September 30, 2025 – Michael Agrifolio of Horvath & Tremblay has arranged the sale of a nine (9) unit mixed-use property in Newark, New Jersey. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $1,475,000.
The mixed-use Property is located at 224 S Orange Avenue in Newark, New Jersey. The Property consists of a three-story mixed-use building containing nine (9) total units comprised of two (2) commercial units, and seven (7), 2-Bedroom/1-Bathroom units on a 0.09-acre parcel of land. The residential units have below-market rents, the opportunity exists to increase residential rents to market rates in an urban-infill, high demand, supply-constrained residential market increasing the income of the Property. Additionally, the commercial units, which are leased through March 2028, benefit from strong pedestrian and vehicular traffic and offer annual rent increases. The Property is well located along S Orange Avenue, one of the area’s primary commercial and commuter corridors, in a densely populated neighborhood Newark’s Central Ward. The Property is 0.2 miles from University Hospital and enjoys convenient access to several commuter rail stations including Newark’s Penn Station with direct service to Manhattan’s Penn Station, just 1.6-miles away. The Property is positioned along the municipal bus line and offers quick access to the Garden State Parkway, Interstates 280 and 78, and NJ Route 21, as well as area schools, national retailers, and Newark’s Central Business District.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.