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    474-476 Springfield Ave Newark, NJ 07103

    Sponsored
    For Sale
    $1,500,000

    High-growth Newark location, 0.115 acres.

    Property size:
    5,001 SF

    Description

    Added:
    Feb 13, 2025
    Days on Market:
    328
    This exceptional commercial land parcel, located at 474-476 Springfield Avenue in Newark, New Jersey, presents a unique investment opportunity. Spanning 0.115 acres (5,001 square feet), this property is zoned for commercial use and offers significant potential for development. The site is conveniently situated in a dynamic area of Newark, providing easy access to major transportation routes and a thriving local economy. With a list price of $1,500,000, this property represents a compelling chance to acquire a strategically located parcel in a rapidly growing market. The absence of existing structures allows for complete design flexibility, catering to a wide range of commercial ventures. The property's location within Essex County, New Jersey, offers access to a robust workforce and a diverse consumer base. This is an ideal opportunity for developers, investors, or businesses seeking to establish a presence in a high-demand area. The property's address is 474-476 Springfield Avenue, Newark, NJ 07103. Serious inquiries are encouraged.

    Property Features for 474-476 Springfield Ave

    General Information

    Property type
    Retail properties
    Square Feet
    5,001 SF

    HighLights

    • $1,500,000 asking price.
    • Commercial land and retail property.
    • 5,001 square feet.
    • Located at 474‑476 Springfield Avenue, Newark, NJ 07103.
    • 0.115‑acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -74.201505
    Latitude
    40.732308

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    FAQs

    What type of property is this?
    Retail property - High-growth Newark location, 0.115 acres.
    Where is this retail property located?
    The property is located at 474-476 Springfield Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: $1,500,000 asking price.; Commercial land and retail property.; 5,001 square feet.
    Request Owner's contact information
    474-476 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
    474-476 Springfield Ave Newark, NJ 07103
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