Turnkey Laundromat and Real
For Sale
Contact for pricing
625-627 Springfield Avenue, Newark, NJ 07103
Turnkey laundromat operation with updated HVAC and equipment, offered together with the underlying real estate for a ready-to-run business.
Property Size2,712 SF
Price / SF$247.05
Days on Market62
Property Features for 625-627 Springfield Avenue
General Information
Standard status
Active
Size
2,712 SF
Property subtype
Business for Sale
Zoning
Commercial
Investment Type
Owner/User
Net Operating Income
$80,000
Additional Details
Business Included
Yes
Building Details
Year Renovated
2025
Stories
1
Units
1
Listing Agency:
CENTURY 21 Cedarcrest Realty
(973) 228-1050
Listed By:
Hannah Ng · License #2565789
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 10 at 2:39PM
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 CENTURY 21 Cedarcrest Realty
Investment Insights
Based on property information with market context.
This offering combines the underlying retail property and a well-established, family-owned laundromat business, sold together as a turnkey operation. The facility includes 23 washers, featuring several high-capacity machines that accommodate up to 60 pounds, along with 20 dryers. In addition to self-service laundry, the business provides wash-and-fold service by the pound. The operation also generates ancillary income through an ATM, snack vending machine, and beverage vending machine.
The laundromat is situated in a densely populated residential neighborhood with surrounding homes, apartments, restaurants, and local businesses. A bus stop for Routes 25 and 375 is located directly in front of the property, and ample street parking is available for customer convenience.
For a new owner, this is a practical owner-operator or tenant-buyer setup because the business is already running and benefits from recent improvements, including newer heating and air conditioning systems installed in 2025, a new coin change machine, a newer basement hot water heater, and a newer basement access door. Previous pickup and delivery services have been discontinued, which may appeal to an operator looking to reintroduce that service line if desired. Financials are available upon request.
The laundromat is situated in a densely populated residential neighborhood with surrounding homes, apartments, restaurants, and local businesses. A bus stop for Routes 25 and 375 is located directly in front of the property, and ample street parking is available for customer convenience.
For a new owner, this is a practical owner-operator or tenant-buyer setup because the business is already running and benefits from recent improvements, including newer heating and air conditioning systems installed in 2025, a new coin change machine, a newer basement hot water heater, and a newer basement access door. Previous pickup and delivery services have been discontinued, which may appeal to an operator looking to reintroduce that service line if desired. Financials are available upon request.
Key Highlights
- Turnkey laundromat business sold together with the underlying real estate
- Equipment includes 23 washers (high‑capacity up to 60‑lb) and 20 dryers plus wash‑and‑fold by the pound
- Recent upgrades include 2025 heating and air conditioning, new coin change machine, newer basement hot water heater, and newer basement access 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
$43,486
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
6.49%
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%
$869,720
$869.7K
Cap Rate 7%
$621,229
$621.2K
Cap Rate 9%
$483,178
$483.2K
Market Conditions
NOI Build-Up for 2,712 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
$68.3K $25.20/SF
− Vacancy
−$6.2K −$2.29/SF
EGI
$62.1K $22.91/SF
− OpEx
−$18.6K −$6.87/SF
NOI
$43.5K $16.03/SF
Area
ZIP 07103
Vacancy
9.10%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$869,720
Cap Rate 7%
$621,229
Cap Rate 9%
$483,178
Alternative Uses
Best Use
Retail
$621.2K
$543.6K – $724.8K
NOI $43,486 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$970.0K
$848.8K – $1.13M
NOI $67,900 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,404
Businesses Nearby
226k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 31%
Shops & Services 24%
Apparel 7%
ShopRite
Groceries
69,926 visits/mo
0.4 miles
McDonald's
Dining
28,705 visits/mo
0.4 miles
Dollar Tree
Shops & Services
16,256 visits/mo
0.5 miles
Starbucks
Dining
11,346 visits/mo
0.4 miles
Bank of America
Shops & Services
11,294 visits/mo
0.0 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turnkey laundromat operation with updated HVAC and equipment, offered together with the underlying real estate for a ready-to-run business.
Where is this retail space located?
The property is located at 625-627 Springfield Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Turnkey laundromat business sold together with the underlying real estate; Equipment includes 23 washers (high‑capacity up to 60‑lb) and 20 dryers plus wash‑and‑fold by the pound; Recent upgrades include 2025 heating and air conditioning, new coin change machine, newer basement hot water heater, and newer basement access door
