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Listing Details

118 Market St,Newark City, NJ 07102-2815

  • May 14, 2026

Description

Positioned in the core of Downtown Newark’s main commercial corridor, 118-122 Market Street offers a 8,000 SF asset with immediate value-add and long-term Redevelopment upside for mixed use. Surrounded by major anchors including Prudential Financial, Prudential Center, New Jersey Performing Arts Center, Rutgers University-Newark, and New Jersey Institute of Technology, the property sits in a rapidly evolving, transit-oriented district driven by residential growth and redevelopment. Two attached commercial units. Flexible second-floor layout ideal for conversion. Basement storage supporting retail or redevelopment. Best suited for a developer to build residential for surrounding Universities and Business District employees.

Details

Last Updated On: May 14th, 2026 at 1:44 am
Property ID:PT-40708197-AXZR
Offer Type:For Sale
Property Type:See Remarks
Price: 1,695,000 $

Additional Details

Listing Details

Status: Active

Location

County: Essex
Lotsize: 44.9X96.8
Lot Identifier: 35

Home Details

Acreage: 0.10
Sale Includes: Building & Land
Number of Stories: 2
Number of Units: 2
Number of Lavatories: 2
Available SqFt: 8000
Building SqFt: 10000
Easement/Desc: Unknown
Basmnt/Desc: Yes - Full, Storage, Unfinished
Block Identifier: 60
County Number: 16
Town Number: 1614
Possession: At Closing

Taxes, Fees & Assessments

For Sale Or Lease: For Sale
Ownership: Fee Simple
Tax ID For Property: 1614-00060-0000-00035-0000-
Tax Amount: $29,116.00
Tax Year: 2025
Tax Rate: 3.999%
Tax Rate Year: 2025
Land Assessment: $426,800.00
Building Assessment: $301,300.00
Total Assessment: $728,100.00

Utilities

Heat Source: Gas-Natural
Water: Public Water
Sewer: Public Sewer
Utilities: Electric, Gas-Natural

Other

Zoning: RDV/SD

Statistics

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