245 Dr Martin Luther King J, Newark City, NJ 07102
245 Dr Martin Luther King J, Newark City, NJ 07102
245 Dr Martin Luther King J, Newark City, NJ 07102
245 Dr Martin Luther King J, Newark City, NJ 07102
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

+1(201) 240-5200
$ 1,395,000
Est. payment | /mo

4,547 SqFt

Save
$ 1,395,000
Est. payment | /mo
Save

4,547 SqFt

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 4,547 sqft

Price per Sqft $306

MLS Listing ID 4051195

Year Built 2026

Annual Tax Amount $919

Tax Year 2025

Lot Size 1,742 Sqft

Property Sub-Type Mixed Use

Property Description

Approved Mixed-Use Development Opportunity in Newark?s James Street Commons Historic District. Rare opportunity to own a new mixed-use 4-unit property in one of Newark?s most desirable and strategically located neighborhoods.The proposed project consists of a four-unit mixed-use building featuring three spacious residential apartments and one commercial space, offering an excellent opportunity for an investor, developer, or owner-user.Site plans and survey work have been completed, and City approvals have already been obtained, with working beginning shortly OR this will allow a new owner to move forward with the development process.The three proposed apartments will each feature 2 bedrooms plus a study, with approximately 1,200 square feet per apartment. The commercial space provides flexibility for a variety of potential uses, including retail, professional office, or restaurant, subject to applicable requirements and approvals.The property is located within the James Street Commons Historic District, a nationally recognized historic district in the heart of Newark's University Heights area. The district is home to a mix of historic residential, educational, cultural, and commercial properties and is closely connected to both Rutgers University?Newark and NJIT. Close to NJ TRANSIT Newark Broad Street Station, which provides service on the Montclair-Boonton and Morris & Essex lines.

Location

State NJ

County Essex

Zoning Multi Use

Interior

Heating See Remarks

Cooling See Remarks

Equipment See Remarks

Heat Source See Remarks

Exterior

Exterior Feature Brick/Block

Utilities Available See Remarks

Roof Type Asphalt Shingle

Building

Story 4

Sewer See Remarks

Water See Remarks

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 HOWARD HANNA RAND REALTY
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

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245 Dr Martin Luther King J

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