Mixed-Use Property with Retail
For Sale
$899,900
220 BLOOMFIELD AVE Unit NA, Montclair, NJ 07042
Ground-floor commercial space is paired with two leased apartments and basement access.
Property Size3,572 SF
Price / SF$251.93
Days on Market161
Property Features for 220 BLOOMFIELD AVE Unit NA
General Information
Standard status
Active
Size
3,572 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$19,250
Amenities
Window Air Conditioning
3
Flat
Mix use
No Parking.
35X102 IRR, 35X102 IRR
Central Business District.
Building Details
Year Built
1945
Tenancy
Multi
Listing Agency:
WEICHERT RLTRS RDG
(917) 613-3211
Listed By:
JIE CHAN CHEN
(917) 613-3211
Source:
Xome
Added: Mar 23
Changed: Aug 30
Last Checked: Aug 30 at 1:46PM
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
Investment Insights
Based on property information with market context.
This 3,572 SF mixed-use property combines approximately 2,500 SF of first-floor retail space with a full basement, one bathroom, backyard access, and a dedicated loading area connected to the basement. The commercial space is occupied month-to-month, with the option for continued tenancy or vacant delivery. Basement storage adds functional flexibility for the retail component.
The second floor contains two one-bedroom, one-bath apartments leased through the end of February 2027. Located in downtown Montclair near shops, restaurants, and public transit, the property is designated within the Central Business District. Built in 1945, the building offers a combination of commercial and residential space within a single asset.
The second floor contains two one-bedroom, one-bath apartments leased through the end of February 2027. Located in downtown Montclair near shops, restaurants, and public transit, the property is designated within the Central Business District. Built in 1945, the building offers a combination of commercial and residential space within a single asset.
Key Highlights
- Approximately 2,500 SF of first‑floor retail space with a full basement
- Two one‑bedroom, one‑bath apartments leased through the end of February 2027
- Dedicated loading area with direct access to the basement
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
$54,930
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
6.10%
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%
$1,098,600
$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
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
$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 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%
$1,098,600
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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,710
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with two leased apartments and basement access.
Where is this mixed-use property located?
The property is located at 220 BLOOMFIELD AVE Unit NA 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 with a full basement; Two one‑bedroom, one‑bath apartments leased through the end of February 2027; Dedicated loading area with direct access to the basement
