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1901 Springfield Ave 3,000 SF 100% Leased Retail Building Maplewood, NJ 07040 $850,000 ($283.33/SF) 7.95% Cap Rate
INVESTMENT HIGHLIGHTS
- High-Traffic Area
- Allows for many business types
- Minimal to no renovations needed
EXECUTIVE SUMMARY
Well-maintained property with 3 units, ideally situated on busy Springfield Ave. Permitted uses include retail businesses, financial institutions, eat-in and/or takeout restaurants, dwellings, offices, professional offices, instructional businesses, treatment centers. Ideal for owner-users and investors looking for excellent visibility/foot traffic and minimal updates. Property also contains a large, private backyard that can be accessed from each unit.
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
3,000 SF
Building Class
C
Year Built
1928
Price
$850,000
Price Per SF
$283.33
Cap Rate
7.95%
NOI
$67,580
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
12’
Building FAR
0.63
Lot Size
0.11 AC
Zoning
PRB - retail, financial institutions, eat-in or takeout restaurants, dwellings, offices, professional offices, instructional businesses, treatment centers
Frontage
55’ on Springfield Ave
AMENITIES
- Bus Line
- Freeway Visibility
- Signage
Walk Score®
Very Walkable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11-00029-07-00241 | Improvements Assessment | $278,800 |
| Land Assessment | $250,000 | Total Assessment | $528,800 |
PROPERTY TAXES
Parcel Number
11-00029-07-00241
Land Assessment
$250,000
Improvements Assessment
$278,800
Total Assessment
$528,800
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1901 Springfield Ave
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