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$1,250,000 / 17000ft2 - Newark, NJ Land/Devel Opportunity/NETFLIX New 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
Welcome to 786–794 S 20th Street – a colossal redevelopment canvas in the heart of Newark. This exceptional 0.41-acre development site (owned by one family for 40 plus years) spans across an entire city block and is now zoned for up to an 8-story mixed-use masterpiece, with the potential to deliver 141,816+ sq. ft. of space comprising 85–125 modern residential units (spacious 800–1,100 sq. ft. layouts) atop ground-floor commercial venues. This rezoning has unlocked significant tax credit eligibility, with a stacked, transferable tax incentive range of $63.8M to $90M in state tax credits, fueling the project’s economics. The financial upside here is unparalleled – effectively turbocharging returns with minimal investor risk.
Newark’s renaissance is in full swing, with the city “preparing for new residents and visitors” amid a development boom. This property sits in a Qualified Opportunity Zone at the nexus of several major economic development initiatives, allowing investors to reap substantial tax advantages for backing Newark’s growth. With the NJ Economic Development Association (NJEDA) Aspire Program providing tax credits covering up to ~60% of eligible project costs, surrounding neighborhoods are surging with new construction and investment – from university expansions to tech hubs – and the demand for housing has exploded. In fact, Newark recently led the nation in rent growth, posting a 4.3% annual increase – the highest among top 50 U.S. metro markets. This booming housing market translates to virtually guaranteed long-term rent occupancy and revenue for any new residential development here.
Adding to the excitement, with New Jersey offering a 30% transferable tax credit for qualified film and digital media production expenses – including studio construction and digital post production houses, Newark is rapidly becoming New Jersey’s media production powerhouse. The site is a short drive from the new Lionsgate Newark Studios, a sprawling 12-acre film and television campus that will anchor the state’s burgeoning film industry. Governor Phil Murphy proclaimed that with Lionsgate’s Newark studio, “New Jersey will cement its position as a hub for television and film production”, bolstering the city’s economic vitality. This means proximity to major film and media catalysts – including not just Lionsgate’s $125M studio investment, but also New Jersey’s attractively incentivized film projects (Netflix is building its own $900M mega-studio in NJ) – bringing an influx of jobs, professionals, and ancillary business demand. Film studios, content creators, and media companies will find this location ideal for post-production, offices, or talent housing, tapping into generous state film tax credits while benefiting from the city’s creative momentum.
Highlights
Massive Development Potential: Expansive site (approx. 0.41 acres) with frontage on two streets, already zoned and primed for an 8-story mixed-use development totaling ~141,816 sq. ft. and up to 125 residential units, plus retail/community space. A rare chance to build big and bold in Newark’s urban core.
Unmatched Tax Incentive Package: Located in a Qualified Opportunity Zone, offering substantial capital gains tax deferral and potential tax-free exit on your investment. Stacked with additional state and federal programs, the project is eligible for an estimated $63.8–$90+ million in tax credits and incentives – a financing windfall that dramatically boosts ROI and lowers effective development cost. (This includes Opportunity Zone benefits, historic/new market tax credit potential, and NJ’s robust incentive programs for urban development and film/tech industry projects.)
Newark’s Explosive Growth Market: Invest in one of the fastest-growing real estate markets in the region. Newark is experiencing a renaissance with billions in public-private development – from the $336M NJPAC mixed-use campus to major corporate expansions. The city’s population and job base are rising for the first time in decades, creating unstoppable demand for modern housing and commercial services.
Sky-High Rental Demand: Newark’s rental market is on fire. The city posted a 4.3% year-over-year rent increase – the #1 rent growth among major U.S. cities– signaling tight supply and thriving demand for new apartments. A multifamily project here will tap into a deep tenant pool, ensuring rapid lease-up and strong cash flow upon completion.
Strategic Location – Heart of Newark’s Transformation: Situated in Newark’s West Side, adjacent to revitalized corridors and just minutes from downtown, universities, and transit hubs. The property is surrounded by ongoing redevelopment – you’re at the epicenter of Newark’s comeback story, with easy access to Newark Penn Station, I-280/I-78, and Newark Liberty International Airport. Location confers both urban convenience and strategic connectivity (20 minutes to Manhattan via train), hugely appealing to future residents and businesses alike.
Proximity to Film & Media Hub: A stone’s throw from the forthcoming Lionsgate Newark Studios, a 300,000 sq. ft. state-of-the-art film/TV production complex slated to open in 2028. This $125M studio project is cementing Newark as a major East Coast film production hub– and your property stands to benefit. Whether as workforce housing for studio employees or creative office space for media companies, the development here can directly plug into New Jersey’s booming film industry ecosystem. (The state’s generous film tax credits and the presence of Netflix, Lionsgate, and others are turning Newark into “Hollywood East.”)
Existing Structure = Immediate Utility & Added Value: On-site is a 12,831 sq. ft. building (a former church with three large halls and ancillary rooms), offering immediate possibilities. Rehabilitating the existing foundational brick building into a usable facility immediately raises the property’s value to its assessed $2.24M, creating instant equity.
Developers can generate interim value, income, or community goodwill by leasing it as a church, event hall, or school while finalizing development plans. Alternatively, a visionary church leader or nonprofit could renovate this vast structure into a modern house of worship or community center right away, preserving its legacy while serving new generations. The building also includes on-site parking and dual frontage, further enhancing its usability, accessibility, and long-term appeal. Additionally, other owners within the block are open to negotiating air rights deals, presenting a rare opportunity to double or even triple the size of the residential development and overall investment potential.
Flexible Redevelopment Options: The site’s favorable zoning and large footprint allow for multiple development scenarios. Envision a blend of residential units (market-rate or mixed-income), ground-floor retail or a daycare/community facility, and even dedicated space for a media studio or medical office. The possibilities are endless – from a luxury rental building with amenities to an affordable housing complex with community services – all subject to Newark’s broad redevelopment support. No other property on the market offers this level of flexibility in design and use.
Robust Community and Political Support: The property lies in an area prioritized by city leadership for redevelopment and community investment. City officials are pro-development and have been courting projects exactly like this – expect a smooth approval process and potential PILOT tax abatements or grants to further sweeten the deal. Newark’s administration and local community stakeholders are eager to see this site revitalized, whether as new housing or a community anchor, meaning your project will likely enjoy broad support (a valuable intangible asset).
Incredible ROI Potential: Between the tens of millions in incentives and Newark’s rising rents/property values, the projected financial returns are outstanding. Conservative pro formas show the ability to achieve stabilized yields and Internal Rate of Returns (IRRs) seldom seen in urban development today. By leveraging transferable tax credits, an investor can potentially realize a total development cost basis far below market value, creating built-in equity. Few real estate opportunities anywhere offer this combination of high upside and mitigated risk – this is how real estate empires are made.
Time-Sensitive Value Creation: The window of opportunity is narrow – both in market timing and incentive availability. Key NJ incentive programs (and Opportunity Zone benefits) have sunset dates and funding caps, and Newark’s property values are climbing steadily as more projects break ground. Acquiring this asset now locks in a low land basis and positions you ahead of the next big wave of development and rent growth. Simply put, acting now means capturing all the value-creation milestones – from ground-breaking to grand opening – in one of the nation’s most dynamic markets.
* This is it – the once-in-a-lifetime investment opportunity that savvy developers spend their careers hunting. 786-794 S 20th Street isn’t just a property, it’s a chance to single-handedly shape the future of Newark and reap generational rewards. Whether you’re an institutional investor seeking your next flagship project, a visionary developer, a high-net-worth individual, a forward-thinking film studio, or a community-minded pastor or nonprofit – this opportunity speaks to you. The combination of scale, location, and financial upside on offer is virtually unattainable in today’s market. Seize the moment now to secure this property and all its extraordinary benefits. The stage is set and the incentives are in place – but the window won’t stay open for long. Step up, act decisively, and let 786-794 S 20th Street be the crown jewel of your investment portfolio and legacy. Opportunities of this economic magnitude are fleeting – contact us today to make it yours.