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$749,000

  • For Sale
  • Active
  • Commercial
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Turnkey Mixed-Use Gem on Springfield Avenue! Welcome to 492 Springfield Avenue in Newark, NJ an exceptional investment opportunity combining strong income potential with prime commercial exposure. This versatile property features two generously sized residential units, each offering 3 bedrooms and 1 full bath, thoughtfully designed with separate utilities to maximize convenience and efficiency. The street-level commercial space presents endless possibilities perfect for retail, office, or service use while benefiting from outstanding visibility along one of the West Side's most active corridors. High foot and vehicle traffic make this an ideal setting for attracting steady business. Ideally located near public transportation, schools, shopping, and neighborhood amenities, this property appeals to both quality tenants and thriving businesses alike. Positioned in a rapidly developing area, it offers incredible upside for investors, owner-occupants, or entrepreneurs seeking a dynamic live-work setup. A rare chance to secure a high-performing asset in one of Newark's growing districts don't let this opportunity pass you by!

Full Property Details for 492 Springfield Ave

General

  • Price: $749,000
  • Taxes: $7,730 (2025)
  • Status: Active
  • Type: Commercial
  • Source: Garden_State
  • MLS ID: 4023832
  • Updated: 4/28/2026
  • Added to Site: 8 day(s) ago

Business

  • Includes: Building & Land

Interior

  • Flooring: Wood

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Restrooms: 3

Additional Information

  • Equipment: See Remarks, Smoke Detector

Parking

  • Parking: On-Street Parking

Location

  • County: Essex
  • Driving Directions: 18th Ave to S 12th St then Springfield Ave
  • Location Details: Business District

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: 3 Units
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: Electric, Natural Gas

Structural Information

  • Construction: See Remarks, Wood
  • Exterior Const.: Vinyl Siding
  • Basement: Yes
  • Basement Desc.: Unfinished
  • Roof: Flat, Rubberized
  • Stories in Building: 3
  • Square Feet: 1,850
  • Aprox. Leasable: 1,850 Sq. Ft.

Unit Information

  • 3 Bedroom Units: 2
  • Units w/Full Bath: 2
  • Units w/Half Bath: 1

Lot Features

  • Lot Size (Acres): 0.04
  • Lot Size: 25X75.6
  • Zoning: Commercial
  • Lot Description: Irregular Lot

Financial Considerations

  • Price Per Sq. Ft.: $405
  • Assessment Amount: $193,300
  • Land Assmt: $50,600
  • Tax Amount: $7,730
  • Tax Year: 2025

Disclosures and Reports

  • Ownership: Fee Simple
  • Documents Avail.: No Documents Available
  • Disclosures: Yes
  • APN: 1614-00307-0000-00018-0000-
  • Block: 307
  • Lot Number: 18

Listed by Keller Williams Park Views

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Listing agent

— 492 Springfield Ave —

  • Keller Williams Park Views

201-640-0487

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 492 Springfield Ave

School District:Newark City School District
NameGradesDistance
Harriet Tubman Elementary School
504 South 10th Street, Newark, NJ 07103
PK-40.2 mi
Avon Avenue School
219 Avon Avenue, Newark, NJ 07108
7-80.4 mi
Camden Street Elementary School
281 Camden Street, Newark, NJ 07103
PK-80.4 mi
Central High School, Newark, NJ
250 18th Avenue, Newark, NJ 07103
9-120.5 mi
West Side High School
403 South Orange Avenue, Newark, NJ 07103
9-120.7 mi
Malcolm X Shabazz High School
80 Johnson Avenue, Newark, NJ 07108
9-121 mi
Cleveland Elementary School
388 Bergen St, Newark, NJ 07103
K-60.4 mi
Thirteenth Avenue Elementary School
359 13th Avenue, Newark, NJ 07103
5-80.7 mi
Belmont-Runyon Elementary School
1 Belmont Runyon Way, Newark, NJ 07108
K-81.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 492 Springfield Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/28/2026
Listed
$749,000
368.12%
MLS
2/28/2018
Sold
$160,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 492 Springfield Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$7,351
2%
$193,300
—
2023
$7,206
—
$193,300
—
2022
$7,222
1%
$193,300
—
2021
$7,116
28%
$193,300
-12%
2021
$5,579
-32%
$218,500
—
2019
$8,218
2%
$218,500
—
2018
$8,069
4%
$218,500
—
2017
$7,779
3%
$218,500
—
2016
$7,516
4%
$218,500
—
2015
$7,230
12%
$218,500
—
2013
$6,452
—
$218,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 492 Springfield Ave

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Keller Williams Park Views

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492 Springfield Ave, Newark, NJ 07103 (MLS# 4023832) is a Commercial property. 492 Springfield Ave is currently listed for $749,000 and was received on April 28, 2026. Want to learn more about 492 Springfield Ave? Do you have questions about finding other Commercial real estate for sale in Newark? You can browse all Newark real estate or contact a Coldwell Banker agent to request more information.

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