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Thomas "Chopper" Russo

chopper@chopperrussoteam.com +1(201) 240-5200

$ 1,999,999

Est. payment | -/mo

5,500 SqFt

Save

$ 1,999,999

Est. payment | -/mo

Save

5,500 SqFt

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 5,500 sqft

Price per Sqft $363

MLS Listing ID 4025220

Year Built 1902

Annual Tax Amount $32,709

Tax Year 2025

Lot Size 3,049 Sqft

Property Sub-Type Mixed Use

Property Description

Mixed use investment opportunity located in the heart of Montclair, New Jersey. The property consists of five total units, including a ground floor restaurant and four residential apartments, comprised of two three bedroom units and two one bedroom units, totaling approximately 5,500 square feet.The asset currently generates approximately $143,000 in gross income and approximately $85,000 in net operating income, providing stable in place cash flow. The residential component offers leasing flexibility with three of four units currently on a month to month basis, allowing for potential income growth over time.The retail space is occupied by a restaurant tenant with a lease in place through September 2028 and annual rent increases. Tenant contributes to utilities and certain operating expenses.Located along Bloomfield Avenue, one of Montclair's primary retail corridors, the property is surrounded by restaurants, shops, and neighborhood amenities. The property is within walking distance to the Bay Street Train Station, providing direct access to New York City. Montclair is a well established market known for strong rental demand and limited supply. The ongoing redevelopment of Lackawanna Plaza is expected to further enhance the area with additional residential, retail, and grocery components.

Location

State NJ

County Essex

Zoning C1

Rooms

Basement Storage, Walkout

Interior

Heating Gas-Natural

Cooling 1 Unit, Central Air

Equipment See Remarks

Heat Source Gas-Natural

Exterior

Exterior Feature Brick/Block

Utilities Available Gas-Natural

Roof Type Flat

Building

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Listed by KELLER WILLIAMS - NJ METRO GROUP

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Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

381 Bloomfield Ave Montclair Twp., NJ 07042

Thomas "Chopper" Russo

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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381 Bloomfield Ave