Montclair Mixed Use Investment Opportunity 381 Bloomfield Ave Local commercial 511 m² 100 % Loué À vendre Montclair, NJ 07042 1 722 759 € (3 371,57 €/m²)

EXECUTIVE SUMMARY
381 Bloomfield Avenue presents an opportunity to acquire a mixed use investment property in the heart of Montclair, New Jersey, one of Northern New Jersey’s most supply constrained rental markets. The property consists of a ground floor restaurant and four residential units, including two three bedroom units and two one bedroom units, totaling approximately 5,500 square feet. The asset generates approximately $143,000 in gross income and approximately $85,000 in NOI, with additional upside through residential rent increases and future retail rent adjustment.381 Bloomfield is located a 12 minute walk from the Bay Street Train Station with direct access to New York City and is positioned along Bloomfield Avenue near Montclair’s retail and dining corridor. The redevelopment of Lackawanna Plaza is expected to further enhance demand and long term value in the immediate area.
INVESTMENT HIGHLIGHTS
- NOI Upside Opportunity
- NOI approximately $85,000
- Gross income approximately $143,000
- Below market residential rents provide additional upside
PRIME MONTCLAIR LOCATION
- Walk to Bay Street Train Station with NYC access
- Located near downtown Montclair retail and dining
- Strong demographics and limited new supply
MIXED-USE PROPERTY (RESIDENTIAL/COMMERCIAL)
- 1 commercial unit ground floor
- 2 three bedroom units
- 2 one bedroom units
- Larger units support strong tenant demand
FLEX LEASING STRUCTURE
- 3 of 4 residential units are month to month
- Allows for rent increases upon turnover
- Positioned for continued rent growth
RETAIL INCOME STABILITY AND GROWTH
- Restaurant lease in place through September 2028
- 3 percent annual rent increases
- Tenant contributes to utilities and taxes
SUBMARKET GROWTH DRIVERS
- Lackawanna Plaza redevelopment including residential, retail, and grocery
- Continued demand growth in Montclair rental market
VALUE ADD STRATEGY
- Increase residential rents to market upon tenant turnover
- Capture demand for three bedroom units
- Benefit from contractual retail rent increases
- Adjust retail rent to market over time
PROPERTY OVERVIEW
- Address: 381 Bloomfield Avenue, Montclair, NJ
- Property Type: Mixed use retail and residential
- Building Size: Approximately 5,500 square feet
- Year Built: 1902
- Units: 4 residential units and 1 retail unit
- Condition: Well maintained with ongoing functional utility
LOCATION OVERVIEW
Montclair is a well established market in Northern New Jersey known for its strong demographics, active retail corridors, and access to New York City. The property is located along Bloomfield Avenue within walking distance to the Bay Street Train Station and is surrounded by retail, dining, and neighborhood amenities. The Lackawanna Plaza redevelopment is expected to further enhance the area with new residential and retail components.