976 Bergen St
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976 Bergen St
10,105 SF Retail Building Newark, NJ 07112 For Sale
Investment Highlights
- Block-through, corner retail property with 18 parking spaces
- 380’ combined frontage, featuring 200 ft of frontage along Bergen Street, 90 ft of frontage on Scheerer Avenue and 90 ft of frontage on Shepard Avenue
- Prime location on the Bergen Street retail corridor with 8,500 vehicles per day along Bergen Street
- 10,105 SF building, located on a 18,099 SF lot
- Potential redevelopment opportunity; the City of Newark has rezoned the corridor to allow mixed-use developments with high-density residential compone
- AUCTION SITE: https://rimarketplace.com/auction/2336/family-dollar-dark-potential-redevelopment-opportunity-nj-ny-msa?utm_source=costar
Executive Summary
RI Marketplace Online Auction Feb 10-12, 2024
Register to bid on Marketplace
Northgate Real Estate Group, in conjunction with RI Marketplace, are pleased to present the investment opportunity of a dark Family Dollar retail building located at 976 Bergen Street in Newark, New Jersey (the "Property"). The Property is a corner retail building with parking spaces, potential redevelopment opportunity.
Current structure was built in 1993 (renovated 2010), the Property is improved with a one-story + basement storage, free-standing, single tenant retail building totaling ±10,105 square feet, and offers ±18 surface parking spaces. The Property is located on a 18,099 square foot lot or ±0.42 acres. The Property was formerly occupied by Family Dollar. Space has been vacated. Tenant is fulfilling its lease obligations paying a $181,500 annualized rent (NNN - LL Responsible for structure & exterior) with a lease expiry date of June 30th, 2025.
Property Snapshot
• Block-through, corner retail property with 18 parking spaces
• 10,105 SF building, located on a 18,099 SF lot
• 380’ combined frontage, featuring 200 ft of frontage along Bergen Street, 90 ft of frontage on Scheerer Avenue and 90 ft of frontage on Shepard Avenue
• Potential redevelopment opportunity; the City of Newark has rezoned the corridor to allow mixed-use developments with high-density residential components.
• Prime location on the Bergen Street retail corridor with 8,500 vehicles per day along Bergen Street
• Located across the street from the bus stop at Bergen Street and Scheerer Avenue
• Short walk from the Weequahic Park and the Newark Beth Israel Medical Center
https://rimarketplace.com/auction/2336/family-dollar-dark-potential-redevelopment-opportunity-nj-ny-msa?utm_source=costar
Register to bid on Marketplace
Northgate Real Estate Group, in conjunction with RI Marketplace, are pleased to present the investment opportunity of a dark Family Dollar retail building located at 976 Bergen Street in Newark, New Jersey (the "Property"). The Property is a corner retail building with parking spaces, potential redevelopment opportunity.
Current structure was built in 1993 (renovated 2010), the Property is improved with a one-story + basement storage, free-standing, single tenant retail building totaling ±10,105 square feet, and offers ±18 surface parking spaces. The Property is located on a 18,099 square foot lot or ±0.42 acres. The Property was formerly occupied by Family Dollar. Space has been vacated. Tenant is fulfilling its lease obligations paying a $181,500 annualized rent (NNN - LL Responsible for structure & exterior) with a lease expiry date of June 30th, 2025.
Property Snapshot
• Block-through, corner retail property with 18 parking spaces
• 10,105 SF building, located on a 18,099 SF lot
• 380’ combined frontage, featuring 200 ft of frontage along Bergen Street, 90 ft of frontage on Scheerer Avenue and 90 ft of frontage on Shepard Avenue
• Potential redevelopment opportunity; the City of Newark has rezoned the corridor to allow mixed-use developments with high-density residential components.
• Prime location on the Bergen Street retail corridor with 8,500 vehicles per day along Bergen Street
• Located across the street from the bus stop at Bergen Street and Scheerer Avenue
• Short walk from the Weequahic Park and the Newark Beth Israel Medical Center
https://rimarketplace.com/auction/2336/family-dollar-dark-potential-redevelopment-opportunity-nj-ny-msa?utm_source=costar
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Owner User
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,105 SF
Building Class
C
Year Built
1950
Tenancy
Single
Number of Floors
1
Building FAR
0.55
Lot Size
0.42 AC
Parking
18 Spaces (1.78 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signalised Intersection
Walk Score ®
Very Walkable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-03656-0000-00008 | Improvements Assessment | £426,318 |
| Land Assessment | £338,554 | Total Assessment | £764,871 |
PROPERTY TAXES
Parcel Number
14-03656-0000-00008
Land Assessment
£338,554
Improvements Assessment
£426,318
Total Assessment
£764,871
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976 Bergen St
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