Mixed-Use Building with
15 MIDLAND AVE Unit 15 Montclair, NJ 07042
15 MIDLAND AVE Unit 15, Montclair, NJ, 07042
$1,375,000
For Sale
$1,375,000
Three-story mixed-use building includes a ground-floor retail unit, apartments, and a buildable parking lot.
Property Size4,800 SF
Price / SF$286.46
Days on Market272
Property Features for 15 MIDLAND AVE Unit 15
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1900
Listing agency
CITYWEST REAL ESTATE
(201) 396-9682
Listed by
HOLLY HUNTER CHRISTOVAO
Source
Xome
Added: Oct 25, 2025 Updated: Jul 22 at 1:32PM Checked: Jul 22 at 1:32PM
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 CITYWEST REAL ESTATE
Investment Insights
Based on property information with market context.
This three-story mixed-use property features an occupied 1,700-square-foot retail unit with office space on the second floor. The second-floor apartment is a two-bedroom unit and the third-floor unit is a three-bedroom apartment, with both residential spaces delivered vacant.
The building includes an unfinished, dry basement and has fully upgraded electrical service with separate tenant metering. A buildable 25' x 75' parking lot is included, and the property abuts the municipal Maple Ave parking lot with access from Bloomfield Ave or Porter Place.
A survey, floor plans, and aerial video are included with the listing, and signed architectural drawings for a proposed building are available upon request.
The building includes an unfinished, dry basement and has fully upgraded electrical service with separate tenant metering. A buildable 25' x 75' parking lot is included, and the property abuts the municipal Maple Ave parking lot with access from Bloomfield Ave or Porter Place.
A survey, floor plans, and aerial video are included with the listing, and signed architectural drawings for a proposed building are available upon request.
Key Highlights
- 3‑story mixed‑use building with ground‑floor retail plus 2nd- and 3rd‑floor apartments
- 1,700 SF occupied retail unit with a 2nd‑floor office
- 2nd‑floor 2‑bedroom apartment and 3rd‑floor 3‑bedroom apartment, both delivered vacant
Local Financial Insights For Multifamily LT 5
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 | $122.7k | $25.56 |
| − Vacancy | −$7.9k | −$1.65 |
| EGI | $114.8k | $23.91 |
| − OpEx | −$34.4k | −$7.17 |
| NOI | $80.3k | $16.74 |
4,800 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,334 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$1.05M
$922.7K – $1.23M
NOI $73,814 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,736 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Pedal Montclair
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use building includes a ground-floor retail unit, apartments, and a buildable parking lot.
Where is this mixed-use property located?
The property is located at 15 MIDLAND AVE Unit 15 Montclair, NJ.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 3‑story mixed‑use building with ground‑floor retail plus 2nd- and 3rd‑floor apartments; 1,700 SF occupied retail unit with a 2nd‑floor office; 2nd‑floor 2‑bedroom apartment and 3rd‑floor 3‑bedroom apartment, both delivered vacant
