Mixed-Use Building with Retail
For Sale
$899,900
220 Bloomfield Ave, Montclair, NJ 07042
Two leased apartments complement a flexible first-floor commercial space with basement access and loading functionality.
Property Size3,572 SF
Price / SF$251.93
Days on Market52
Property Features for 220 Bloomfield Ave
General Information
Standard status
Active
Size
3,572 SF
Building Details
Year Built
1945
Listing Agency:
WEICHERT RLTRS RDG
Listed By:
JIE CHAN CHEN
(917) 613-3211
Source:
Luminancerealty
Added: Sep 14
Changed: Oct 25
Last Checked: Oct 5 at 11:31PM
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 WEICHERT RLTRS RDG
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Investment Insights
Based on property information with market context.
This mixed-use building, constructed in 1945, combines a first-floor commercial component with two residential apartments. The retail area contains approximately 2,500 SF, a full basement, one bathroom, and access to the backyard. A dedicated loading area connects directly to the basement, supporting storage and receiving needs. The commercial space is currently occupied on a month-to-month arrangement and may remain leased or be delivered vacant, subject to the stated terms.
The second floor includes two one-bedroom, one-bath apartments, each leased through the end of February 2027. The property is located at 220 Bloomfield Ave in Montclair, near shops, restaurants, and public transit. The property information cites a cap rate of 7% or higher and identifies additional income potential from basement storage.
The second floor includes two one-bedroom, one-bath apartments, each leased through the end of February 2027. The property is located at 220 Bloomfield Ave in Montclair, near shops, restaurants, and public transit. The property information cites a cap rate of 7% or higher and identifies additional income potential from basement storage.
Key Highlights
- Approximately 2,500 SF of first‑floor retail space
- Full basement with direct access from a dedicated loading area
- Two one‑bedroom, one‑bath apartments leased through February 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,930
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,600
$1.1M
Cap Rate 7%
$784,714
$784.7K
Cap Rate 9%
$610,333
$610.3K
Market Conditions
NOI Build-Up for 3,572 SF
Gross rent
$107.2K $30.00/SF
− Vacancy
−$7.3K −$2.04/SF
EGI
$99.9K $27.96/SF
− OpEx
−$44.9K −$12.58/SF
NOI
$54.9K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,600
Cap Rate 7%
$784,714
Cap Rate 9%
$610,333
Alternative Uses
Best Use
Apartment 5plus
$784.7K
$686.6K – $915.5K
NOI $54,930 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$728.3K
$637.3K – $849.7K
NOI $50,984 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$932.7K
$816.1K – $1.09M
NOI $65,290 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,710
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 42%
Beauty & Spa 10%
Electronics 3%
Panera Bread
Dining
15,723 visits/mo
0.3 miles
Smashburger
Dining
8,925 visits/mo
0.4 miles
TD Bank
Shops & Services
8,336 visits/mo
0.1 miles
PNC Bank
Shops & Services
6,232 visits/mo
0.4 miles
Pigtails & Crewcuts
Beauty & Spa
5,570 visits/mo
0.5 miles
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
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two leased apartments complement a flexible first-floor commercial space with basement access and loading functionality.
Where is this mixed-use property located?
The property is located at 220 Bloomfield Ave Montclair, NJ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Approximately 2,500 SF of first‑floor retail space; Full basement with direct access from a dedicated loading area; Two one‑bedroom, one‑bath apartments leased through February 2027
