1291 Springfield Ave | New Providence, NJ 07974
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- LoopNet Team
1291 Springfield Ave
New Providence, NJ 07974
Citizens Bank · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Single Tenant Absolute NNN Lease - Effective April 2025, Tenant will pay $272,500/annum NNN
- Favorable Placer.AI Data 11.3K customers make a combined 27.1K visits to this Citizens Bank per year. Deposit activity with over $60,000,000 annually
- Desirable Retail Location - Situated directly across from New Providence Center featuring Starbucks, Smashburger, and ACME Markets, UPS
- Credit Tenancy - Citizens Bank, NA is an investment grade tenant with an “A-” rating by S&P Global Ratings, and has over 1,000 locations
- Exposure | Frontage | Traffic - 300’+ of linear frontage along Springfield Avenue and Passaic Street. Positioned at a four-way signalized intersection
- Strong Local Demographics - Total Households 23K (3 mi.) • Average Household Income $275K (3 mi.) • Daytime Total Population 74.79K (3 mi.)
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
3,344 SF
Building Class
C
Year Built
1958
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.64 AC
Zoning
Central Commercial (C)
Parking
21 Spaces (6.28 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 11-00050-0000-00018 | Improvements Assessment | $530,100 |
| Land Assessment | $486,100 | Total Assessment | $1,016,200 |
PROPERTY TAXES
Parcel Number
11-00050-0000-00018
Land Assessment
$486,100
Improvements Assessment
$530,100
Total Assessment
$1,016,200
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