Newark Mixed-Use

Property Overview

✓ Mixed-Use
✓ Gross Building Area: +/-16,000 SF
✓ Residential: 14-Units
✓ Residential Composition: 4 / 2-Bed and 10 / 1-Bed Units 
✓ Commercial:  4 Units
✓ Year Renovated: 2013
✓ Parcel No. 14-00103-0000-00041
✓ Electric is Individually Metered

Auction Sale Details

Sells:  January 7, 2026 at 11:00 a.m. (EST)
Online Auction:  via Zoom (only those who qualify to bid will receive a link to the Auction Sale)
Bid Deadline:  January 6, 2026 @ 5:00 p.m. (EST)
Opening Bid:  $2,000,000
Required Deposit:  Bank/Cashier's Check in the amount of $200,000 made payable to “Mark A. Frankel, as Trustee”.
Bid Qualifications:  To participate in the Auction Sale, by the Bid Deadline, each prospective bidder must: (i) register with MYC; (ii) deliver to MYC the original signed Terms and Conditions of Sale; and (iii) tender the Required Deposit.
Buyer's Premium:  Six Percent (6%) of the Gross Sales Price

Location

Located on the corner of MLK Blvd and Baldwin Street in Springfield, part of the Central Ward of Newark, NJ which is unofficially bounded by South Orange Avenue in the north, Avon Avenue in the south, Martin Luther King Boulevard and University Avenue on the east, and Bergen Street in the west. This property is minutes away from Rutgers-Newark, Essex County College, NJIT, the Newark Penn Station which leads through out New Jersey and New York and also highways, Route 21, Route 22, Interstate 280 and the New Jersey Turnpike. 

Basic Terms of Sale

This property will be delivered in “as-is, where-is” condition.  Any sale of this property is "all-cash" and will not be contingent upon financing.  Purchaser to pay all applicable transfer taxes plus a five percent (5%) buyer's premium.  This property will be sold free and clear of all liens, claims, and encumbrances.

Inspections / Showings

By Appointment Only.  Do not attempt access without being accompanied by a representative of MYC & Associates, Inc.  Anyone caught trespassing will be prosecuted to the fullest extent of the law.  

Disclosure

All information provided by MYC & Associates, Inc. is from public documents or third-party sources, is not guaranteed and should be independently verified. The information is subject to errors and omissions. The subject property may be sold or withdrawn from the market without notice. MYC & Associates, Inc. does not represent or warrant the accuracy, authenticity, or completeness of any information and is not liable for any reliance thereon.