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.
- Added:
- Jun 11, 2026
- Days on Market:
- 14
- Last Refresh:
- Jun 20 at 10:13 am
Property Features for 625-627 Springfield Avenue
General Information
- Standard status
- Active
- Size
- 2,712 SF
- Property subtype
- Business for Sale
Listing agent Hannah Ng License #2565789
Listing office CENTURY 21 Cedarcrest Realty
Listing date Jun 11, 2026
Source Crexi
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
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
- Additional income from an ATM, snack vending machine, and beverage vending machine
- Bus stop for Routes 25 and 375 is directly in front of the property, with ample street parking for customers
- Current hours: Mon‑Fri 8:00 AM‑8:00 PM and Sat‑Sun 7:00 AM‑8:00 PM
Overview
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.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.3k | $25.20 |
| − Vacancy | −$6.2k | −$2.29 |
| EGI | $62.1k | $22.91 |
| − OpEx | −$18.6k | −$6.87 |
| NOI | $43.5k | $16.03 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2095433
- Latitude
- 40.7303994
