Old Town Newark Development Site — Sale in Newark, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Commercial Land
- Location: Newark, CA 94560
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Description
6940 Rich Avenue is an approximately 0.92-acre redevelopment site in the heart of Old Town Newark. The zoning for the site allows residential development at densities between 30 dwelling units per acre and 100 dwelling units per acre. According to Costar, the average rent in Newark was $2,195 at the end of the second quarter 2026. This marks the highest rent in the last 10 years and a 3.6% increase over the rent one year prior. With no new market-rate apartment projects currently under construction, rents are expected to continue increasing. Investment Highlights: • Large development site located in the heart of Old Town Newark • Potential to be developed with a mixed-use project up to 100 units per acre • Ten minutes' drive to Costco, Safeway, Sprouts Farmers Market, 99 Ranch, Grocery Outlet, and dozens of restaurants and services
Market Context
This land in Newark, CA is listed for sale. Compare it against other land listings for sale in Newark, CA — view the full market.
Contact
- Josh Johnson · (650) 391-1784 · joshua.johnson@marcusmillichap.com
- Kirk Trammell · (650) 391-1809 · kirk.trammell@marcusmillichap.com
- Omid Azimzadeh · (650) 391-1736 · omid.azimzadeh@marcusmillichap.com
- Mitch Zurich · (650) 391-1824 · mzurich@marcusmillichap.com
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