1291 Springfield Ave - Service Station FOR SALE


New Providence, NJ 07974
$4,900,000 USD
718-663-2639
1291 Springfield Ave, New Providence, NJ for Sale
$4,900,000 USD
Service Station - FOR SALE
1/8
null | Request Cap Rate

1291 Springfield Ave
New Providence, NJ 07974


HIGHLIGHTS

  • Single Tenant Absolute NNN Lease - Effective April 2025, Tenant will pay $272,500/annum NNN
  • Credit Tenancy - Citizens Bank, NA is an investment grade tenant with an “A-” rating by S&P Global Ratings, and has over 1,000 locations
  • Favorable Placer.AI Data 11.3K customers make a combined 27.1K visits to this Citizens Bank per year. Deposit activity with over $60,000,000 annually
  • Exposure | Frontage | Traffic - 300’+ of linear frontage along Springfield Avenue and Passaic Street. Positioned at a four-way signalized intersection
  • Desirable Retail Location - Situated directly across from New Providence Center featuring Starbucks, Smashburger, and ACME Markets, UPS
  • Strong Local Demographics - Total Households 23K (3 mi.) • Average Household Income $275K (3 mi.) • Daytime Total Population 74.79K (3 mi.)

OVERVIEW

ABSOLUTE NNN-LEASED CITIZENS BANK INVESTMENT OPPORTUNITY

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$1,307 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Citizens Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

Central Commercial (C)

APN/PARCEL ID

11-00050-0000-00018

ASK ABOUT THIS PROPERTY

Stephen PreussRipco Real EstateMore Info
718-663-2639

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Stephen PreussRipco Real EstateMore Info
718-663-2639

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