Mixed-Use Building with Income
For Sale
$649,999
Pending
504 Springfield Avenue, Newark, NJ 07103
Mixed-use building featuring retail space and residential apartments.
Property Size4,700 SF
Lot Size0.06 Acres
Days on Market155
Property Features for 504 Springfield Avenue
General Information
Standard status
Pending
Size
4,700 SF
Lot size
0.06 Acres
Taxes and HOA fees
Annual Taxes
$10,713
Amenities
Central Air, Gas
Baseboard, Central, Natural Gas, Forced Air
Listing Agency:
RE/MAX Lifetime Realtors
(973) 332-3022
Listed By:
Tina Torres · License #0571718
(973) 332-3022
Source:
Evrealestate
Added: Mar 30
Changed: Aug 23
Last Checked: Aug 30 at 3:31PM
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 RE/MAX Lifetime Realtors
Investment Insights
Based on property information with market context.
This mixed-use building offers both commercial and residential income opportunities. The first floor features a retail unit previously occupied by a pharmacy, suitable for various potential businesses. The 2nd and 3rd floors each contain large, residential apartments with 3 bedrooms, with the potential for 4, and 1 bathroom. One bedroom in each unit does not include a closet. These units feature high ceilings, generous layouts, and front and rear stair access. Separate utilities are in place. Building upgrades were completed in 2006, including updated electrical systems and central air. The unfinished basement offers storage space. 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 $2,500 - $3,000. The total square footage is approximately 4,700 sq ft. The basement is 1,229 sq ft, the retail floor is 1,099 sq ft, the 2nd floor unit is 1,184 sqft, and the 3rd floor unit is 1,184 sq ft. The lot size is 24x105. Taxes are $10,713. The bike score is 50, indicating it is bikeable. The walk score is 69, indicating it is somewhat walkable. The transit score is 61, indicating good transit.
Key Highlights
- Mixed‑use building offering both commercial and residential income streams.
- High income potential: Potential Annual Income $100,000 -$110,000(+/-).
- Large residential apartments on the 2nd and 3rd floors, each with 3 (potentially 4) bedrooms.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building featuring retail space and residential apartments.
Where is this mixed-use property located?
The property is located at 504 Springfield Avenue 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: Mixed‑use building offering both commercial and residential income streams.; High income potential: Potential Annual Income $100,000 -$110,000(+/-).; Large residential apartments on the 2nd and 3rd floors, each with 3 (potentially 4) bedrooms.
