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    Montclair Commercial Space for Rent Title is generated by Realmo AI

    289 Park Street, Montclair, NJ 07043

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    For Lease
    $2,200/Mo $10 SF/Yr (calc)

    Commercial - Montclair Twp., NJ

    Property size:
    2,540 SF
    Added:
    Mar 31, 2026
    Days on Market:
    48
    Last Refresh:
    May 17 at 11:06 pm

    Property Features for 289 Park Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    R-1
    Standard status
    Active
    Size
    2,540 SF

    Utilities

    Heating system
    Hot Water (Heating), Radiant

    Building Details

    Year built
    1940
    Flooring type
    Tile
    Building materials
    Block, Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    CRYSTAL JAMES

    Listing agent CRYSTAL JAMES

    Listing office VILLAGE SQUARE REALTORS 87 PARK STREET, Montclair, NJ

    Listing date Mar 31, 2026

    MLS# 4017724 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Versatile 1,475 sq ft ground floor space suitable for various uses.
    • Ideal for non‑profit organizations due to existing tax‑exempt status.
    • All utilities included in the $2,200/month rent.
    • Located in a desirable Montclair location with easy access to transportation and amenities.
    • Open layout with high ceilings and flexible floor space.
    • Community‑oriented environment within the well‑maintained Friends Meeting House.

    Overview

    Located on the ground floor of the Friends Meeting House on Park Street in Montclair, this rental opportunity offers approximately 1,475 sq ft of versatile space. The open layout is suitable for a variety of uses, including a daycare center, music school, art studio, or fitness studio. The property provides a community-oriented environment, ideal for organizations focused on education, enrichment, and the arts. Due to the existing tax-exempt status, this space is suited for non-profit use, though for-profit businesses will be considered. It is an opportunity for mission-driven organizations seeking an affordable and supportive setting to serve the community. The property is situated in a desirable Montclair location with access to local neighborhoods, public transportation, and nearby amenities. High ceilings and flexible floor space allow for customization. All utilities are included. The kitchen is a shared space. Tenants are responsible for interior modifications and repairs. On-street parking is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Montclair Quaker Meeting Church Children's Studio High School

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • bloom CHILDCARE + COWORKING — 52 Upper Montclair Plaza, Montclair, NJ 07043
    • Rocket Club — Montclair, NJ 07042
    • Nanny Consultants NJ — Montclair, NJ 07042
    • St. James Preschool — 581 Valley Rd, Montclair, NJ 07043
    • Side Door — 170 cooper ave, montclair, nj 07043

    Location Insight

    • Map
    • Local Demand
    City
    Montclair
    County
    Essex
    State
    New Jersey
    Longitude
    -74.20462
    Latitude
    40.83345

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    FAQs

    What type of property is this?
    Day care center - Versatile 1,475 sq ft space ideal for various uses.
    Where is this day care center located?
    The property is located at 289 Park Street Montclair, NJ.
    What is the lease rate?
    The lease rate is $2,200 /Mo.
    What are key features of this property?
    This property features: Versatile 1,475 sq ft ground floor space suitable for various uses.; Ideal for non‑profit organizations due to existing tax‑exempt status.; All utilities included in the $2,200/month rent.
    (973) 509-2222
    We can help!
    Listing Contact
    CRYSTAL JAMES
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    289 Park Street, Montclair Twp., NJ 07043-2210
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