347-349 W. MARKET ST, NEWARK, NJ
W. Market St
Approved 11 Unit Mixed Use Rental Redevelopment featuring 850 Sq. Ft. of Ground Floor Commercial Space located at 347-349 W. Market St, Newark, NJ.
The infil vacant parcel was acquired from the City of Newark in February of 2020 for $31K. In December of 2023 the land value appraised for $1.2M. The stabilized post construction value appraised for $4.3M
Seeking $3M Equity Investment for a 7% Preferred Annual Return.
Property sits on one corner amongst 3 corners of restaurants and also across from the current construction of a $41M - 78 unit mixed use development.
The neighborhood development will sit on top of a new wellness facility being developed by New York Developer L+M.