454 Springfield Ave

Newark City, NJ 07103

MLS#: 4035610

$859,000

Status: Active

Listing number: 4035610

Listing provided by: EXODUS REAL ESTATE

Listing agent phone: None

Last update: a day ago

New on site 2 days ago

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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1940

Sq.Footage

2,980

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

Features & Amenities

Interior

Total Bedrooms

N/A
Bathrooms

N/A
Basement YN

YES
Pet friendly

N/A

Exterior

Garage

No
Parking

Off Street
Pool

No

Area & Lot

Lot Features

Corner Lot
Lot Size(acres)

0.07
Property Type

Commercial Sale

Price

Sales Price

$859,000
Tax Amount

$13,584
Zoning

Commercial
Sq. Footage

N/A
Price/SqFt

N/A

HOA

Association

No

School District

Elementary School

N/A
Middle School

N/A
High School

N/A

Property Features

Stories

2
Ownership

Fee Simple
Sewer

Public Sewer
Tax Lot

*
Water Source

Public

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Location

County

Essex

Elementary School

Middle School

High School

Listing Courtesy of None , EXODUS REAL ESTATE

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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

454 Springfield Ave

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Features & Amenities

Interior

Exterior

Area & Lot

Price

HOA

School District

Property Features

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Listing Courtesy of None , EXODUS REAL ESTATE

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