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1000, 994, 992 (Springfield ave) and 7 Myrtle 1000 Springfield Ave 6,445 SF 65% Leased Retail Building Irvington, NJ 07111 $7,398,376 CAD ($1,147.92 CAD/SF)
EXECUTIVE SUMMARY
A rare investment opportunity to acquire a portfolio of four mixed-use commercial properties located at 1000, 992, and 994 Springfield Avenue, and 7 Myrtle Avenue in Irvington, New Jersey. Priced at $5,300,000, this portfolio features a strong mix of retail and residential units with long-term tenants—many in place for over two decades—providing stable cash flow and proven performance. Strategically positioned along the bustling Springfield Avenue corridor, these properties benefit from excellent visibility, consistent foot traffic, and proximity to major highways and public transit. 992 and 1000 Springfield Avenue offer significant upside potential for increased revenue, while 994 Springfield and 7 Myrtle contribute to the portfolio’s steady income base. This offering combines immediate income with long-term growth potential, making it an ideal investment for those seeking a stable, value-add opportunity in a thriving Essex County market.
Highlights: 4 parcel: 1000 Springfield Ave, 994 Springfield Ave 992 Springfield Ave 7 Mrytle Irvington NJ
Listing Price: $5,300,000
Portfolio of 4 Adjacent/Multi-Site Properties
in the heart of Irvington kitty corner of 3 intersection and 1 block away from public transportation.
Mixed-Use Configuration – Retail & Residential units
Tenancy: Longstanding tenants with over 20 years of occupancy
Excellent Visibility & Foot Traffic on Springfield Ave
Potential for Revenue Growth at 992 & 1000 Springfield Ave (see attached cap rate sheet for financial details)
Located in a Strong Retail Corridor near major highways, public transit, and community amenities
Highlights: 4 parcel: 1000 Springfield Ave, 994 Springfield Ave 992 Springfield Ave 7 Mrytle Irvington NJ
Listing Price: $5,300,000
Portfolio of 4 Adjacent/Multi-Site Properties
in the heart of Irvington kitty corner of 3 intersection and 1 block away from public transportation.
Mixed-Use Configuration – Retail & Residential units
Tenancy: Longstanding tenants with over 20 years of occupancy
Excellent Visibility & Foot Traffic on Springfield Ave
Potential for Revenue Growth at 992 & 1000 Springfield Ave (see attached cap rate sheet for financial details)
Located in a Strong Retail Corridor near major highways, public transit, and community amenities
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$564,904
|
$87.65
|
| Other Income |
$312,686
|
$48.52
|
| Vacancy Loss |
$312,686
|
$48.52
|
| Effective Gross Income |
$564,904
|
$87.65
|
| Taxes |
$95,971
|
$14.89
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$95,971
|
$14.89
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $564,904 |
| Annual Per SF | $87.65 |
| Other Income (CAD) | |
|---|---|
| Annual | $312,686 |
| Annual Per SF | $48.52 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $312,686 |
| Annual Per SF | $48.52 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $564,904 |
| Annual Per SF | $87.65 |
| Taxes (CAD) | |
|---|---|
| Annual | $95,971 |
| Annual Per SF | $14.89 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $95,971 |
| Annual Per SF | $14.89 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
6,445 SF
Building Class
C
Year Built
1965
Price
$7,398,376 CAD
Price Per SF
$1,147.92 CAD
Percent Leased
65%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.64
Lot Size
0.23 AC
Zoning
Commercial - 1000, 994 and 992 Springfield Ave are zone for commercial but can be zone for multi usage
7 Mrytle Ave is zone for multi usage
Frontage
AMENITIES
- Bus Line
- Freeway Visibility
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Irvington Uniform
- Retailer
- -
- -
- -
-
- Professional, Scientific, and Technical Services
- -
- -
- -
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- Lee Nails I
- Services
- -
- -
- -
- Macy Beauty Supply
- Retailer
- -
- -
- -
- Self Love Healthcare Llc
- Health Care and Social Assistance
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Irvington Uniform | Retailer | - | - | - | ||
|
|
Professional, Scientific, and Technical Services | - | - | - | ||
| Lee Nails I | Services | - | - | - | ||
| Macy Beauty Supply | Retailer | - | - | - | ||
| Self Love Healthcare Llc | Health Care and Social Assistance | - | - | - |
Walk Score®
Very Walkable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 09-00084-0000-00057 | Total Assessment | $2,412,622 CAD (2025) |
| Land Assessment | $570,997 CAD (2025) | Annual Taxes | $95,971 CAD ($14.89 CAD/SF) |
| Improvements Assessment | $1,841,625 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
09-00084-0000-00057
Land Assessment
$570,997 CAD (2025)
Improvements Assessment
$1,841,625 CAD (2025)
Total Assessment
$2,412,622 CAD (2025)
Annual Taxes
$95,971 CAD ($14.89 CAD/SF)
Tax Year
2024
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1000, 994, 992 (Springfield ave) and 7 Myrtle | 1000 Springfield Ave
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