Date
Details
Price
Change
Source
5/11/2026
Listed
$1,695,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$1,695,000 Just Listed
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Property 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.
Full Property Details
Full Property Details for 118-122 Market St
General
- Price: $1,695,000
- Taxes: $29,117 (2025)
- Status: Active
- Type: Commercial
- Source: Monmouth
- MLS ID: 22613733
- Updated: 5/11/2026
- Added to Site: 1 day(s) ago
Business
- Business Type: Other
Parking
- Parking Features: On-Street
Location
- Area: Newark (NEW)
- Municipality: Newark (NEW)
- County: Essex
- Subdivision: None
Utilities
- Gas: On Site
- Dist. to Gas: On Site
- Sewer: Public Sewer
- Water: Public
Structural Information
- Square Feet: 10,000
- Current Bldg. Use: Other
- Minimum Avail: 8,000 Sq. Ft.
Lot Features
- Lot Size (Acres): 0.09
- Lot Size (Sq. Ft.): 3,920.4
- Lot Dimensions: 44.9 x 96.8
- Zoning: Commercial, Mixed, Multi-Use
Financial Considerations
- Price Per Sq. Ft.: $169.5
- Assessment Amount: $728,100
- Tax Amount: $29,117
- Tax Year: 2025
Disclosures and Reports
- Property ID: 14-00060-0000-00035
- Section: Newark
Listed by Realty Of America, Kevin Sharkey
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Listing agent
— 118-122 Market St —
Kevin Sharkey
Realty Of America
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 118-122 Market St
School District:Newark City School District
| Name | Grades | Distance |
|---|---|---|
Quitman Street School 21 Quitman Street, Newark, NJ 07103 | K-8 | 0.6 mi |
Oliver Street Elementary School 86 Oliver Street, Newark, NJ 07105 | PK-8 | 0.7 mi |
Lafayette Street Elementary School 205 Lafayette Street, Newark, NJ 07105 | K-8 | 0.7 mi |
Central High School, Newark, NJ 250 18th Avenue, Newark, NJ 07103 | 9-12 | 1.1 mi |
East Side High School 238 Van Buren Street, Newark, NJ 07105 | 9-12 | 1.2 mi |
Barringer High School 90 Parker Street, Newark, NJ 07104 | 9-12 | 1.4 mi |
Camden Street Elementary School 281 Camden Street, Newark, NJ 07103 | PK-8 | 1.1 mi |
Cleveland Elementary School 388 Bergen St, Newark, NJ 07103 | K-6 | 1.2 mi |
Wilson Avenue Elementary School 19 Wilson Ave, Newark, NJ 07108 | K-8 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 118-122 Market St
Tax History
Tax History for 118-122 Market St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$27,690
2%
$728,100
—
2023
$27,144
—
$728,100
—
2022
$27,202
—
$728,100
—
2021
$27,187
29%
$728,100
-7%
2021
$21,001
-27%
$781,300
—
2018
$28,853
4%
$781,300
—
2017
$27,814
3%
$781,300
—
2016
$26,877
4%
$781,300
—
2015
$25,853
-12%
$781,300
—
2019
$29,385
21%
$781,300
—
2014
$24,228
—
$781,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 118-122 Market St
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- Multi-Family
- Active
- Updated 1 day ago
- 5Total Beds
Listed by Royal Crown Realty
- Single Family
- Active
- Updated 1 day ago
- 4Beds
- 4Total Baths
Listed by Coccia Realty Better Homes & Gardens
- Single Family
- Active
- Updated 4 days ago
- 2Beds
- 2Total Baths
Listed by Mid-Realty, Inc.
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- Multi-Family
- Active
- Updated 4 days ago
- 4Total Beds
Listed by Realty One Group Lifestyle Homes
- Multi-Family
- Active
- Updated 5 days ago
- 7Total Beds
Listed by JD FRANCES REALTY & G.R.
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- Commercial
- Closed
Listed and Sold by Exit Realty Lucky Associates
118-122 Market Street, Newark, NJ 07102 (MLS# 22613733) is a Commercial property. 118-122 Market Street is currently listed for $1,695,000 and was received on May 11, 2026. Want to learn more about 118-122 Market Street? Do you have questions about finding other Commercial real estate for sale in Newark? You can browse all Newark real estate or contact a Coldwell Banker agent to request more information.