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Listed by Paul Washington Coldwell Banker, Upper Montclair
$ 1,099,000
Est. payment | /mo
$ 1,099,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Com/Com Mixed
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 25009455
Style Com/Com Mixed
Property Sub-Type Com/Com Mixed
Property Description
Introducing 1400 Springfield Ave Shops, a fully stabilized neighborhood retail center in the Upper Irvington section of Irvington, NJ. This +6,200 SF building comprises 4 commercial leaseholds dba assorted local business types inclusive of food/tax/laundromat services, and is zoned B-4; General Business. Located along the I-78/Garden State Parkway corridor of East Essex County, this property boasts a 100% occupancy rate, presenting in-place cashflow for the discerning Core Plus long-term hold investor. With strategic county thoroughfare geography along Springfield Ave (approx. 42,258 VPD within 0.10 mile radius) adjacent to the suburban Maplewood border and rental income upside from below-market lease rates, this retail strip center asset offers a compelling investment proposition for continued financial growth.
Location
State NJ
County Essex
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Thomas Mikalouskas
REALTOR® | Lic# 0235388