454 Springfield Ave, Newark City, NJ 07103
Essex County
Key Facts
Description
Take advantage of an opportunity to diversity your portfolio owning an income producing commercial property in a highly visible location, prime redevelopment section of Newark, diagonally across from Home Depot.Includes Two storefronts (specifically a renovated barbershop paying $2,321.72 per month (annual 5% rate increase); a convenient store paying $2,600 per month)(annual increase of $1200); one upstairs office space (paying $1,906.17 per month)(annual 3% increase); and a maintenance free billboard ($1500 per month) (assumes responsibility for roof repairs). Cap rate will continually increase each year. *Sold As Is. City and State documents/ inspections are buyer's responsibility
Property Information
Property Type
Commercial Sale
Year Built
1940
Stories
2
Living Area
2,980 sq ft
Lot Size
0.07 acres
Ownership
Fee Simple
Days on Market
4
MLS® Listing#
4035610
Property Features
Parking
Lot Features
Sewer
Water Source
Financial Details
Annual Taxes
$13,584
Tax year 2025
Assessed Value
$339,700
Parcel Number
1614-00301-0001-00055-0000-
Directions
Intersection of S7th St and Springfield Avenue
Affordability Calculator
$171,800
Estimated monthly payment
$4,572/mo
Principal $687,200 · Est. interest $958,705 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Newark City, NJ
- $613,416
- Median Listing Price
- 48
- Median Days on Market
- 1,388
- Median Sq Ft
- $419
- Median Price / Sq Ft
- 3,249
- Active Listings
- This home’s price is 40% above the area median.
- Its price per sq ft is 31% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Newark City, NJ.
Location
Points of Interest in Newark City, NJ
Showing the Newark City area map.
Nearby Schools
Harriet Tubman Elementary School
Elementary · 0.2 mi away
Harriet Tubman Pto Aftercare
Elementary · 0.2 mi away
Cleveland Elementary School
Elementary · 0.3 mi away
Achieve Community Charter School
School · 0.3 mi away
Bard High School Early College
Secondary School · 0.3 mi away
Camden Street Elementary School
Elementary · 0.3 mi away
Harold Wilson School
School · 0.4 mi away
Avon Avenue School
Elementary · 0.5 mi away
Central High School
Secondary · 0.5 mi away
North Star Academy West Side Park Elementary School
Elementary · 0.5 mi away
Kipp Thrive Academy
School · 0.5 mi away
Kipp Bold Academy
School · 0.5 mi away
Newark Leadership Academy
School · 0.5 mi away
Newark Vocational High School
Secondary · 0.5 mi away
South 17th Street School
Elementary · 0.5 mi away
Lead Charter School
Secondary · 0.6 mi away
Saint Antoninus School
School · 0.6 mi away
New Horizons Community Charter School
Elementary · 0.6 mi away
West Side High School
Secondary · 0.7 mi away
Newark Evening High School
Secondary · 0.7 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
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|---|---|---|---|---|
| 205 10TH ST 8Q, Jersey City, NJ | $605,000 | 1 | 1 | 798 |
| 132 Hillside Rd, Elizabeth City, NJ | $609,000 | 4 | 3 | 2,217 |
| 169 Berkshire Ave, Paterson City, NJ | $609,900 | 4 | 2 | — |
| 333 Magnolia Ave, Elizabeth City, NJ | $610,000 | 6 | 2 | 19,998 |
| 3 5th Avenue Unit #106, Neptune City, NJ | $610,000 | 1 | 2 | 1,041 |
| 1 5th Avenue Unit# 102, Neptune City, NJ | $610,000 | 1 | 2 | 1,220 |
Moving Cost Estimate
EXIT Agents in Newark City
Listing Courtesy: EXODUS REAL ESTATE - 7327379013