Listed by Marcus & Millichap - New Jersey
$1,300,000
Montclair - Mixed-Use Building
Details
Property Type Retail, Multifamily
Sub Type Storefront, Traditional Office
Square Footage 4,500
Net Rentable (SqFt) 4,500
Tenancy Multi
Pro-Forma Cap Rate 7.16%
Pro-Forma NOI $99,890
Year Built 1920
Stories 3
Acreage 0.070
Zoning R2
Ground Lease No
Retail | 4,500 SqFt
Marketing description
Marcus & Millichap is pleased to exclusively present 26 Orange Road, Montclair, Essex County, New Jersey.
Investment highlights
- Mixed-use Property Comprised of Three (3) Residential Apartments above 1,500 SF Vacant Ground-floor Commercial Space, Offering Immediate Flexibility at Closing
- Current Residential Income Of $77,160 Annually with Pro Forma Upside to ~$92,000 on Existing Units; Apartments Leased on Year-to-Year Terms Allowing Mark-to-Market Growth
- Recent Capital Improvements: New Roof (2018); New First-Floor HVAC (2026) and Boiler (2025); New Washer & Dryer (Unit 2 – 2024).
- Ground-Floor Space Delivered Vacant and Move-In Ready, Suitable for Owner-User Occupancy or Projected Lease-Up at Approximately $52,500 Annually
- Seller has Approvals in Place to Convert the Commercial Space to a Fourth Residential Unit, Creating Potential Additional Income of ~$42,000/Annually
- Positioned Just Off Bloomfield Avenue, Within Close Proximity to Whole Foods Market, Starbucks, and the Full Array of Retail and Dining Options Montclair Has to Offer.
- Located in a High-income Market with $162,00 Average Household Income (1-Mile) and 560,000 Residents Within Five Miles
- Rare Opportunity to Acquire a Flexible, Income-Producing Asset in One of Northern New Jersey’s Most Supply-Constrained Downtown Markets, Suitable for Owner-User, Investor, or Residential Repositioning Strategy
Listing Contacts
Listed by Marcus & Millichap - New Jersey
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