Mixed-Use Redevelopment Opportunity 524 Central Ave,… — Sale in Newark, NJ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Newark, NJ 07107
  • Size: 5,500 SF
  • Year built: 1900

Description

Redevelopment Opportunity – 524 Central Avenue, Newark, NJ Located in the heart of Newark’s revitalizing Fairmount neighborhood , 524 Central Avenue presents an exceptional opportunity for investors and developers to capitalize on the city’s ongoing transformation. This three-story, ±5,500 SF mixed-use building sits on a corner lot (±2,367 SF) and currently includes six residential units (five 1-bedroom, one 3-bedroom) and ±1,200 SF of ground-floor retail . With C-2 zoning , the property allows mixed-use redevelopment up to five stories , aligning perfectly with Newark’s growth initiatives and density incentives. The site benefits from dual street frontage , strong visibility, and proximity to Newark Penn Station, I-280, the Garden State Parkway, and Central Avenue’s active retail corridor . Whether pursued as a value-add repositioning or a ground-up redevelopment , this property offers exceptional potential in a rapidly appreciating urban market. Offered in as-is condition. Seller to clear open taxes/water liens at closing. Title insurance required through ANS Title. Address: 524 Central Avenue, Newark, NJ Neighborhood: Fairmount District Building Size: ±5,500 SF | Lot Size: ±2,367 SF Zoning: C-2 (Neighborhood Commercial Mixed-Use – up to 5 stories permitted) Current Use: Mixed-Use (6 residential units + ±1,200 SF ground-floor retail) Year Built: pre-1950 (verify) Condition: As-is | Ideal for redevelopment Configuration: (5) One-bedroom apartments (1) Three-bedroom apartment ±1,200 SF retail storefront (street-level corner exposure) Redevelopment Potential: C-2 zoning allows dense mixed-use (residential + commercial) up to 5 stories High-visibility corner lot with dual frontage Excellent candidate for tear-down and new construction Walking distance to transit, retail, and major thoroughfares Investment Highlights: Newark’s Fairmount corridor experiencing new housing and mixed-use investment Transit-oriented location minutes from Newark Penn Station and major highw

Market Context

This commercial property in Newark, NJ is listed for sale across 5,500 SF. The building dates to 1900. It has been on the market for 70 days. Compare it against other commercial property listings for sale in Newark, NJ — view the full market.

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