Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    124 Spruce St Bloomfield, NJ 07003

    View on Map
    Claim this Listing
    New
    For Sale
    $975,000

    Multi-Family, 2-Two Story - Bloomfield Twp., NJ

    Lot size:
    0.26 Acres
    Added:
    Apr 27, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 28 at 6:06 am

    Property Features for 124 Spruce St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
    Basement Y/N
    1
    Appliances
    Oven - Gas, Range, Refrigerator
    Standard status
    Active
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    19981

    Utilities

    Heating system
    Baseboard, Hot Water (Heating)

    Building Details

    Year built
    1950
    Number of units
    4
    Building materials
    Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    JOHN NATALE

    Listing agent JOHN NATALE

    Listing office REAL 165 PASSAIC AVE, Haddon Township, NJ

    Listing date Apr 27, 2026

    MLS# 4023454 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.

    Overview

    Bloomfield Four-Family Investment Opportunity

    This multi-family property, located in a sought-after neighborhood of Bloomfield Twp., NJ, presents an investment opportunity. The property features four units: one 3-bedroom unit, two 2-bedroom units, and one 1-bedroom unit, generating solid rental income. Situated on a 0.26-acre lot, the property is conveniently located near shopping and the Garden State Parkway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1926
    Latitude
    40.79698

    Nearby Similar for Sale

    • $599,000

      Bloomfield Two-Family Home For Sale

      Spacious two-family home in Bloomfield, great investment opportunity.
      89 Division St, Bloomfield Twp., NJ 07003-3624
      View Details
    • $975,000
      3,064 SF

      Bloomfield Multifamily Investment Opportunity

      Four-unit multifamily property in Bloomfield, NJ with solid rental income.
      124 Spruce Street, Bloomfield, NJ 07003
      View Details
    • $942,500

      Bloomfield Two-Family Home with Garage

      Well-maintained two-family home with detached garage in Bloomfield, NJ.
      81 Berkeley Ave, Bloomfield Twp., NJ 07003-5701
      View Details
    • $1,300,000
      8,000 SF

      Bloomfield Retail Opportunity

      Retail property for sale in Bloomfield Twp., NJ.
      606 Bloomfield Ave, Bloomfield Twp., NJ 07003-2510
      View Details
    • $749,900

      Renovated Multi-Family Home

      Renovated two-family home with rental income potential.
      80 BELLEVILLE AVE, Bloomfield Twp., NJ 07003-5271
      View Details
    • $780,000

      Bloomfield Multi-Family Investment Opportunity

      Well-maintained Bloomfield multi-family home with income potential.
      169 Walnut St, Bloomfield Twp., NJ 07003-5031
      View Details
    • $638,800

      Renovated Duplex Near Bloomfield Center

      Meticulously renovated duplex near Bloomfield's vibrant town center and NYC transit.
      35 Hickory St, Bloomfield Twp., NJ 07003-5027
      View Details
    • $1,200,000

      Bloomfield Multi-Family Corner Lot Home

      Two-family home near Bloomfield transit with flexible multi-level layout.
      7 Maple St, Bloomfield Twp., NJ 07003-3601
      View Details
    • $799,995
      2,300 SF

      Bloomfield Twp. Commercial Property

      Commercial property in Bloomfield Twp. with redevelopment potential.
      591 Bloomfield Ave, Bloomfield Twp., NJ 07003-2502
      View Details
    • $875,000
      4,993 SF

      Bloomfield Commercial Building on Broad

      Commercial building in vibrant Bloomfield location with high foot traffic.
      1012 Broad St, Bloomfield Twp., NJ 07003
      View Details
    • $2,000,000

      Bloomfield Mixed-Use Commercial Building

      Renovated mixed-use property with six income-generating rentals in Bloomfield.
      19 Franklin St, Bloomfield Twp., NJ 07003-5709
      View Details
    • $1,399,900
      3,400 SF

      Bloomfield Mixed-Use Investment Opportunity

      Two-story building with retail, residential, and office units.
      545 Bloomfield Ave, Bloomfield Twp., NJ 07003-3301
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit multi-family property in Bloomfield Twp. with solid rental income.
    Where is this quadplex located?
    The property is located at 124 Spruce St Bloomfield, NJ.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Solid rental income from four units.; Located in a highly sought‑after neighborhood in Bloomfield.; Convenient access to shopping and the Garden State Parkway.
    (855) 450-0442
    We can help!
    Listing Contact
    JOHN NATALE
    Real Estate License ID: 0790719
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!