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1790 Springfield Ave 16,000 SF 100% Leased Retail Building Maplewood, NJ 07040 $5,700,000 ($356.25/SF) 5.59% Cap Rate
Investment Highlights
- New Construction 2024
- Large Condo Like Apartments
- Off-Street Parking
- 12 Apartments and 1 Restaurant
- All Separate Utilities
- Restaurant pays water, sewer, landscape and snow removal
Executive Summary
Prime investment opportunity to own a new construction building in Maplewood NJ. This investment property consists of 12 apartments and 1 restaurant tenant. The building was constructed in 2024 and features 11 - one bedroom apartment and 1-three bedroom apartment along with a 4,000 SqFt restaurant that has a 10 year lease with options.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
16,000 SF
Building Class
C
Year Built
1950
Price
$5,700,000
Price Per SF
$356.25
Cap Rate
5.59%
NOI
$318,796
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.80
Lot Size
0.46 AC
Zoning
PRB
Parking
22 Spaces (1.38 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Avenue Pub
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Avenue Pub | Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (87)
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2024 Population
29,491
250,923
659,345
1,152,251
2029 Population
28,834
244,792
645,724
1,198,249
2024-2029 Projected Population Growth
-2.2%
-2.4%
-2.1%
4.0%
Median Age
40.1
38.6
38.2
38.8
College Degree + Higher
48%
37%
32%
21%
Daytime Employees
8,624
76,459
275,727
459,652
Total Businesses
1,207
9,784
28,949
49,263
Average Household Income
$136,984
$108,066
$95,494
$115,656
Median Household Income
$99,518
$74,833
$65,205
$81,856
Total Consumer Spending
$379M
$2.8B
$6.8B
$12.7B
2024 Households
10,206
87,636
236,723
418,166
Average Home Value
$532,550
$480,634
$494,539
$584,433
Nearby Major Retailers
Property Taxes
| Parcel Number | 11-00030-01-00107 | Improvements Assessment | $1,639,100 |
| Land Assessment | $1,000,000 | Total Assessment | $2,639,100 |
Property Taxes
Parcel Number
11-00030-01-00107
Land Assessment
$1,000,000
Improvements Assessment
$1,639,100
Total Assessment
$2,639,100
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1790 Springfield Ave
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