Skip to main content

Mixed-Use

Springfield Mixed Use Apartments

879 Springfield Ave, Irvington, NJ 07111

Listing Price: $2,825,000

Cap Rate
7.18%
Number of Units
12
Occupancy
100.0%
Price/Unit
$235,417
Price/Gross SF
$201.79
Gross SF
14,000

Investment Overview

Fee simple interest in 879-889 Springfield Ave, Irvington, NJ (12-unit mixed use property). This opportunity is offered at an in-place cap rate of 7.18% with a pro forma cap rate of 7.35%. The property has a Gross Potential Income of $284,487. Please reach out to the exclusive listing team for more information, including a current debt quote from MMCC (Marcus & Millichap Capital Corp).

Investment Highlights

  • In-place 7.18% Cap Rate
  • Large three-bedroom apartments (8), retail spaces (4)
  • Located 0.2 miles from Irvington Bus Terminal (36-minute route to Midtown Manhattan), and close proximity to Garden State Parkway, Downtown Newark employers, convenience stores, restaurants, and more.
  • Rapidly growing multifamily market with numerous new construction projects nearby

Exclusively Listed By

Financing By

Mixed-Use

Springfield Mixed Use Apartments

Listing Price: $2,825,000

Cap Rate
7.18%
Number of Units
12
Occupancy
100.0%
Price/Unit
$235,417
Price/Gross SF
$201.79
Gross SF
14,000

Investment Highlights

  • In-place 7.18% Cap Rate
  • Large three-bedroom apartments (8), retail spaces (4)
  • Located 0.2 miles from Irvington Bus Terminal (36-minute route to Midtown Manhattan), and close proximity to Garden State Parkway, Downtown Newark employers, convenience stores, restaurants, and more.
  • Rapidly growing multifamily market with numerous new construction projects nearby

Investment Overview

Fee simple interest in 879-889 Springfield Ave, Irvington, NJ (12-unit mixed use property). This opportunity is offered at an in-place cap rate of 7.18% with a pro forma cap rate of 7.35%. The property has a Gross Potential Income of $284,487. Please reach out to the exclusive listing team for more information, including a current debt quote from MMCC (Marcus & Millichap Capital Corp).

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower