Mixed-Use Building with
For Sale
$1,550,000
119 Watchung Ave, Montclair, NJ 07043
Retail space and three apartments create a combined commercial and residential property near Watchung Ave Train Station.
Property Size4,116 SF
Price / SF$376.58
Days on Market111
Property Features for 119 Watchung Ave
General Information
Standard status
Active
Size
4,116 SF
Property subtype
Business
Site & Location
Public Transit
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$33,191
Building Details
Building Size
4,116 SF
Year Built
1910
Buildings
1
Listing Agency:
eXp Realty
Listed By:
Links Residential NJ
Source:
Linksnj
Added: Jul 9
Changed: Oct 26
Last Checked: Oct 26 at 3:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
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Investment Insights
Based on property information with market context.
This 4,116-square-foot mixed-use building, constructed in 1910, includes approximately 2,500 square feet of retail space and three apartments. Mr. Dino’s Pizza occupies the retail space; the business is not included in the sale. Two apartments have one bedroom, a family room, an eat-in kitchen and a bathroom. The third is a two-bedroom boarding apartment with a kitchen that does not include a stove.
The property is in downtown Watchung Plaza, a short walk from Watchung Ave Train Station. The retail space and residential units are accessed separately, with the apartments reached from the rear of the building.
The property is in downtown Watchung Plaza, a short walk from Watchung Ave Train Station. The retail space and residential units are accessed separately, with the apartments reached from the rear of the building.
Key Highlights
- 4,116‑square‑foot mixed‑use building constructed in 1910
- Approximately 2,500 square feet of retail space occupied by Mr. Dino’s Pizza; the business is not for sale
- Three apartments: two one‑bedroom units and one two‑bedroom boarding apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,296
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,920
$1.3M
Cap Rate 7%
$904,229
$904.2K
Cap Rate 9%
$703,289
$703.3K
Market Conditions
NOI Build-Up for 4,116 SF
Gross rent
$123.5K $30.00/SF
− Vacancy
−$8.4K −$2.04/SF
EGI
$115.1K $27.96/SF
− OpEx
−$51.8K −$12.58/SF
NOI
$63.3K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,920
Cap Rate 7%
$904,229
Cap Rate 9%
$703,289
Alternative Uses
Best Use
Apartment 5plus
$904.2K
$791.2K – $1.05M
NOI $63,296 @ 7.0% cap · market cap 4.08%
Second Best
Retail
$839.3K
$734.4K – $979.2K
NOI $58,749 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.07M
$940.4K – $1.25M
NOI $75,234 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 07043, NJ
14,219
Population
4,499
Households
3.2
Avg Household Size
36
Median Age
84%
College-Educated
99%
High-School Grad
2.5 sq mi
ZIP Area
5,688
Density / Sq Mi
$250,001
Median Household Income
$102,273
Median Earnings
$2,287
Median Rent
$948,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space and three apartments create a combined commercial and residential property near Watchung Ave Train Station.
Where is this mixed-use property located?
The property is located at 119 Watchung Ave Montclair, NJ.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 4,116‑square‑foot mixed‑use building constructed in 1910; Approximately 2,500 square feet of retail space occupied by Mr. Dino’s Pizza; the business is not for sale; Three apartments: two one‑bedroom units and one two‑bedroom boarding apartment
