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Property profile & analytics
OFF-MARKET Estimated value $745,000
Commercial real estate

1755 Springfield Ave Maplewood, NJ 07040-2995

4,234 SF 0.06 ac lot Built 1927
Entity Owned 1-yr Hold Free & Clear
Property ID
US59-0088377
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1927
Total area 4,234 SF
Lot 0.06 ac (2,500 SF)
Zoning code PRB
APN 11 00049- 06-00255
UPID US59-0088377
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Deluxe Nails Studio llc Nail Salon
  • BERGEN TRUCKING LLC Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$745k
CAP Approach CAP
$900k
Comparable Approach Comparable
$877k
Blend (final) Blend
$745k
Owner & transaction history
K&r 1755 Springfield Ave LLC · 1 yrs held
K&r 1755 Springfield Ave LLC
since 2024
Last sale
$745,000
5 recorded transactions
2024
$745,000
2022
Price N/A
2022
$800,000
2005
$432,000
2004
$335,000
Zoning & alternative use
PRB · Maplewood, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Pedestrian Retail Business (PRB Zone). (1) Permitted principal uses. (a) Retail businesses, not including pawnshops, and check cashing establishments. (b) Financial institutions. (c) Eat-in and/or takeout restaurants, not including fast-food restaurants. (d) Dwellings. (e) Offices. (f) Professional offices. (g) Businesses that are primarily instructional. (h…

Zone name Pedestrian Retail Business
General category COMMERCIAL
Zone area 24.94 ac
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