504 Springfield Ave, Newark, NJ 07103

Building Details

Year Built

1947

Listing agent TINA REBIMBAS TORRES

Listing office RE/MAX LIFETIME REALTORS b***@gmail.com Show Phone

Listing date Dec 5, 2025

Source Corcoran

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Overview

This mixed-use building offers both commercial and residential income opportunities. The first floor retail unit, previously occupied by a pharmacy, presents an excellent opportunity for a variety of potential businesses. The second and third floors each include large, residential apartments with 4 bedrooms and 1 bathroom. Note that one bedroom in each apartment does not include a closet. These units offer high ceilings and generous layouts, with both front and rear stair access. Separate utilities are in place. An unfinished basement provides storage space. Building upgrades were completed in 2006, including updated electrical systems and central air. The property is being sold as-is, presenting an opportunity for an investor or owner-occupant to add value and maximize income. The store rent potential is estimated at $2,500 to $3,000. The total area is approximately 4,700 square feet. The basement measures approximately 1,229 square feet, the retail floor is 1,099 square feet, and the 2nd and 3rd floor units are each 1,184 square feet. Square footage measurements were calculated by the Matterport System and should be considered approximate. The annual income potential is estimated at $100,000 to $110,000.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

Location Insight

• Map
• Local Demand

City

Newark

County

Essex

State

New Jersey

Longitude

-74.2027

Latitude

40.732

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FAQs

What type of property is this?

Mixed-use property - Mixed-use building with retail space and residential apartments for sale.

Where is this mixed-use property located?

The property is located at 504 Springfield Ave Newark, NJ.

What is the asking price?

The asking price for this property is $649,999.

What are key features of this property?

This property features: High Income Potential: Projected annual income of $100,000-$110,000.; Mixed‑Use Property: Combines commercial and residential income streams.; Large Residential Units: Two apartments, each with 4 bedrooms.