1878 Springfield Ave | Maplewood Twp.
Fantastic opportunity to own a mixed-use building in Maplewood's highly sought-after commercial area is now available for purchase. Separately metered, this 6,000 sq ft, multi-tenant investment property comes 100% leased with 2 long-term storefront tenants with annual rental increases, 4 residential apartments and comes with 4 parking spots and finished basement. Located on a busy, high visibility street - first level includes a well-known restaurant and a nail salon. Second level has 3 two-bedroom apartments and 1 studio apartment (some units currently still leased below market value). Close in proximity to the Maplewood business district, charming Maplewood downtown, parks and Maplewood Country Club; just minutes of GSP and Rt 78, less than 10 miles away from Newark International Airport and within minutes from various public transportation options, this location is very commuter accessible as well as desirable. Additionally, this building comes with various upgrades and repairs completed within the last few years: new roof (2021), 3 newer hot water tanks (2021), updated bath and paint in Apt A (2021) new kitchen cabinets in Apt B (2022), entire building and basement repainted (2022), new security system/cameras (2022). Rare offerings like this don't come around too often in such prime locations, so take ownership on this one and reach out today! GSMLS 3932584
Directions to property: NJ Turnpike N to exit 14-14A-14B-14C for I-78 W toward US-1/US-9; exit 50B toward Maplewood/Millbur
