Industrial Building with Business
For Sale
$5,500,000
83 Walnut St, Montclair, NJ 07042
Existing industrial building with zoning that accommodates general business and light industrial activity.
Property Size2,600 SF
Price / SF$211.54
Days on Market61
Property Features for 83 Walnut St
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Commercial Listing
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$130,000
Building Details
Year Built
1925
Stories
1
Units
1
Building Size
2,600 SF
Listed By:
Nicholas Real Estate
(973) 634-8853
Source:
Nicholasrealestate.idxbroker
Added: Aug 8
Changed: Sep 2
Last Checked: Oct 5 at 3:03PM
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 Nicholas Real Estate
Investment Insights
Based on property information with market context.
This industrial building contains 2600 Sq ft and dates to 1925. Its zoning supports general business and light industry, providing a commercial framework for a range of industrial-oriented operations.
The property is located at 83 Walnut St in Montclair Township, New Jersey. WalkScore is 92, while bikeScore is 49, indicating strong walk access and moderate bike accessibility.
The property is located at 83 Walnut St in Montclair Township, New Jersey. WalkScore is 92, while bikeScore is 49, indicating strong walk access and moderate bike accessibility.
Key Highlights
- 2600 Sq ft industrial building
- Zoned for general business and light industry
- Built in 1925
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$297,933
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,958,660
$6.0M
Cap Rate 7%
$4,256,186
$4.3M
Cap Rate 9%
$3,310,367
$3.3M
Market Conditions
NOI Build-Up for 26,000 SF
Gross rent
$458.6K $17.64/SF
− Vacancy
−$33.0K −$1.27/SF
EGI
$425.6K $16.37/SF
− OpEx
−$127.7K −$4.91/SF
NOI
$297.9K $11.46/SF
Area
Essex County, NJ
Vacancy
7.20%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,958,660
Cap Rate 7%
$4,256,186
Cap Rate 9%
$3,310,367
Alternative Uses
Best Use
Industrial
$4.26M
$3.72M – $4.97M
NOI $297,933 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.79M
$5.94M – $7.92M
NOI $475,238 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 07042, NJ
27,384
Population
11,682
Households
2.3
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
7,206
Density / Sq Mi
$127,083
Median Household Income
$75,856
Median Earnings
$2,017
Median Rent
$733,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Industrial property - Existing industrial building with zoning that accommodates general business and light industrial activity.
Where is this industrial property located?
The property is located at 83 Walnut St Montclair, NJ.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 2600 Sq ft industrial building; Zoned for general business and light industry; Built in 1925
