Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    275 Grove St Montclair, NJ 07042

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,000 /Mo

    Renovated 2-bedroom, 1-bath home near transit, shops, and restaurants.

    Lot size:
    0.17 Acres

    Property Features for 275 Grove St

    General Information

    Property type
    Multi Family
    Standard status
    Active
    Lot size
    0.17 Acres

    Building Details

    Year built
    1907

    We can help!

    Listing Contact
    Michelina Piroino
    Source: Elliman

    Listing Agent: Michelina Piroino

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Two-Bedroom Home For Rent

    This is a renovated home featuring two bedrooms and one bathroom. The property is located in a convenient area, close to transportation options, shops, and restaurants. Laundry facilities are available in the basement. The property includes one assigned parking space.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Montclair
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2002111
    Latitude
    40.8248609

    Nearby Similar for Lease

    • $4,500 /Mo
      1,260 SF

      Auto Service Repair Facility For Rent

      One-story masonry building with auto service repair and tow facility.
      15 Willard Pl, Montclair, NJ 07042
      View Details
    • $550 /Mo
      5,663 SF

      Montclair Office Space For Rent

      Office space in landmark building, Montclair. Utilities included.
      248 Lorraine Ave, Montclair, NJ 07043
      View Details
    • New
      $3,600 /Mo

      Restaurant Space in Montclair

      Restaurant space with updated kitchen available for immediate lease.
      71 Pine St, Montclair, NJ 07042
      View Details
    • $550 /Mo

      Montclair Office Space For Rent

      Office space in an elevator building with utilities included.
      248 Lorraine Ave, Montclair, NJ 07043
      View Details
    • $2,200 /Mo
      16,988 SF

      Move-in Ready Montclair Office Suite

      Bright, professional office space in downtown Montclair.
      26 Park St, Montclair, NJ 07042
      View Details
    • $2,650 /Mo
      16,988 SF

      Montclair Office Penthouse Suite

      Top-floor office suite in downtown Montclair with utilities included.
      26 Park St, Montclair, NJ 07042
      View Details
    • $2,100 /Mo

      Montclair Office Space For Rent

      Open office suite in historic Wellmont building, Montclair.
      408 Bloomfield Ave, Montclair, NJ 07042
      View Details
    • $2,300 /Mo

      Montclair Twp. Commercial Space

      Second floor commercial space in mixed-use building near Welmont Arts Plaza.
      398 Bloomfield Ave, Montclair, NJ 07042
      View Details
    • $550 /Mo

      Montclair Office Space For Rent

      Office suite in landmark building near transportation.
      248 Lorraine Ave, Montclair, NJ 07043
      View Details
    • Sponsored
      Contact for pricing

      Montclair

      Discover many ways to work your way in Downtown Bozeman
      28 Valley Rd, Montclair, NJ 07042
      View Details
    • $4,500 /Mo

      Montclair Auto Repair Shop For Rent

      Auto repair shop with drive-in doors and parking.
      15 Willard Pl, Montclair, NJ 07042
      View Details
    • $2,100 /Mo

      Creative Space in Historic Building

      Open, light-filled suite in downtown Montclair near NYC transport.
      408 Bloomfield Ave, Montclair, NJ 07042
      View Details

    FAQs

    What type of property is this?
    Duplex - Renovated 2-bedroom, 1-bath home near transit, shops, and restaurants.
    Where is this duplex located?
    The property is located at 275 Grove St Montclair, NJ.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: - Renovated 2-bedroom home; - Amazing location: close to transit, shops, and restaurants; - 1 parking space assigned
    (973) 595-9900
    Request Owner's contact information
    275 Grove St Montclair, NJ 07042
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    275 Grove St
    Montclair, NJ 07042
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    275 Grove St Montclair, NJ 07042
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michelina Piroino
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!