Exceptional mixed-use opportunity in the heart of downtown Montclair! The first floor offers approximately 2,500 SF of retail space with a full basement, one bathroom, and direct access to the backyard. Currently rented on a month-to-month basis, the tenant is open to negotiating a new lease with the new owner,… Read More or the space can be delivered vacant, providing immediate flexibility for retail, restaurant, or service use. Estimated rental income for the retail space is approximately $5,000 per month.The property presents a strong cap rate of 7% or higher, with additional income potential from basement storage. A dedicated loading area with direct basement access further enhances its functionality for a variety of business uses.The second floor features two one bedroom, one bath apartments, leased through the end of February 2027, generating $3,333 per month in rental income. Ideally located in a high-traffic area near shops, restaurants, and public transit, this property is well suited for investors or owner users seeking a versatile asset with stable income and long-term growth potential. Read Less
Courtesy of WEICHERT RLTRS RDG, JIE CHAN CHEN, 917-613-3211
Listing Snapshot
Days Online
152
Last Updated
Property Type
Other
Square Ft.
3,572
Year Built
1945
MLS Number
4018433
30 Days Snapshot Of 07042
$1.38M
+17%
(avg) sold price
22
-18%
homes sold
63
-16%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Full, Storage, Yes
Building
Built in 1945
Cooling
Wall A/C Unit(s), Window A/C(s)
Exterior Features
Brick/Block
Water Features
Public Water
Heating
Gas-Natural, Radiant - Hot Water
Lot
Approximate Lot Size: 35X102 IRR
Property
3,572 sqft building, 3 units
Roof
Flat
Sewer
Public Sewer
Taxes
Annual Tax Amount: $19,250, Tax Rate: 3.516
Utilities
All Underground, Electric, Gas-Natural
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