Professional Office Condo Near
41 Glenridge Ave Montclair, NJ 07042
41 Glenridge Ave, Montclair, NJ, 07042
$249,000
For Sale
$249,000
First-floor commercial condo with hardwood floors and new HVAC.
Property Size588 SF
Lot Size0.11 Acres
Price / SF$423.47
Days on Market133
Property Features for 41 Glenridge Ave
General Information
- Standard status
- Active
- Size
- 588 SF
- Lot size
- 0.11 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
REALTY ONE GROUP LIVING
(973) 943-0956
Listed by
MARIA WARNER
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 12:01PM Checked: Jul 21 at 5:33AM
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 REALTY ONE GROUP LIVING
Investment Insights
Based on property information with market context.
This first-floor commercial condominium unit offers approximately 588 square feet of professional or office space. The unit features hardwood flooring, a bathroom, and storage space. A new split heating and cooling unit has been installed. The property is located across from a train station and is in close proximity to Mountainside Hospital.
Key Highlights
- First floor commercial condo unit
- Approximately 588 sqft of professional/office space
- Across from train station
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.6k | $30.00 |
| − Vacancy | −$5.6k | −$9.60 |
| EGI | $12.0k | $20.40 |
| − OpEx | −$3.0k | −$5.10 |
| NOI | $9.0k | $15.30 |
588 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$128.5K
$112.5K – $149.9K
NOI $8,996 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$153.5K
$134.4K – $179.1K
NOI $10,748 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sew Montclair
High School
Montclair Nutrition
Restaurant
Beyond Boutique
Clothing & Fashion Store
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - First-floor commercial condo with hardwood floors and new HVAC.
Where is this office units located?
The property is located at 41 Glenridge Ave Montclair, NJ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: First floor commercial condo unit; Approximately 588 sqft of professional/office space; Across from train station
