Property
Newark City, NJ 07103 454 Springfield Ave
$859,000
2 more
Presented By: EXODUS REAL ESTATE
Full/Half Baths • 0 / 3- SQFT • 2,980
Full/Half Baths • 0 / 3
SQFT • 2,980Home Details
Take advantage of an opportunity to diversity your portfolio owning an income producing commercial property in a highly visible location, prime redevelopment section of Newark, diagonally across from Home Depot.Includes Two storefronts (specifically a renovated barbershop paying $2,321.72 per month (annual 5% rate increase); a convenient store paying $2,600 per month)(annual increase of $1200); one upstairs office space (paying $1,906.17 per month)(annual 3% increase); and a maintenance free billboard ($1500 per month) (assumes responsibility for roof repairs). Cap rate will continually increase each year. *Sold As Is. City and State documents/ inspections are buyer's responsibility
Presented By: EXODUS REAL ESTATE
Interior Features for 454 Springfield Ave
Bathrooms
Half Baths3
Other Interior Features
Price Per Sq Ft288.25
Available Sq Ft2980
BasementBilco-Style Door
Fuel TypeSee Remarks
Total Stories2
General for 454 Springfield Ave
Cap Rate7.55
ConstructionSee Remarks
CoolingSee Remarks
CountyEssex
DirectionsIntersection of S7th St and Springfield Avenue
Documents AvailableFinancial Statement, Income & Expenses, Leases
DriveOff-Street Parking
EasementUnknown
Equipment AvailableRestrooms - Private, Sign - Freestanding
Gross Income83434
HeatingSee Remarks
Leasable Area999999
LocationCorner
Net Operating Income64891
Number Of Units Total3
Operating Expense18543
OwnershipFee Simple
PossessionAt closing
Property TypeOffice/Retail
Property TypeOffcRetl
RoofSee Remarks
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount13584
Tax Assessed Value339700
Tax Lot55
Tax Year2025
Town #1614
TownshipNewark City
UtilitiesSee Remarks
Year Built1940
ZoningCommercial
Exterior for 454 Springfield Ave
Building Area Total2980
Exterior DescriptionSee Remarks
Lot Dimensions44.9 X68.1
Lot Size Acres0.07
Max Ceiling Height999999
Max Door Height99999
Number of Bays0
Number of Docks0
Water SourcePublic Water
Additional Details
Price History
Charles Torres
Owner