125-127 Bloomfield Ave

A five-unit mixed-use building on Bloomfield Avenue in Newark: two street-level commercial spaces and three apartments, offered at $649,000 with two apartments currently collecting month-to-month rent. The three vacant spaces give an investor room to build income. In one projected scenario - the two commercial spaces leased at their advertised $1,600 asking rents and all three apartments at $1,450 a month - the building would gross $90,600 a year, a projected $62,834 of income after listed expenses and a 5% vacancy allowance, a 9.68% projected cap rate at the asking price. That scenario also assumes the two occupied apartments, now $1,000 and $1,100, reach $1,450 - a step that depends on the existing leases and any applicable restrictions, with no guaranteed route.