7,000 SF Flex
For Sale
$2,100,000
50 Springfield Ave, Springfield, NJ 07081
Premier flex facility with high vehicle capacity and operational flexibility.
Property Size7,000 SF
Price / SF$300
Days on Market88
Property Features for 50 Springfield Ave
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,643
Amenities
Parking Lot-Exclusive
Building Details
Year Built
1965
Listing Agency:
COLDWELL BANKER REALTY
(201) 963-1400
Listed By:
CHRISTOPHER CHIN
Source:
Corcoran
Added: May 14
Changed: Aug 8
Last Checked: Aug 8 at 3:43PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This 7,000 SF professional flex facility is located in the Springfield/Short Hills corridor. Designed for the modern 2026 logistics landscape, the property offers vehicle capacity and operational flexibility. It features 23 total vehicle stalls, including 19 surface spaces and 4 internal garages, providing a 320% parking surplus suitable for high-staff medical clinics or fleet-heavy service contractors. Logistics are optimized with five high-clearance drive-in bays, including an oversized 12' door for high-roof Sprinter vans and four 10' bays for standard fleet vehicles. The interior includes a turn-key professional wing with two private offices, allowing management to operate alongside warehouse or showroom activities. Five distinct access points facilitate a high-efficiency circular workflow, while the flexible footprint is easily divisible for scale-up tenants between 3,000 and 5,000 SF. The high-visibility facility offers signage opportunities in a high-wealth demographic area and is located minutes from NJ-24, I-78, and the Garden State Parkway.
Key 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).
- Benefit from five high‑clearance drive‑in bays, including one oversized 12' door.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,108
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,162,160
$2.2M
Cap Rate 7%
$1,544,400
$1.5M
Cap Rate 9%
$1,201,200
$1.2M
Market Conditions
NOI Build-Up for 7,000 SF
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.
Gross rent
$189.0K $27.00/SF
− Vacancy
−$22.7K −$3.24/SF
EGI
$166.3K $23.76/SF
− OpEx
−$58.2K −$8.32/SF
NOI
$108.1K $15.44/SF
Area
Union County, NJ
Vacancy
12.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,162,160
Cap Rate 7%
$1,544,400
Cap Rate 9%
$1,201,200
Alternative Uses
Best Use
Flex RnD
$1.54M
$1.35M – $1.80M
NOI $108,108 @ 7.0% cap · market cap 5.15%
Second Best
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,406 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,949 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07081, NJ
17,200
Population
6,844
Households
2.5
Avg Household Size
43
Median Age
64%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
3,308
Density / Sq Mi
$146,059
Median Household Income
$70,781
Median Earnings
$2,135
Median Rent
$590,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Premier flex facility with high vehicle capacity and operational flexibility.
Where is this flex space located?
The property is located at 50 Springfield Ave Springfield, NJ.
What is the asking price?
The asking price for this property is $2,100,000.
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).; Benefit from **five high‑clearance drive‑in bays**, including one oversized 12' door.
