454 Springfield Ave Newark City, NJ 07103
Other
MLS #: 4035610
Courtesy Of Exodus Real Estate
Property InformationDescription
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
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 3
- Floors: 2
- MLSID: 4035610
- Rooms: Basement
MAP & DIRECTIONS
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