48 Elm Rd

This freestanding single-story commercial building with a basement offers an exceptional opportunity for business owners to start or expand their business immediately in Newark's highly desirable Ironbound section. The property is ideal for office use and comes with the added benefit of city-approved plans to transform it into a modern boutique three-family residential building, offering flexibility for future development as the area continues to appreciate.
You can move forward with the approved plans to develop a three-family property or modify them to create a mixed-use building with city approval. This would allow you to run your business from one unit while renting out the remaining two, providing immediate cash flow and long-term investment potential.
Key approved development plans include:
Garage: On-site parking for 3 cars.
Elevator: Convenient access from the ground floor to the rooftop.
Rooftop Garden Lounge: A deck that can accommodate up to 20 people, offering stunning views of Downtown Newark.
High-End Finishes: Hardwood floors, central AC, energy-efficient lighting, and brand-new appliances in each unit.
In-unit laundry: Each apartment includes a washer/dryer for added convenience.
Private financing for acquisition and construction is available upon request.
For developers, there are options to increase the square footage or convert the building into condos with city approval. The layout is also ideal for short-term and long-term rentals, offering potential for high returns. The property offers numerous possibilities for developers or business owners, whether you plan to build, hold, or sell.
Located just minutes from Newark Penn Station, with easy access to NYC, this property is perfectly positioned in a thriving neighborhood, making it a prime opportunity for growth.
Don’t miss the chance to invest in one of Newark’s most desirable areas!