Listing Details

415 Central Ave,Newark City, NJ 07107-3020

  • April 29, 2026

Description

Approximately 3,000 SF of prime ground-floor commercial space in the heart of Newark’s University Heights district. Formerly operated as a lounge, this wide-open, street-level unit features two existing bar setups and an adaptable layout ideal for a restaurant or café. Positioned just minutes from Rutgers University, NJIT, Essex County College, major hospitals, and premier attractions like NJPAC and Prudential Center, this location enjoys strong foot traffic and excellent visibility. The surrounding area is dense with students, professionals, and daily commuters, offering a built-in audience. Two bar areas in place with high ceilings and flexible interior layout. Prominent frontage along Central Avenue, steps from public transportation and major highways. Surrounded by colleges, hospitals, and downtown amenities in one of Newark’s most dynamic and fast-growing corridors. Liquor License Can be purchased separately for $155,000

Details

Last Updated On: April 29th, 2026 at 1:15 pm
Property ID:PT-39212520-AXZR
Offer Type:For Sale
Property Type:Office/Apartments
Price: 1,500,000 $
Year Built:1935

Additional Details

Listing Details

Status: Active

Location

County: Essex
Lotsize: 30X101.8
Lot Description: Corner
Property Type: Office/Apartments, Restaurant/Bar, Store With Apartment
Lot Identifier: 23

Home Details

Subdivision: University Heights
Location: Business District
Acreage: 0.07
Sale Includes: Building Only
Renovated: 2024
Construction: Brick/Block, Wood
Exterior Description: Brick/Block, Vinyl Siding
Roof Description: Flat
Number of Stories: 3
Number of Units: 3
Number of Lavatories: 6
Max Ceiling Height: 10
Max Door Height: 7
Available SqFt: 5558
Building SqFt: 5558
Color of Building: White
Parking Desc: None
Easement/Desc: Unknown
Basmnt/Desc: Yes - Bilco-Style Door, Partial, Storage, Unfinished
YB/Desc: 1935 - Approximate
Block Identifier: 1846
County Number: 16
Town Number: 1614
Possession: UPON CLOSING

Taxes, Fees & Assessments

For Sale Or Lease: For Sale
Documents Available: Income & Expenses
Ownership: Fee Simple
Tax ID For Property: 1614-01846-0000-00023-0000-
Tax Amount: $12,784.00
Tax Year: 2025
Tax Rate: 3.999%
Tax Rate Year: 2025
Land Assessment: $42,500.00
Building Assessment: $277,200.00
Total Assessment: $319,700.00

Utilities

Equipment Available: Appliances, Fire Alarm, Kitchen Area, Restrooms - Public, Sign - Building, Sign - Roof, Smoke Detector, Storage Area(s)
Heat Source: Gas-Natural
Heat System: 3 Units, Forced Hot Air
Cool System: 3 Units, Central Air
Water: Public Water
Sewer: Public Sewer
Utilities: Electric, Gas-Natural

Other

Permitted Use: 1st Fl Commercial, Upper Floors Multi-Family
Zoning: Mixed Use
Prior Use: Bar on 1st Floor, MF on Upper Floors

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