72-74 Elm Road, Newark, NJ 07105 - Photo 1

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$2,300,000 -$600,000 (-20.69%) Price Reduced

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Retail

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Property Description

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.

Full Property Details

Full Property Details for 72-74 Elm Rd

General

Price: $2,300,000
Taxes: $17,879 (2024)
Status: Active
Type: Retail
Source: Garden_State
MLS ID: 3994850
Updated: 3/3/2026
Added to Site: 127 day(s) ago

Business

Includes: Building & Land

Rental Information

Lease/Rent Term: Modified
Lease Includes: See Remarks, Sewer, Water
Lease Terms: Month-To-Month, Security Deposit Required

Interior

Flooring: Concrete, Tile, Wood

Rooms

Bathrooms

Total Bathrooms: 4
Restrooms: 6

Additional Information

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

Parking

Garage Spaces: 30
Total Spaces: 30
Parking: On-Street Parking, Parking Lot-Exclusive

Location

County: Essex
Driving Directions: 6 Corns to Elm Road
Location Details: Business District, Corner, Residential Area

Heating & Cooling

Cooling Type: Window A/C(s)
Heating Type: 4+ Units, Baseboard - Hotwater
Heating Fuel: Natural Gas

Utilities

Sewer: Public Sewer
Water: Public Water
Utility Description: Electric, Natural Gas, Garbage Extra Charge, Internet Available

Structural Information

Construction: Brick/Block, Formed Concrete
Exterior Const.: Brick, ConcBrd
Basement: Yes
Basement Desc.: Full, Storage, Unfinished
Roof: Flat, Rubberized
Ceiling Height: 12
Door Dimensions: 8
Loading: None
Amps: 200
Voltage: 220
Stories in Building: 3
Square Feet: 10,000
Aprox. Leasable: 10,000 Sq. Ft.
Previous Bldg. Use: Restaurant / Bar with Resident
Year Built: 1950
Remodeled/Updated: 2023

Unit Information

2 Bedroom Units: 1
3 Bedroom Units: 2
Units w/Full Bath: 3
Units w/Half Bath: 1

Lot Features

Lot Size: 50x100
Zoning: Mixed Use
Lot Description: Corner, Level Lot

Financial Considerations

Price Per Sq. Ft.: $230
Expenses: Insurance, Taxes, Water/Sewer
Operating Expenses: $86,400
Assessment Amount: $533,100
Land Assmt: $138,700
Tax Amount: $17,879
Tax Year: 2024
Owner Pays: Sewer, Water
Tenant Pays: Electric, Gas
Pays Utilities: Tenant

Disclosures and Reports

Ownership: Fee Simple
Documents Avail.: Financial Statement, Income & Expenses, Pro Forma
Disclosures: Yes
Block: 1898
Lot Number: 21

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Schools

Schools serving 72-74 Elm Rd

School District:Newark City School District

Name	Grades	Distance
Wilson Avenue Elementary School 19 Wilson Ave, Newark, NJ 07108	K-8	0.5 mi
Lafayette Street Elementary School 205 Lafayette Street, Newark, NJ 07105	K-8	0.7 mi
Oliver Street Elementary School 86 Oliver Street, Newark, NJ 07105	PK-8	0.8 mi
South Street Elementary School 44-48 Hermon Street, Newark, NJ 07105	K-8	0.8 mi
Hawkins Street Elementary School 8 Hawkins Street, Newark, NJ 07105	PK-8	1.1 mi
Quitman Street School 21 Quitman Street, Newark, NJ 07103	K-8	1.6 mi
Cleveland Elementary School 388 Bergen St, Newark, NJ 07103	K-6	2.2 mi
Camden Street Elementary School 281 Camden Street, Newark, NJ 07103	PK-8	2.3 mi
Harriet Tubman Elementary School 504 South 10th Street, Newark, NJ 07103	PK-4	2.6 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 72-74 Elm Rd Get Price Alerts and Save Property

Date

Details

Price

Change

Source

3/03/2026

Price Reduced

$2,300,000

-20.69%

MLS

10/27/2025

Listed

$2,900,000

457.69%

MLS

3/30/2023

Sold

$520,000

—

Public Record

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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 72-74 Elm Rd

Year

Property Taxes

Change

Tax Assessment

Change

2024

$5,598

$147,200

—

2022

$5,499

—

$147,200

—

2021

$5,496

-2%

$147,200

—

2020

$5,594

$147,200

—

2018

$5,436

-2%

$147,200

—

2019

$5,536

$147,200

—

2017

$5,240

$147,200

—

2016

$5,064

$147,200

—

2015

$4,871

$147,200

—

2014

$4,565

—

$147,200

—

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 72-74 Elm Rd

72-74 Elm Road, Newark, NJ 07105 (MLS# 3994850) is a Retail property. 72-74 Elm Road is currently listed for $2,300,000 and was received on October 27, 2025. Want to learn more about 72-74 Elm Road? Do you have questions about finding other Retail real estate for sale in Newark? You can browse all Newark real estate or contact a Coldwell Banker agent to request more information.

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72-74 Elm Rd Newark, NJ 07105