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492 Springfield Ave

Newark City, NJ 07103
  • $950,000
  • STATUS: Active
  • ON SITE: 44 Days
  • MLS #: 3937290
UPDATED: 47 min ago
$950,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,850
    SQFT
  • $514
    $/SQFT
Type:
Commercial
County:
Area:

School Ratings & Info

Description

Prime Mixed-Use Opportunity on Springfield Avenue. Welcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare in the vibrant West Side neighborhood. With its proximity to public transportation, schools, shops, and other amenities, this property is a magnet for both tenants and customers. Situated in an area of growth and development, it presents a unique opportunity for investors, business owners, or those seeking a live-work space. Don't miss your chance to own a high-potential property in the heart of Newark!

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Garden State MLS logo © 2025 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Dekanski Home Selling Team :: RE/MAX 1st Advantage are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2025-01-20T19:46:58.407.
www.gardenstatehomesearcher.com/homes/158562898
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492 Springfield Ave Newark City, NJ 07103

  • Price: $950,000
  • Status: Active
  • On Site: 44 Days
  • Updated: 47 min ago
  • MLS #: 3937290
0
Beds
0
Baths
0
½ Baths
0.04
Acres
1,850
SQFT
$514
$/SQFT
County:
Essex
Area:
Newark City
Property Description
Prime Mixed-Use Opportunity on Springfield Avenue. Welcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare in the vibrant West Side neighborhood. With its proximity to public transportation, schools, shops, and other amenities, this property is a magnet for both tenants and customers. Situated in an area of growth and development, it presents a unique opportunity for investors, business owners, or those seeking a live-work space. Don't miss your chance to own a high-potential property in the heart of Newark!
Exterior Features

Approximate Lot Size 25X75.6 Construction See RemarksWood Exterior Description Vinyl Siding Location Business DistrictSee Remarks Lot Description Irregular Lot Number Of Bays 0 Number Of Docks 0 Parking Driveway Description On-Street Parking Roof Description FlatRubberized

Interior Features

Basement Yes Basement Description Unfinished Cooling Central Air Equipment Available See RemarksSmoke Detector Floors Wood Heating 3 Units Max Ceiling Height 0 Max Door Height 0 Number Of Lavatories 3 Office Sq Ft 0

Property Features

Building Number 492 For Sale Or Lease For Sale Fuel Type Gas-Natural Gross Operating Income 72000 Net Operating Income 50600 Permitted Use Mixed Use 2 Apartments 3 bed 1 bath each Primary Property Type MixedUse Prior Use Mixed Use 2 Apartments 3 bed 1 bath each Property Type Mixed Use Sale Includes Building & Land Sewer Public Sewer Suite Number 00 Tax Amount 12000 Tax Rate Amount 3.728 Tax Rate Year 2024 Tax Year 2023 Total Operating Expense 21400 Utilities ElectricGas-Natural Water Public Water Zoning COM

Listing information © 2025 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Signature Realty Nj: 973-680-2920.


Garden State MLS logo © 2025 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Dekanski Home Selling Team :: RE/MAX 1st Advantage are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2025-01-20T19:46:58.407.
 
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The Dekanski Home Selling Team :: RE/MAX 1st Advantage
170 Inman Avenue
Colonia NJ, 07067