Turnkey Laundromat and Real
625-627 Springfield Avenue Newark, NJ 07103
625-627 Springfield Avenue, Newark, NJ, 07103
Contact for pricing
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
AddedJun 11
Days on Market36
Last RefreshJul 13 at 5:34 am
Property Features for 625-627 Springfield Avenue
General Information
- Standard status
- Active
- Size
- 2,712 SF
- Property subtype
- Business for Sale
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
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
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 |
2,712 SF · lease $25.20/SF/yr · vacancy 9.10% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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
