1188 Raymond Boulevard, Newark, New Jersey 07102

New Jersey, Newark, New Jersey 07102

Listing ID Number

19207

Property Description

The property is a 9,412 sqft, 4 story commercial building at the intersection of Broad St and Raymond Blvd in the Military Park section of Newark’s Downtown.
It is currently over 70% occupied with H&R Block as an anchor tenant on the ground floor along with a jewelry store and a shoe repair. The third and fourth floors are occupied by and architecture firm. Verizon has a cell tower on the roof.
The property is elevatored and well maintained.

Overview

Building Type:Commercial Buildings
Location:Intersection of Raymond Boulevard and Broad Street at the southern tip of Military Park
Lot Dimensions:124' x 26' irr
Lot Sq Ft:2,740
Stories:4
Zoning:B4 - Fourth Business

Expenses

Real Estate Taxes:$23,989
Insurance:$3,500
Water/Sewer:$312
Fuel:$12,000
Repairs/Maintenance:$6,782
Elevator:$2,400
Tenant Reimbursement:$928H&R Block pays a portion of insurance and elevator and building maintenance

Investment Information

Gross Annual Income:$226,088$143,288 is in place one retail unit and the second floor are currently vacant

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Geoffrey Bailey
First Vice President of Sales
(201) 426-2200 x 2211
gbailey@masseyknakal.com


Property Images

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Property Map


Aerial View


Tax Map

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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.