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Listed by Jie Chan Chen Weichert Realtors, Ridgewood
$ 899,900
Est. payment /mo
Active
220 Bloomfield AVE Montclair, NJ 07042
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Res/Com Mixed
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26011274
Style Res/Com Mixed
Property Sub-Type Res/Com Mixed
Property Description
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, 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. The rental income is $7,333 per month. 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.
Location
State NJ
County Essex
Nearby Locations
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