Mixed-Use Property with
For Lease
$749,000
Pending
492 Springfield Avenue, Newark, NJ 07103
Two three-bedroom apartments sit above a street-level commercial space, with separate utilities serving the residential units.
Space SizeContact for details
Days on Market188
Property Features for 492 Springfield Avenue
General Information
Standard status
Pending
Property subtype
Retail
Site & Location
Neighborhood
West Side
Taxes and HOA fees
Annual Taxes
$7,730
Listing Agency:
Keller Williams Park Views
Listed By:
Eyal Levy · License #1540641
(201) 640-0487
Source:
Tkregroupinc
Added: Apr 28
Changed: Nov 1
Last Checked: Nov 1 at 2:52PM
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 Keller Williams Park Views
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Investment Insights
Based on property information with market context.
At 492 Springfield Avenue, the property combines two residential apartments with a commercial unit at street level. Each apartment has three bedrooms and one full bathroom, and the residential units have separate utilities. The ground-floor space is suited to commercial occupancy, with retail, office, and service use identified as possibilities.
The property is on Springfield Avenue in Newark, New Jersey. The address places the storefront along a corridor described as carrying pedestrian and vehicle traffic, with public transportation, schools, shopping, and neighborhood amenities nearby.
The property is on Springfield Avenue in Newark, New Jersey. The address places the storefront along a corridor described as carrying pedestrian and vehicle traffic, with public transportation, schools, shopping, and neighborhood amenities nearby.
Key Highlights
- Two residential units, each with 3 bedrooms and 1 full bathroom
- Street‑level commercial space with retail, office, or service use potential
- Separate utilities for the residential units
Property Analytics
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
1,445
Businesses Nearby
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Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two three-bedroom apartments sit above a street-level commercial space, with separate utilities serving the residential units.
Where is this mixed-use property located?
The property is located at 492 Springfield Avenue Newark, NJ.
What is the lease rate?
The lease rate is $749,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 1 full bathroom; Street‑level commercial space with retail, office, or service use potential; Separate utilities for the residential units
