218 Mulberry St, Newark City, NJ 07102
218 Mulberry St, Newark City, NJ 07102
218 Mulberry St, Newark City, NJ 07102
218 Mulberry St, Newark City, NJ 07102
218 Mulberry St, Newark City, NJ 07102
218 Mulberry St, Newark City, NJ 07102
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

+1(201) 240-5200
$ 4,800,000
Est. payment | /mo

39,500 SqFt

Save
$ 4,800,000
Est. payment | /mo
Save

39,500 SqFt

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 39,500 sqft

Price per Sqft $121

MLS Listing ID 4004798

Year Built 1900

Annual Tax Amount $36,877

Tax Year 2024

Lot Size 3,484 Sqft

Property Sub-Type Mixed Use

Property Description

Price Adjustment to reflect a 6.25% CAP RATE. A rare opportunity to acquire a fully income-producing mixed-use property in the heart of Downtown Newark's Arena District, steps from the Prudential Center and Mulberry Commons Park. 218 Mulberry Street offers immediate cash flow with significant long-term upside in one of Newark's most active redevelopment corridors. The property features a strong commercial anchor tenant generating approximately $240,000 annually, plus four residential units above, providing a diversified income stream with total annual income of approximately $349,200 and a net operating income of approximately $291,900. Operating expenses are low, tenants pay all utilities, and the property is owner-managed. All leases are month-to-month, offering incoming ownership flexibility to lock in long-term leases, optimize rents, or reposition the asset. Located within a major redevelopment zone surrounded by substantial public and private investment, the property is widely regarded as a strategic parcel in the continued transformation of Downtown Newark. Ideal for 1031 exchange buyers, long-term hold investors, value-add strategies, or assemblage-minded buyers seeking stable income today with meaningful future potential.

Location

State NJ

County Essex

Zoning Redevelopment

Rooms

Basement Full

Interior

Heating See Remarks

Cooling See Remarks

Equipment Sign - Roof

Heat Source See Remarks

Exterior

Exterior Feature Aluminum, Brick

Utilities Available All Underground

Roof Type Flat

Building

Lot Description Corner

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by EXP REALTY, LLC
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

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218 Mulberry St

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