Storefront and Office
454 Springfield Ave, Newark, NJ 07103
New
Commercial - Newark City, NJ
Property size:
2,980 SFLot size:
0.07 AcresPrice / SF:
$288/SF- Added:
- Jun 19, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 20 at 2:06 am
Property Features for 454 Springfield Ave
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Rooms
- Basement
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 2,980 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 13584
Building Details
- Year built
- 1940
- Floors in Building
- 2
- Number of units
- 3
- Architectural style
- Other
Listing agent KEVIN JONES (732) 737-9013
Listing office EXODUS REAL ESTATE 1200 MORRIS TURNPIKE, Union, NJ (732) 737-9013
Listing date Jun 19, 2026
MLS# 4035610
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Income‑producing commercial property built in 1940 with basement
- Includes two storefronts: renovated barbershop ($2,321.72/mo) and convenient store ($2,600/mo)
- One upstairs office space ($1,906.17/mo) with stated annual 3% increase
- Maintenance‑free billboard on site paying $1,500/mo; buyer assumes responsibility for roof repairs
- Commercial building in Newark redevelopment section, diagonally across from Home Depot
- Two storefronts, one upstairs office, and a billboard with listed monthly rents; sold as‑is
Overview
This income-producing commercial property includes two street-level storefront spaces, one upstairs office space, and a maintenance-free billboard. The barbershop storefront has been renovated and is currently paying $2,321.72 per month with an annual 5% rate increase. A convenient store storefront is currently paying $2,600 per month with an annual increase of $1,200. The upstairs office space is paying $1,906.17 per month with an annual 3% increase. The billboard is listed at $1,500 per month, with the buyer assuming responsibility for roof repairs. The property is sold as-is, and City and State document and inspection responsibilities are for the buyer.
The building is located at 454 Springfield Ave in Newark City. The listing notes the property is diagonally across from Home Depot, supporting its established street presence.
For investors or owner-operators looking for a mixed-income structure, the combination of retail frontage, an office component, and billboard revenue may support diversification within a single acquisition. The presence of multiple income streams also provides flexibility when evaluating leasing and management priorities going forward, subject to the existing leases and the property’s as-is condition.
The building is located at 454 Springfield Ave in Newark City. The listing notes the property is diagonally across from Home Depot, supporting its established street presence.
For investors or owner-operators looking for a mixed-income structure, the combination of retail frontage, an office component, and billboard revenue may support diversification within a single acquisition. The presence of multiple income streams also provides flexibility when evaluating leasing and management priorities going forward, subject to the existing leases and the property’s as-is condition.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.5k | $24.00 |
| − Vacancy | −$5.0k | −$1.68 |
| EGI | $66.5k | $22.32 |
| − OpEx | −$16.6k | −$5.58 |
| NOI | $49.9k | $16.74 |
2,980 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$712.6K
$623.6K – $831.4K
NOI $49,885 @ 7.0% cap · market cap 5.81%
Second Best
Office B
$705.3K
$617.1K – $822.8K
NOI $49,370 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$1.07M
$932.6K – $1.24M
NOI $74,610 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Places Nearby
- Hudson Flowers — Newark, NJ 07102
- Mercado Flores - EnvÃa flores a Lima - Perú — 655 Broad St, Newark, NJ 07102
- Floral Shop — Newark, NJ 07103
- Washington Florist Inc — 565 Broad St, Newark, NJ 07102
- Vi's Florist — 565 broad st, newark, nj 07102
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.20051
- Latitude
- 40.73224
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Income-producing commercial building with two storefronts, an upstairs office, and a billboard component.
Where is this storefront property located?
The property is located at 454 Springfield Ave Newark, NJ.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Income‑producing commercial property built in 1940 with basement; Includes two storefronts: renovated barbershop ($2,321.72/mo) and convenient store ($2,600/mo); One upstairs office space ($1,906.17/mo) with stated annual 3% increase
