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$1,250,000 / 17700ft2 - Newark, NJ Land/Dev Opportunity/LIONSGATE New Film Studio 3 miles away (Newark)
786-794 S 20th St, Newark, NJ 07103
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Asking $1,250,000 - Open to Partnership/Renovation
Site: 786–794 S 20th Street, Newark — 0.41-acre development parcel, family-owned 40+ years, spans a full city block with frontage on two streets
Existing Structure: 12,831 sq. ft. former church building (three halls plus ancillary rooms) with on-site parking; 2026 valuation at $1.4M. Interim Use Options: Could be leased or renovated short-term as a church, event hall, school, or community center while development plans proceed
Zoning/Scale: Zoned C2 for 5 stories by right; up to 8 stories with variance, residential unitsover ground-floor commercial space.
Tax Incentives: Located in Redevelopment Zone; stacked incentives (NJEDA Aspire, historic/NMTC potential) in transferable state tax credits
Market Conditions: Newark posted the highest rent growth (4.3% YoY) among top-50 U.S. metros, with rising population/jobs supporting strong rental demand
Film/Media Angle: Near the upcoming Lionsgate Newark Studios (300,000 sq. ft., $125M, opening 2027-2028); NJ's 30% transferable film/media tax credit could support studio, post-production, or talent-housing uses
Location: Newark's West Side, close to Newark Penn Station, I-280/I-78, and Newark Liberty Airport — about 20 minutes to Manhattan by train
Expansion Potential: Neighboring block owners reportedly open to air rights deals, which could significantly increase buildable density
Investment Case: Marketed as offering outsized ROI/IRR potential via stacked incentives, PILOT abatement possibilities, and strong political/community support for redevelopment — framed as a time-sensitive opportunity given incentive sunset dates