The Fairmount Corner – Mixed-Use Development 524 Central Ave 500 SF Vacant Retail Building Newark, NJ 07107 $488,572 CAD ($977.14 CAD/SF)

Zoned for Growth: High-Density Mixed-Use Site with Retail & Residential Potential
Located in the heart of Newark’s revitalizing Fairmount neighborhood, 524 Central Avenue presents a prime opportunity for investors and developers seeking a strategic redevelopment site. This three-story, 5,500 SF mixed-use building—currently consisting of six residential units (five one-bedrooms and one three-bedroom) and 1,200 SF of ground-floor retail—is ideal for tear-down and new construction.
Situated on a 2,367 SF corner lot with C-2 zoning, the property allows for dense, mixed-use development up to five stories, aligning with Newark’s current growth plans and zoning incentives. The site benefits from excellent visibility, dual street frontage, and proximity to Newark Penn Station, major highways, and a bustling commercial corridor.
With increasing demand for mixed-use and residential housing, strong rental fundamentals, and ongoing citywide investment, this location offers significant upside for value-add or ground-up development. Don’t miss the chance to capitalize on Newark’s next phase of growth in one of its most active neighborhoods.
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As-Is Condition
Seller makes no warranties regarding C/O, outstanding Violations, Occupants
No Contingencies
Open/Outstanding Real Estate Taxes and/or Water/Sewer liens to be paid by Seller at Closing
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