1755 Springfield Ave, Maplewood, NJ 07040-2995
- Commercial real estate
- 4,234 SF
- 0.06 lot acres
Current Use by Public Records
- Deluxe Nails Studio llc / Nail Salon
- BERGEN TRUCKING LLC / Trucking Company
Property Details for 1755 Springfield Ave
- Year built
- 1927
- Lot size
- 0.06 lot acres
- Zone code
- PRB
- Property type
- Commercial real estate
- APN
- 11 00049- 06-00255
- APU
- 11000490600255
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 8, 2024 | $745,000 | K&r 1755 Springfield Ave LLC | Springfield Ave Management LLC | Deed | — |
| Sep 16, 2022 | — | Springfield Ave Management LLC | — | Deed · related | $400k · Regal Bank |
| Jun 15, 2022 | $800,000 | Springfield Ave Management LLC | 1755 Springfield Avenue Realty LLC | Deed | — |
| Aug 30, 2005 | $432,000 | 1755 Springfield Avenue Realty | 1755 Springfield Avenue LLC | Grant Deed · related | — |
| Feb 6, 2004 | $335,000 | 1755 Springfield Avenue LLC | Fedoseev,eugene | Grant Deed | — |
Description
This exceptional three-story mixed-use property in Maplewood, NJ, offers a compelling investment opportunity. Located at 1755 Springfield Avenue, this 4,500 square foot building boasts a strong 7.21% cap rate and a current NOI of $55,842. The property features one ground-floor retail space of approximately 1,450 square feet, currently occupied by a long-term nail salon tenant under a net lease with a remaining term of approximately two years and a five-year option. Above the retail space are two renovated two-bedroom apartments, one on each of the second and third floors. The second-floor unit includes an additional room. Both apartments benefit from recent renovations (2024) and offer washer/dryer hookups in the basement. Tenants are responsible for their own electricity and gas for heating and hot water. The building is 100% occupied, providing immediate cash flow. The asking price is $775,000, translating to a price per square foot of $172.22. Rent bumps are scheduled for November 2024, as reflected in the operating metrics. This turnkey investment presents a rare opportunity to acquire a well-maintained, high-performing property in a desirable location. The property's advantageous location ensures strong tenant demand for both commercial and residential spaces. The building's solid construction and recent renovations minimize immediate capital expenditure needs.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $745,000
- ML approach
- $745,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $975,000
- 6.5%
- $900,000
- 7%
- $835,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $877,000
Market price range: $762k - $1.87M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Maplewood
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2641
- Latitude
- 40.7213
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
