Back to Search

Multifamily Residence in Prime Location

163 Park St Montclair, NJ 07042

163 Park St, Montclair, NJ, 07042

$1,600,000

For Sale

$1,600,000

Spacious multifamily property near Watchung Plaza and NYC train.

Property Size4,945 SF

Lot Size0.80 Acres

Price / SF$323.56

AddedSep 18, 2025

Days on Market302

Last RefreshJul 14 at 8:03 pm

Property Features for 163 Park St

General Information

Standard status: Active
Size: 4,945 SF
Lot size: 0.80 Acres
Property subtype: Commercial

Building Details

Year Built: 1887

Listing office COMPASS NEW JERSEY LLC

Listing date Sep 18, 2025

Source Corcoran

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 COMPASS NEW JERSEY LLC

Investment Insights

Based on property information with market context.

This multifamily residence, currently configured as a 5-unit investment property, is situated on a spacious, flat lot within a single-family zone. The property includes ample parking, featuring 4 garage spaces (one currently rented for $125 per month) and outdoor spots for each tenant. Located approximately 0.3 miles from Watchung Plaza shops, cafes, and the NYC direct train, it is also near the Walnut St Farmer's Market. The property offers the flexibility to remain a 5-family residence or be converted into a single, 2, 3, or 4-family home. Each unit has separate utilities, and paid laundry is available in the basement. The 4945 square foot property is surrounded by attractive homes, making the neighborhood suitable for a single-family conversion or new construction. Four units are currently rented on a month-to-month basis.

Key Highlights

Prime location: just 0.3 miles to Watchung Plaza shops, cafes, and NYC direct train.
Multifamily residence (5 units) offers income potential in a desirable single‑family zone.
Spacious, flat lot with ample parking including 4 garage spaces (one rented for $125/month) and additional outdoor spots.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$148.4k	$30.00
− Vacancy	−$10.1k	−$2.04
EGI	$138.3k	$27.96
− OpEx	−$62.2k	−$12.58
NOI	$76.0k	$15.38

4,945 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.09M

$950.6K – $1.27M (±1% cap)

NOI $76,044 @ 7.0% cap · market cap 4.75%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,387 @ 7.0% cap · market cap 5.65%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Similar For Sale Nearby

$850,000

600 SF

Montclair Commercial Property For Sale

4,300 sq. ft. commercial property with high visibility.

69 Greenwood Ave, Montclair Twp., NJ 07042

View Details
$1,599,000

6,981 SF

Montclair Religious Facility with Parking

Welcoming sanctuary with parking in a desirable Montclair location.

153 Park St, Montclair Twp., NJ 07042

View Details
$899,900

3,572 SF

Mixed-Use Property in Downtown Montclair

Mixed-use property with retail space and apartments in prime location.

220 Bloomfield Ave, Montclair Twp., NJ 07042

View Details
$1,999,999

5,500 SF

Mixed-Use Five-Unit with Restaurant

Five-unit property combines a leased ground-floor restaurant with four apartments, offering stable income and flexible residential leasing.

381 BLOOMFIELD AVE Unit 381, Montclair Twp., NJ 07042

View Details
$1,250,000

2,485 SF

Victorian Two-Family with Studios

Large parking capacity and insulated studio structures with separate utilities support flexible residential income uses.

69 N Fullerton Ave, Montclair Twp., NJ 07042-3830

View Details
$849,900

Two-Family Home with Detached Garage

Well-maintained two-family residence with recent HVAC and water-heater updates plus a detached two-car garage.

29 Warman St, Montclair Twp., NJ 07042-1651

View Details
$3,500,000

10,000 SF

Mixed-Use Property with Restaurant Lease

Mixed-use property featuring a restaurant and six apartments.

571 Bloomfield Ave, Montclair Twp., NJ 07042

View Details
$4,200,000

99 SF

Renovated Investment Portfolio Near Train

Renovated mixed-use investment property near Bay Street Train Station.

73 Glenridge Ave, Montclair Twp., NJ 07042

View Details
$550,000

1,420 SF

Montclair Church with Finished Basement

Church with finished basement near downtown Montclair shops and restaurants.

61 New St, Montclair Twp., NJ 07042

View Details
$200,000

2,439 SF

Montclair Child Learning Center Opportunity

Fully built-out learning center in Montclair's historic district.

213 Glenridge Avenue, Montclair, NJ 07042

View Details
$249,000

588 SF

Professional Office Condo Near Transit

First-floor commercial condo with hardwood floors and new HVAC.

41 Glenridge Ave, Montclair Twp., NJ 07042-4741

View Details
$4,800

850 SF

Retail and Office Space Suite

Approximately 850-square-foot commercial suite in the Montclair business district suited for retail or office use.

440 BLOOMFIELD AVE, Montclair Twp., NJ 07042

View Details

For sale
Apartment buildings
NJ
Montclair
07042
163 Park St

What type of property is this?

Apartment building - Spacious multifamily property near Watchung Plaza and NYC train.

Where is this apartment building located?

The property is located at 163 Park St Montclair, NJ.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Prime location: just 0.3 miles to Watchung Plaza shops, cafes, and NYC direct train.; Multifamily residence (5 units) offers income potential in a desirable single‑family zone.; Spacious, flat lot with ample parking including 4 garage spaces (one rented for $125/month) and additional outdoor spots.