Two-Story Mixed-Use
For Sale
$1,095,000
2376 Mountain Ave, Scotch Plains, NJ 07076
Includes two three-bedroom apartments, basement storage, and attic space.
Property Size5,000 SF
Price / SF$219
Days on Market106
Property Features for 2376 Mountain Ave
General Information
Standard status
Active
Size
5,000 SF
Additional Details
Public Transit
Yes
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS REALTY
Listed By:
PETER CORBET THOMAS · License #1755278
(917) 287-2672
Source:
Goldstandardrealty
Added: Jul 2
Changed: Oct 14
Last Checked: Oct 7 at 3:33PM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
Located at 2376 Mountain Ave in Scotch Plains Twp., this two-story mixed-use property combines residential units with additional interior space. The building includes two 3 bed, 1 bath apartments, along with basement storage and attic space.
Separate private entrances at the front and rear support distinct access patterns, while the interior offers multiple rooms for flexible configuration. The property is identified as somewhat bikeable, car-dependent, and served by some transit, with a bikeScore of 34, walkScore of 29, and transitScore of 35.
Separate private entrances at the front and rear support distinct access patterns, while the interior offers multiple rooms for flexible configuration. The property is identified as somewhat bikeable, car-dependent, and served by some transit, with a bikeScore of 34, walkScore of 29, and transitScore of 35.
Key Highlights
- Two 3 bed, 1 bath apartments
- Two‑story mixed‑use building at 2376 Mountain Ave
- Basement storage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,681
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,620
$1.7M
Cap Rate 7%
$1,195,443
$1.2M
Cap Rate 9%
$929,789
$929.8K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$127.8K $25.56/SF
− Vacancy
−$8.3K −$1.65/SF
EGI
$119.5K $23.91/SF
− OpEx
−$35.9K −$7.17/SF
NOI
$83.7K $16.74/SF
Area
Union County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,620
Cap Rate 7%
$1,195,443
Cap Rate 9%
$929,789
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.39M
NOI $83,681 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$1.10M
$961.1K – $1.28M
NOI $76,890 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,392 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 07076, NJ
24,871
Population
9,037
Households
2.8
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
9.0 sq mi
ZIP Area
2,763
Density / Sq Mi
$173,564
Median Household Income
$86,300
Median Earnings
$1,816
Median Rent
$696,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes two three-bedroom apartments, basement storage, and attic space.
Where is this mixed-use property located?
The property is located at 2376 Mountain Ave Scotch Plains, NJ.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Two 3 bed, 1 bath apartments; Two‑story mixed‑use building at 2376 Mountain Ave; Basement storage included
