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
Price cut: $600K (3/3)
$2,300,000
72 Elm Road #72, Newark City, NJ 07105
--beds
6baths
10,000sqft
Est.:
Apartment
Built in 1950
-- sqft lot
$-- Zestimate®
$230/sqft
$-- HOA
What's special
Ac unitsHood systemDesigner ceilingsUpdated residential apartmentsRestaurant and barNew flooringBar setup
- 174 days |
- 154 |
- 1 |
Zillow last checked:
Listing updated:
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: On-Street Parking, Parking Lot-Exclusive
- Garage spaces: 30
- 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: $230/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
| Date | Event | Price |
|---|---|---|
| 3/3/2026 | Price change | $2,300,000-20.7%$230/sqft |
Source:  GSMLS #3994850 Report a problem | ||
| 10/27/2025 | Listed for sale | $2,900,000$290/sqft |
Source: GSMLS #3994850 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
$15,733/mo
Principal & interest
$11861
Property taxes
$3872
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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
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- New Jersey
- Essex County
- Newark
- 07105
- North Ironbound
- 72 Elm Road Unit 72
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