1882 Springfield Ave - Bank FOR SALE


Maplewood, NJ 07040
$1,550,000 USD
718-360-5059
1882 Springfield Ave, Maplewood, NJ for Sale
$1,550,000 USD
Bank - FOR SALE
1/19
null | Request Cap Rate

1882 Springfield Ave
Maplewood, NJ 07040


HIGHLIGHTS

  • VALUE ADD
  • SHORT TERM LEASES
  • 35%+ RENT UPSIDE

OVERVIEW

1882 Springfield Avenue in Maplewood, NJ, offers an exceptional mixed-use investment opportunity with a well-maintained blend of residential and commercial space. Before being converted into four multifamily units, the property originally operated as a bank, adding unique architectural character and solid structural integrity to the building. The property now consists of four residential apartments, each offering desirable layouts and modern amenities, making them ideal for steady rental income over one retail unit. The retail space benefits from high visibility in a high-traffic commercial area, which enhances the potential for continued tenant interest and future rent growth. A standout feature of this property is the inclusion of 22 dedicated parking spaces, which not only serve the retail customers but also cater to the apartment tenants, making it highly attractive in an area where parking is a rare commodity. Located in the heart of Maplewood’s vibrant retail district, the property enjoys proximity to a variety of shops, restaurants, and essential services, which contributes to its appeal for both residential and commercial tenants. Maplewood is a sought-after location known for its family-friendly atmosphere, top-rated schools, and easy access to New York City via public transportation and major highways like I-78 and the Garden State Parkway. This property offers multiple streams of income and strong long-term growth potential, making it a prime investment in an area that continues to see increasing demand for both commercial and residential real estate.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$235 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,048 SF

ZONING

PRB

APN/PARCEL ID

11-00028-03-00178

ASK ABOUT THIS PROPERTY

Yanni MarmarouInvestment Property Realty GroupMore Info
718-360-5059

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Yanni MarmarouInvestment Property Realty GroupMore Info
718-360-5059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.