For Sale

72 Elm Road,Newark City, NJ 07105-6839

October 28, 2025

Exceptional Investment Opportunity ” Fully Renovated Mixed-Use Building with Liquor License in North Ironbound!Turnkey mixed-use property ideally situated near Six Corners in Newark’s vibrant Ironbound district. The building features a fully equipped restaurant and bar with valuable liquor license, plus three updated residential apartments above. Two units are 3BR/1BA and one is 2BR/1BA ” all rented month-to-month and below market value, offering immediate upside potential.The restaurant and bar were completely renovated within the past year, showcasing new flooring, bar setup, furniture, hood system, three AC units, sound system, TVs, security cameras, and designer ceilings. Liquor license, operating licenses, and inventory (valued around $650,000) are included in the sale, adding significant business value.The restaurant space is vacant ” perfect for an owner-operator or investor seeking strong income potential (market rent approx. $12,000/month NNN). Additional highlights include parking for 30 cars under a long-term lease and reasonable property taxes for the area.A rare chance to acquire a fully renovated, income-producing property with liquor license in one of Newark’s most desirable and high-traffic commercial corridors.

Property ID:PT-7262152-AXZR

Offer Type:For Sale

Property Type:Mixed Use

Price: 2,900,000 $

Year Built:1950

Listing Details

Status: Active

Location

County: Essex

Lotsize: 50x100

Lot Description: Corner, Level Lot

Property Type: Mixed Use, Restaurant/Bar, Store With Apartment

Available: Immediately

Lot Identifier: 21

Home Details

Location: Business District, Corner, Residential Area

Sale Includes: Building & Land

Renovated: 2023

Construction: Brick/Block, Formed Concrete

Exterior Description: Brick,ConcBrd

Roof Description: Flat, Rubberized

Number of Stories: 3

Number of Units: 5

Number of Lavatories: 6

Max Ceiling Height: 12

Max Door Height: 8

Floors: Concrete, Tile, Wood

Available SqFt: 10000

Building SqFt: 10000

Available Parking Spaces: 30

Parking Desc: None, On-Street Parking

Easement/Desc: No

Basmnt/Desc: Yes - Full, Storage, Unfinished

Pre-Rental Rqmts: Credit & income verification, 1.5-month security deposit

Tenant Pays: Electric, Gas

Owner Pays: Sewer, Water

YB/Desc: 1950 - Standing

Block Identifier: 1898

County Number: 16

Town Number: 1614

Possession: At Closing

Taxes, Fees & Assessments

For Sale Or Lease: For Sale

Documents Available: Financial Statement, Income & Expenses, Pro Forma

Lease Type: Gross

Lease Info: Month-To-Month, Security Deposit Required

Lease Includes: Sewer, Water

Ownership: Fee Simple

Tax Amount: $17,879.00

Tax Year: 2024

Tax Rate: 3.350%

Tax Rate Year: 2024

Farm Assessment: No

Land Assessment: $138,700.00

Building Assessment: $394,400.00

Total Assessment: $533,100.00

Utilities

Equipment Available: Appliances, Exhaust System, Fixtures, Handicapped Access, Refrigeration Unit, Restrooms - Private, Restrooms - Public, Storage Area(s)

Heat Source: Gas-Natural

Heat System: 4+ Units, Baseboard - Hotwater

Cool System: Window A/C(s)

Water: Public Water

Sewer: Public Sewer

Utilities: Electric, Gas-Natural

Services: Garbage Extra Charge, Internet Available