Date
Details
Price
Change
Source
6/08/2026
Listed
$649,500
—
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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$649,500
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Property Description
Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset. The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale. The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities. Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities.
Full Property Details
Full Property Details for 199 Summer Ave
General
- Price: $649,500
- Taxes: $9,573 (2025)
- Status: Active
- Type: Commercial
- Source: Garden_State
- MLS ID: 4032963
- Updated: 6/8/2026
- Added to Site: 8 day(s) ago
Business
- Includes: Building Only
Rental Information
- Lease/Rent Term: Gross
- Lease Includes: Electric, Gas, Trash Removal
- Lease Terms: 5 Or More Years, Month-To-Month
Interior
- Flooring: Laminate
Rooms
Bathrooms
- Total Bathrooms: 3
- Restrooms: 2
Additional Information
- Equipment: Fire Alarm, Smoke Detector
Parking
- Parking: None, On-Street Parking
Location
- County: Essex
- Driving Directions: Summer Ave. Between Taylor & Kearny St.
- Location Details: Residential Area
Heating & Cooling
- Cooling Type: 1 Unit, Window A/C(s)
- Heating Type: 1 Unit
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Natural Gas
Structural Information
- Construction: See Remarks
- Exterior Const.: Aluminum Siding
- Basement: Yes
- Basement Desc.: Bilco-Style Door
- Roof: Flat
- Stories in Building: 2
- Year Built: 1920
- Remodeled/Updated: 2018
Unit Information
- Units w/Full Bath: 2
- Units w/Half Bath: 1
Lot Features
- Lot Size (Acres): 0.06
- Lot Size: 25X100
- Zoning: .
Financial Considerations
- Expenses: See Remarks
- Operating Expenses: $18,384
- Assessment Amount: $239,400
- Land Assmt: $37,500
- Tax Amount: $9,573
- Tax Year: 2025
- Owner Pays: Sewer, Water
- Tenant Pays: Electric
Disclosures and Reports
- Ownership: Fee Simple
- Documents Avail.: Income & Expenses, Leases
- APN: 1614-00525-0000-00004-0000-
- Block: 525
- Lot Number: 4
Listed by Re/Max Professionals I
We Value Your Privacy
We Value Your Privacy
We Value Your Privacy
Listing agent
— 199 Summer Ave —
Re/Max Professionals I
973-450-4000
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 199 Summer Ave
School District:Newark City School District
| Name | Grades | Distance |
|---|---|---|
Roberto Clemente Elementary School 257 Summer Avenue, Newark, NJ 07104 | K-4 | 0.2 mi |
Rafael Hernandez Elementary School 345 Broadway, Newark, NJ 07104 | PK-4 | 0.4 mi |
McKinley Elementary School, Newark, NJ 1 Colonnade Place, Newark, NJ 07104 | K-4 | 0.7 mi |
Technology High School 223 Broadway, Newark, NJ 07102 | 9-12 | 0.2 mi |
Barringer High School 90 Parker Street, Newark, NJ 07104 | 9-12 | 0.4 mi |
West Side High School 403 South Orange Avenue, Newark, NJ 07103 | 9-12 | 2 mi |
First Avenue Elementary School 214 1st Avenue, Newark, NJ 07107 | 5-8 | 0.8 mi |
Dr. William H. Horton Elementary School 291 North 7th Street, Newark, NJ 07107 | 5-8 | 0.8 mi |
Dr. E. Alma Flagg Elementary School 150 Third St, Newark, NJ 07104 | K-4 | 0.9 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 199 Summer Ave
Tax History
Tax History for 199 Summer Ave
Year
Property Taxes
Change
Tax Assessment
Change
2024
$9,104
2%
$239,400
—
2022
$8,944
—
$239,400
—
2021
$8,939
26%
$239,400
-13%
2021
$7,077
-40%
$275,000
-12%
2019
$11,791
2%
$313,500
—
2018
$11,578
4%
$313,500
—
2017
$11,161
3%
$313,500
—
2016
$10,784
4%
$313,500
—
2015
$10,374
12%
$313,500
—
2013
$9,258
—
$313,500
—
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 199 Summer Ave
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199 Summer Ave, Newark, NJ 07104 (MLS# 4032963) is a Commercial property. 199 Summer Ave is currently listed for $649,500 and was received on June 08, 2026. Want to learn more about 199 Summer Ave? 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.