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    504 Springfield Ave Newark, NJ 07103

    New
    For Sale
    $649,999

    Commercial - Newark City, NJ

    Lot size:
    0.06 Acres
    Days on Market:
    2
    Last Refresh:
    Dec 8 at 4:06 pm

    Property Features for 504 Springfield Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Mixed Use
    Rooms
    Basement
    Basement Y/N
    1
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Baseboard, Forced Air, Hot Water (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1947
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Linoleum, Vinyl
    Building materials
    Block, Brick
    Roof type
    Flat
    Architectural style
    Other

    RE/MAX LIFETIME REALTORS (908) 688-2828 [email protected]

    Listing agent TINA REBIMBAS TORRES (908) 688-2828

    Listing date Dec 7, 2025

    MLS# 4000508 Listing URL

    Copyright © 2025 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.

    Overview

    Newark Mixed-Use Investment Opportunity

    This mixed-use building in Newark City, NJ, offers both commercial and residential income opportunities. The property, with a lot size of 24x105, features a first-floor retail unit previously occupied by a pharmacy, presenting an excellent opportunity for a variety of potential businesses. The second and third floors each include large, residential apartments with 4 bedrooms and 1 bathroom each. Note that one bedroom in each apartment does not include a closet. These units offer high ceilings, generous layouts, and both front and rear stair access. Separate utilities are in place. An unfinished basement provides storage space. Building upgrades were completed in 2006, including updated electrical systems and central air. The property is being sold as-is, presenting an opportunity for an investor or owner-occupant to add value and maximize income. The store rent potential is $2,500 - $3,000. Apartments income with Section 8: 4 Bedroom Income is $3,371, 3 Bedroom, $2,964. The total area is approximately 4,700 sq ft, including a 1,229 sq ft basement, a 1,099 sq ft retail floor, and 1,184 sq ft units on the 2nd and 3rd floors. Square footage measurements were calculated by the Matterport System.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bestcare Pharmacy Pharmacy

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.20265
    Latitude
    40.73182

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with retail and residential income potential.
    Where is this mixed-use property located?
    The property is located at 504 Springfield Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $649,999.
    What are key features of this property?
    This property features: - Mixed-use building with commercial and residential income; - Two large 4-bedroom apartments on upper floors, Section 8 potential; - First-floor retail unit, previously a pharmacy, suitable for various businesses
    (908) 688-2828
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    504 Springfield Ave Newark, NJ 07103
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    Newark, NJ 07103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    504 Springfield Ave Newark, NJ 07103
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