118-122 Market Street, Newark, NJ 07102 (MLS# 22613733)

118-122 Market Street, Newark, NJ 07102

New Listing

$1,695,000

Property Type: Commercial Square Footage: 10,000 Lot Size (sq. ft.): 3,920 Status: Active

Current Price: $1,695,000 List Date: 5/11/2026 Last Modified: 5/12/2026

Overview

Description

Positioned in the core of Downtown Newark's main commercial corridor, 118-122 Market Street offers a 8,000 SF asset with immediate value-add and long-term Redevelopment upside for mixed use. Surrounded by major anchors including Prudential Financial, Prudential Center, New Jersey Performing Arts Center, Rutgers University-Newark, and New Jersey Institute of Technology, the property sits in a rapidly evolving, transit-oriented district driven by residential growth and redevelopment. Two attached commercial units. Flexible second-floor layout ideal for conversion. Basement storage supporting retail or redevelopment. Best suited for a developer to build residential for surrounding Universities and Business District employees.

Listing Details MLS# 22613733

Contract Info

Property Sub-Type: Commercial
Sale: Yes
Lease: No
List Price/SqFt: 169.5
New Construction: No

Location

House Number: 118-122
Street Name: Market
Street Suffix: Street
County: Essex
Municipality: Newark (NEW)
Postal City: Newark
State: NJ
Zip Code: 07102
Area/Section: Newark
Complex/Subdivision: None
Directions: GPS-Maps

General Property Info

# Levels: 2
Available SqFt: 8000
Apx SqFt: 10000
Garage: No
Acreage: 0.09
Lot Dimensions: 44.9 x 96.8
Franchise: No
Farm: No
# Car Garage: 0

Tax and Legal

Asmnt - Total: 728100
Taxes: 29117
Tax Year: 2025

Income & Expenses

# Rental Units: 2

Use

Other: Yes

More Information

Zoning

Commercial: Yes
Mixed: Yes
Multi-Use: Yes

Electric

Other - See Remarks: Yes

Gas

On Site: Yes

Water Heater

Natural Gas: Yes

Heating

Natural Gas: Yes

Water

Public Water: Yes

Sewer

Public Sewer: Yes

Parking

On Street: Yes

Assessment Status

Assessed: Yes

Property Features

Use: Other Heating: Natural Gas Water Heater: Natural Gas Water: Public Water Sewer: Public Sewer Gas: On Site Electric: Other - See Remarks Parking: On Street Zoning: Commercial; Mixed; Multi-Use Assessment Status: Assessed

Listing Office: Realty Of America

Listing Agent: Kevin Sharkey

Last Updated: May - 12 - 2026

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