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    163 Park St Montclair, NJ 07042

    Sponsored
    For Sale
    $1,600,000

    Prime Montclair location, 5-unit property, huge potential.

    Property size:
    4,945 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional Montclair property presents a unique investment opportunity with significant upside. Situated on a sizable 0.8-acre lot, this 4,945 square foot multifamily residence currently operates as a five-unit rental building. The property boasts ample parking, including four garage spaces (one currently rented for $125/month), with additional outdoor parking available for each tenant. All units are currently rented and feature separate utilities, with shared laundry facilities in the basement. The property's zoning allows for flexibility

    Property Features for 163 Park St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,945 SF
    Lot Size
    34,848 SF

    Building Details

    Year Built
    1887
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Montclair
    County
    Essex
    State
    New Jersey
    Longitude
    -74.20962
    Latitude
    40.82524

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Montclair location, 5-unit property, huge potential.
    Where is this commercial real estate located?
    The property is located at 163 Park St Montclair, NJ.
    What is the asking price?
    The asking price for this property is $1,600,000.
    (973) 310-7360
    Request Owner's contact information
    163 Park St Montclair, NJ 07042
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    Montclair, NJ 07042
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    Realmo Value Estimation

    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.

    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.

    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
    163 Park St Montclair, NJ 07042
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