199 Summer Avenue, Newark, NJ 07104

Newark
Local realty services provided by:ERA Queen City Realty
199 Summer Avenue,Newark, NJ 07104
$649,500
  • - Beds
  • 2 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: jeanette rodriguez
Office: re/max professionals 1973-450-4000
MLS#:26021201
Source:NJ_MLS

Price summary

  • Price:$649,500

About this home

Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset. The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale. The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities. Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a...

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Home facts

  • Listing ID #:26021201
  • Added:112 day(s) ago
  • Updated:September 29, 2026 at 03:47 PM

Rooms and interior

  • Total bathrooms:2
  • Full bathrooms:1
  • Half bathrooms:1
  • Rooms Total:7

Finances and disclosures

  • Price:$649,500
  • Tax amount:$9,573

Features and amenities

  • Laundry features:None
MLS Logo The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than ERA Queen City Realty are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: September 29, 2026. Source: New Jersey Multiple Listing Service, Inc. 2026 New Jersey Multiple Listing Service, Inc. All rights reserved.

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