Income-Producing Retail and Office
454 SPRINGFIELD AVE Unit 0, Newark, NJ 07103
Income-producing building with two storefronts, an upstairs office, and a billboard in a highly visible Newark location.
Type:General Commercial
Property size:
2,980 SFPrice / SF:
$288/SF- Added:
- Jun 13, 2026
- Days on Market:
- 24
- Last Refresh:
- Jun 24 at 3:28 am
Property Features for 454 SPRINGFIELD AVE Unit 0
General Information
- Standard status
- Active
- Size
- 2,980 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1940
Listing office EXODUS REAL ESTATE (201) 618-9433
Listing date Jun 13, 2026
Source Xome
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 EXODUS REAL ESTATE
HighLights
- Income‑producing commercial building on a corner lot with 2 storefronts, 1 upstairs office, and a maintenance‑free billboard
- Two storefronts: renovated barbershop rent $2,321.72/mo and convenient store rent $2,600/mo (with stated annual increase terms)
- Upstairs office space rented at $1,906.17/mo (with stated annual 3% increase)
- Billboard income of $1,500/mo; buyer assumes responsibility for roof repairs (sold as is)
- Off‑street parking; lot dimensions listed as 44.9 x 68.1 (repeated)
- Year built: 1940; located diagonally across from Home Depot (Newark)
Overview
The property consists of two ground-floor storefronts, one upstairs office space, and a maintenance-free billboard. The barbershop storefront is described as renovated and is paying $2,321.72 per month, with an annual 5% rate increase. The convenient store is 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 reported to be $1,500 per month, and the buyer would assume responsibility for roof repairs. The property is being sold as-is, and city and state documents/inspections are the buyer’s responsibility.
The building is positioned in a highly visible area and is described as being in a prime redevelopment section of Newark. It is diagonally across from Home Depot.
This configuration can fit investors and operators looking for a mixed income stream across retail, office, and billboard income within one property. With multiple rentable components already identified, prospective buyers should evaluate lease terms and use requirements as part of their due diligence, particularly given the roof repair responsibility associated with the billboard.
The building is positioned in a highly visible area and is described as being in a prime redevelopment section of Newark. It is diagonally across from Home Depot.
This configuration can fit investors and operators looking for a mixed income stream across retail, office, and billboard income within one property. With multiple rentable components already identified, prospective buyers should evaluate lease terms and use requirements as part of their due diligence, particularly given the roof repair responsibility associated with the billboard.
Local Financial Insights For Office B
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 | $85.8k | $28.80 |
| − Vacancy | −$20.0k | −$6.71 |
| EGI | $65.8k | $22.09 |
| − OpEx | −$16.5k | −$5.52 |
| NOI | $49.4k | $16.57 |
2,980 SF · lease $28.80/SF/yr · vacancy 23.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$705.3K
$617.1K – $822.8K
NOI $49,370 @ 7.0% cap · market cap 5.75%
Second Best
Retail
$682.6K
$597.3K – $796.4K
NOI $47,784 @ 7.0% cap · market cap 5.56%
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.
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Places Nearby
- Newark Florist — 443-220 S 7th St, Newark, NJ 07103
- Newark Flower Shop — 823 S 14th St, Newark, NJ 07108
- Floral Shop — Newark, NJ 07103
- Geneva Florist — 340 S 10th St, Newark, NJ 07103
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2005547
- Latitude
- 40.7323875
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Income-producing building with two storefronts, an upstairs office, and a billboard in a highly visible Newark location.
Where is this storefront property located?
The property is located at 454 SPRINGFIELD AVE Unit 0 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 building on a corner lot with 2 storefronts, 1 upstairs office, and a maintenance‑free billboard; Two storefronts: renovated barbershop rent $2,321.72/mo and convenient store rent $2,600/mo (with stated annual increase terms); Upstairs office space rented at $1,906.17/mo (with stated annual 3% increase)
