Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Springfield Flex Facility with Garages Title is generated by Realmo AI

    50 Springfield Ave, Springfield, NJ 07081

    View on Map
    Claim this Listing
    For Lease
    $126,000 SF/Yr $73,500,000/Mo (calc)

    7,000 SF flex space with ample parking and drive-in bays.

    Type:Commercial
    Property size:
    7,000 SF
    Added:
    May 15, 2026
    Days on Market:
    16
    Last Refresh:
    May 15 at 7:01 am

    Property Features for 50 Springfield Ave

    General Information

    Standard status
    Active
    Size
    7,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    CHRISTOPHER CHIN

    Listing agent CHRISTOPHER CHIN

    Listing office

    Listing date May 15, 2026

    Source Elliman

    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 CHRISTOPHER CHIN

    HighLights

    • Rare 7,000 SF professional flex facility in the Springfield/Short Hills corridor.
    • Unrivaled vehicle capacity with 23 total vehicle stalls (19 surface + 4 internal garages), a 320% parking surplus.
    • Five high‑clearance drive‑in bays, including an oversized 12' door.
    • Turn‑key professional wing with two private offices.
    • Five distinct access points facilitating a high‑efficiency circular workflow.
    • Minutes from NJ‑24, I‑78, and the GSP with significant signage opportunities.

    Overview

    This 7,000 SF flex facility is located in the Springfield/Short Hills area. Designed for modern logistics, the property includes 23 vehicle stalls, consisting of 19 surface spaces and 4 internal garages. This provides a 320% parking surplus. The property features five high-clearance drive-in bays, including one oversized 12' door suitable for high-roof Sprinter vans and four 10' bays for standard fleet vehicles. The interior includes a professional wing with two private offices. Five access points facilitate a circular workflow, and the flexible footprint is divisible for scale-up tenants in the 3,000 to 5,000 SF range. The location provides access to NJ-24, I-78, and the Garden State Parkway, and offers signage opportunities in a high-wealth demographic area. The property is suitable for high-staff medical clinics or fleet-heavy service contractors. The location has a walk score of 84, indicating it is very walkable, and a bike score of 52, indicating it is bikeable.
    Location Intelligence

    Current Use by Public Records

    Tru Form Inc Cosmetic Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Danielle's Catering — 26 Washington Ave, Springfield, NJ 07081

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.3181028
    Latitude
    40.7021552

    Nearby Similar for Lease

    • $2,250,000 SF/Yr
      7,000 SF

      Premier Flex Facility in Springfield

      7,000 SF flex facility with high vehicle capacity.
      50 Springfield Ave, Springfield Twp., NJ 07081
      View Details
    • $1,000/Mo

      Renovated Office Suite For Rent

      Move-in ready office suite with utilities included and convenient location.
      26 Millburn Ave Ste 4, Springfield Twp., NJ 07081-1069
      View Details
    • $2,500/Mo
      11,000 SF

      Renovated Office Suite For Rent

      Move-in ready office suite with flexible furnishing options.
      11 Dundar Rd, Springfield Twp., NJ 07081
      View Details
    • $500/Mo
      21,614 SF

      Professional Office Building in Springfield

      Versatile office spaces available in Springfield, New Jersey.
      99 Morris Ave Unit 201, Springfield Twp., NJ 07081
      View Details
    • $1,800/Mo
      21,614 SF

      Professional Office Building in Springfield

      Versatile office spaces available in Springfield, New Jersey.
      99 Morris Ave Unit 104, Springfield Twp., NJ 07081
      View Details
    • $1,105/Mo
      21,614 SF

      Professional Office Building in Springfield

      Versatile office leasing opportunity in Springfield, New Jersey.
      99 Morris Ave Unit 102, Springfield Twp., NJ 07081
      View Details
    • $6,830/Mo
      21,614 SF

      Professional Office Building in Springfield

      Versatile leasing opportunity in a three-story office building.
      99 Morris Ave Unit 301, Springfield Twp., NJ 07081
      View Details
    • $1,871/Mo
      21,614 SF

      Professional Office Building in Springfield

      Versatile office spaces available for lease in Springfield, New Jersey.
      99 Morris Ave Unit 304, Springfield Twp., NJ 07081
      View Details
    • $28 SF/Yr
      1,510 SF

      Retail Space Available For Rent

      Retail space for rent featuring vanilla box delivery.
      242 Mountain Ave, Springfield, NJ
      View Details
    • $1,917/Mo
      974 SF

      Office Space with Utilities Included

      974 SF office space for rent, utilities included.
      99 Morris Ave Unit 302, Springfield Twp., NJ 07081
      View Details
    • $1,700/Mo
      1,300 SF

      Office Space in Professional Building

      1300 sq ft office space available February 2026.
      110 Hillside Ave, Springfield Twp., NJ 07081
      View Details
    • $10,417/Mo
      21,614 SF

      Professional Office Building in Springfield

      Versatile leasing opportunity in Springfield, New Jersey.
      99 Morris Ave Unit 204, Springfield Twp., NJ 07081
      View Details

    FAQs

    What type of property is this?
    Flex space - 7,000 SF flex space with ample parking and drive-in bays.
    Where is this flex space located?
    The property is located at 50 Springfield Ave Springfield, NJ.
    What is the lease rate?
    The lease rate is $126,000.
    What are key features of this property?
    This property features: Rare 7,000 SF professional flex facility in the Springfield/Short Hills corridor.; Unrivaled vehicle capacity with **23 total vehicle stalls** (19 surface + 4 internal garages), a 320% parking surplus.; **Five high‑clearance drive‑in bays**, including an oversized 12' door.
    We can help!
    Listing Contact
    CHRISTOPHER CHIN
    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

    Thank You for Inquiry
    50 Springfield Ave, Springfield Twp., NJ 07081-1304
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!