1291 Springfield Ave - Service Station FOR SALE
New Providence, NJ 07974 |
$4,900,000 USD
718-663-2639
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.)
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
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718-663-2639
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718-663-2639
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