Victorian Office Building Near
For Sale
$999,000
201 Claremont Ave, Montclair, NJ 07042
Renovated Victorian office with flexible space near Montclair amenities.
Property Size3,435 SF
Price / SF$290.83
Days on Market428
Property Features for 201 Claremont Ave
General Information
Standard status
Active
Size
3,435 SF
Taxes and HOA fees
Annual Taxes
$23,739
Building Details
Year Built
1875
Listing Agency:
COMPASS NEW JERSEY LLC
Listed By:
JOHN FRENZER
Source:
Corcoran
Added: Jul 2, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 renovated 1875 Victorian building features two full-floor office suites, each containing three large rooms with high ceilings and original details. Each suite includes a renovated powder room, kitchenette, and ample closet storage. The finished third floor is currently used as office storage. Additional storage rooms are located in the basement, which also features a full garage walk-out to a rear private parking lot with 8 spaces. The property offers flexibility and can be tailored to various needs. It is located across the street from a coffee shop, one block from Walnut Street lunch spots, and two blocks from downtown Montclair's dining and cocktail options. Golf and pickleball facilities are within five minutes. The property is also situated one block from the NJTransit train to NYC.
Key Highlights
- Prime location: close to coffee shops, restaurants, and downtown Montclair.
- Excellent Commuting: One block from NJTransit train to NYC.
- Fully renovated 1875 Victorian with two full‑floor office suites.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,556
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,051,120
$1.1M
Cap Rate 7%
$750,800
$750.8K
Cap Rate 9%
$583,956
$584.0K
Market Conditions
NOI Build-Up for 3,435 SF
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.
Gross rent
$103.1K $30.00/SF
− Vacancy
−$33.0K −$9.60/SF
EGI
$70.1K $20.40/SF
− OpEx
−$17.5K −$5.10/SF
NOI
$52.6K $15.30/SF
Area
Essex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,051,120
Cap Rate 7%
$750,800
Cap Rate 9%
$583,956
Alternative Uses
Best Use
Office B
$750.8K
$657.0K – $875.9K
NOI $52,556 @ 7.0% cap · market cap 5.26%
Second Best
Mixed Use
$677.2K
$592.5K – $790.1K
NOI $47,403 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$896.9K
$784.8K – $1.05M
NOI $62,786 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,413
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated Victorian office with flexible space near Montclair amenities.
Where is this office building located?
The property is located at 201 Claremont Ave Montclair, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Prime location: close to coffee shops, restaurants, and downtown Montclair.; Excellent Commuting: One block from NJTransit train to NYC.; Fully renovated 1875 Victorian with two full‑floor office suites.
