Mixed-Use Five-Unit with
For Sale
$1,999,999
381 BLOOMFIELD AVE Unit 381, Montclair, NJ 07042
Five-unit property combines a leased ground-floor restaurant with four apartments, offering stable income and flexible residential leasing.
Property Size5,500 SF
Price / SF$363.64
Days on Market121
Property Features for 381 BLOOMFIELD AVE Unit 381
General Information
Standard status
Active
Size
5,500 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
4
Building Details
Year Built
1902
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed By:
CHERYL DARMANIN · License #111786,NEWJERSEY
Source:
Xome
Added: Apr 7
Changed: Jul 10
Last Checked: Jul 16 at 6:25AM
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 - NJ METRO GROUP
Investment Insights
Based on property information with market context.
This mixed-use asset totals five units, with a ground-floor restaurant and four residential apartments. The residential mix includes two three-bedroom units and two one-bedroom units. The property is approximately 5,500 square feet in total and currently generates approximately $143,000 in gross income and approximately $85,000 in net operating income based on available information.
The property is located along Bloomfield Avenue, a primary retail corridor in Montclair, New Jersey, with nearby restaurants, shops, and neighborhood amenities. The restaurant tenant is in place with a lease through September 2028, and annual rent increases are noted. The tenant also contributes to utilities and certain operating expenses. Three of the four residential units are on a month-to-month basis, supporting leasing flexibility.
For an owner-operator or investor seeking a combined income stream, this configuration provides ongoing restaurant occupancy while keeping residential terms adaptable. The four-apartment structure offers diversified unit sizes, with two three-bedroom layouts and two one-bedroom layouts, which can be useful when matching leasing needs to different household types.
The property is located along Bloomfield Avenue, a primary retail corridor in Montclair, New Jersey, with nearby restaurants, shops, and neighborhood amenities. The restaurant tenant is in place with a lease through September 2028, and annual rent increases are noted. The tenant also contributes to utilities and certain operating expenses. Three of the four residential units are on a month-to-month basis, supporting leasing flexibility.
For an owner-operator or investor seeking a combined income stream, this configuration provides ongoing restaurant occupancy while keeping residential terms adaptable. The four-apartment structure offers diversified unit sizes, with two three-bedroom layouts and two one-bedroom layouts, which can be useful when matching leasing needs to different household types.
Key Highlights
- Five‑unit mixed‑use property with a ground‑floor restaurant and four residential apartments
- Approx. 5,500 SF total: two 3‑bedroom units and two 1‑bedroom units
- Approx. $143,000 gross income and approx. $85,000 net operating income reported
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.6k | $25.56 |
| − Vacancy | −$9.1k | −$1.65 |
| EGI | $131.5k | $23.91 |
| − OpEx | −$39.4k | −$7.17 |
| NOI | $92.0k | $16.74 |
5,500 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.15M – $1.53M
NOI $92,049 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,579 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,531 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,948
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?
Quadplex - Five-unit property combines a leased ground-floor restaurant with four apartments, offering stable income and flexible residential leasing.
Where is this quadplex located?
The property is located at 381 BLOOMFIELD AVE Unit 381 Montclair, NJ.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Five‑unit mixed‑use property with a ground‑floor restaurant and four residential apartments; Approx. 5,500 SF total: two 3‑bedroom units and two 1‑bedroom units; Approx. $143,000 gross income and approx. $85,000 net operating income reported
