Mixed-Use Corner
1406 Springfield Ave Irvington, NJ 07111
1406 Springfield Ave, Irvington, NJ, 07111
$1,690,000
For Sale
$1,690,000
Corner mixed-use building with renovated apartments and a long-tenured daycare tenant, plus fenced parking and garage.
Property Size10,000 SF
Price / SF$169
Days on Market23
Property Features for 1406 Springfield Ave
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing agency
REALTYLINE
(201) 592-1388
Listed by
NINETTA PAPPAS
Source
Corcoran
Added: Jun 29 Updated: Jul 20 at 5:40PM Checked: Jul 21 at 5:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REALTYLINE
Investment Insights
Based on property information with market context.
This corner mixed-use property was completely gutted and renovated in 2004 and features four 3-bedroom apartments along with a large commercial space currently occupied by a daycare that has been there for over 20 years. The building includes central air and heat throughout, a 3-car garage, and a fenced parking lot. A full unfinished basement is also included and may offer additional commercial use opportunities, subject to approvals.
The property is located on the Upper Irvington/Maplewood border at 1406 Springfield Ave in Irvington Township, NJ. The building is described as approximately 4,396 SF per level, including the basement.
Financials are available upon request. The property is offered for sale with an indicated 6.29% cap rate and is described as having stable tenants with future income growth potential.
The property is located on the Upper Irvington/Maplewood border at 1406 Springfield Ave in Irvington Township, NJ. The building is described as approximately 4,396 SF per level, including the basement.
Financials are available upon request. The property is offered for sale with an indicated 6.29% cap rate and is described as having stable tenants with future income growth potential.
Key Highlights
- Corner mixed‑use property with four 3‑bedroom apartments and a large commercial space currently occupied by a daycare tenant
- Completely gutted and renovated in 2004; long‑tenured daycare tenant has operated there for over 20 years
- Central air and heat throughout, plus a 3‑car garage and a fenced parking lot
Local Financial Insights For Apartment 5plus
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 | $300.0k | $30.00 |
| − Vacancy | −$20.4k | −$2.04 |
| EGI | $279.6k | $27.96 |
| − OpEx | −$125.8k | −$12.58 |
| NOI | $153.8k | $15.38 |
10,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.39M
$2.09M – $2.79M
NOI $167,362 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,780 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Mixed-use property - Corner mixed-use building with renovated apartments and a long-tenured daycare tenant, plus fenced parking and garage.
Where is this mixed-use property located?
The property is located at 1406 Springfield Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Corner mixed‑use property with four 3‑bedroom apartments and a large commercial space currently occupied by a daycare tenant; Completely gutted and renovated in 2004; long‑tenured daycare tenant has operated there for over 20 years; Central air and heat throughout, plus a 3‑car garage and a fenced parking lot
