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.
Active
$2,900,000
72 Elm Road #72, Newark City, NJ 07105
--beds
6baths
10,000sqft
Est.:
Apartment
Built in 1950
-- sqft lot
$-- Zestimate®
$290/sqft
$-- HOA
What's special
Ac unitsHood systemDesigner ceilingsUpdated residential apartmentsRestaurant and barNew flooringBar setup
- 70 days |
- 172 |
- 6 |
Zillow last checked: 14 hours ago
Listing updated: October 27, 2025 at 11:33am
Listed by:
Sandra Oliveira 908-425-1875,
Keller Williams Park Views
Source: GSMLS,MLS#: 3994850
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 6
Heating
- 4+ Units, Baseboard - Hotwater, Natural Gas
Cooling
- Window Unit(s)
Features
- Flooring: Concrete, Tile, Wood
- Doors: Max Door Height: 8, Number of Doors: 0
- Basement: Yes,Full,Storage Space,Unfinished
Interior area
- Total structure area: 10,000
- Total interior livable area: 10,000 sqft
Property
Parking
- Total spaces: 30
- Parking features: None, On-Street Parking
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: Handicapped Access
Features
- Stories: 3
Lot
- Size: 5,000 Square Feet
- Dimensions: 50 x 100
- Features: Corner Lot, Level, Business District, Corner, Residential Area
Details
- Zoning description: Mixed Use
- Other equipment: Appliances, Refrigeration Unit
Construction
Type & style
- Home type: Apartment
- Property subtype: Apartment
- Attached to another structure: Yes
Materials
- Brick/Block, Formed Concrete
- Roof: Flat,Rubber
Condition
- Year built: 1950
- Major remodel year: 2023
Utilities & green energy
- Electric: Amps: 200, Volts: 220
- Gas: Gas-Natural
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Garbage Extra Charge, Internet Available
Community & HOA
Location
- Region: Newark
Financial & listing details
- Price per square foot: $290/sqft
- Tax assessed value: $533,100
- Annual tax amount: $17,879
- Date on market: 10/27/2025
- Inclusions: Building & Land
- Ownership type: Fee Simple
- Lease term: Month To Month
- Tenant pays: Electricity, Gas, All Utilities
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 10/27/2025 | Listed for sale | $2,900,000$290/sqft |
Source:  GSMLS #3994850 Report a problem | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$17,142/mo
Principal & interest
$11245
Property taxes
$4882
Home insurance
$1015
Climate risks
Neighborhood: North Ironbound
Nearby schools
GreatSchools rating
- 6/10Ann Street Elementary SchoolGrades: K-8Distance: 0.2 mi
- 2/10East Side High SchoolGrades: 9-12Distance: 0.2 mi
- 1/10Malcolm X Shabazz High SchoolGrades: 9-12Distance: 1.9 mi
- Loading
- Loading
