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    Montclair Redevelopment Opportunity Title is generated by Realmo AI

    39 S Willow St, Montclair, NJ 07042

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    Spacious four-story building near downtown Montclair.

    Type:Hospitality, Mixed Use, Multifamily, Office, Special Purpose, Senior Living
    Added:
    Apr 11, 2026
    Days on Market:
    47
    Last Refresh:
    Apr 11 at 8:11 am

    Property Features for 39 S Willow St

    General Information

    Standard status
    Active
    Property subtype
    Hospitality, Mixed Use, Multifamily, Office, Special Purpose, Senior Living

    We can help!

    Listing Contact
    Marcos Claudius, CCIM
    Marcos Claudius, CCIM

    Listing agent Marcos Claudius, CCIM License #1645747

    Listing office KW Commercial

    Listing date Apr 11, 2026

    Source Crexi

    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 KW Commercial

    HighLights

    • Prime redevelopment opportunity in a premiere downtown location, suitable for ventures like AirB&B, boutique hotel, or multi‑family housing.
    • Existing Residential Health Care Facility with 16 registered residents and long‑term tenants, providing immediate income potential.
    • Centrally located 1/2 block from Montclair's downtown retail and business district, near the Wellmont Theatre, shopping, entertainment, and NYC transportation.
    • Spacious 4‑story building with 16 bedrooms and 12 baths, plus a 4th floor with additional bedrooms, living room, and bath, offering expansion possibilities.
    • Flexible zoning allows for continued operation as a care facility or conversion to single/multi‑family homes or garden apartments.
    • Top floor features partial New York City skyline views.

    Overview

    Located a half block from Montclair's downtown retail and business district, this four-story building presents various redevelopment opportunities. Currently operating as The Willows, a Residential Health Care Facility for independent retirees and mobile seniors with long-term tenants, the property is registered with the State of New Jersey for 16 residents. The building features 16 bedrooms and 12 baths occupied by tenants on three levels. The fourth floor, offering partial New York City skyline views, includes four additional bedrooms, a spacious living room, and a large full-size bath, presenting an opportunity for additional tenant occupancy. Potential business uses include continuing its operation as a residential health care facility, conversion to an Air B&B, a downtown boutique hotel, or a bed and breakfast. The property is near the Wellmont Theatre, shopping, entertainment, galleries, the new Montclair Redevelopment Project, and NYC transportation. It is being sold AS IS for continued operation as an existing business investment or varied conversion uses based on zoning code, including single or multi-family homes or garden apartments. Alternative housing can be secured for senior residents (who are all on Month-to-Month lease) and the real estate can then be redeveloped.
    Location Intelligence

    Current Use by Public Records

    The Willows Home Retirement Community

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Horizon Manor — 89 Christopher St, Upper Montclair, NJ 07042
    • Senior Care & Activities Center — 110 Greenwood Ave, Montclair, NJ 07042
    • Signature Medical Daycare of Montclair — 110 Greenwood Ave, Montclair, NJ 07042
    • Signature Health Cr-Mntclr — 110 Greenwood Ave, Montclair, NJ 07042
    • Globex Healthcare Services — 460 Bloomfield Ave Suite 1A, Montclair, NJ 07042

    Location Insight

    • Map
    • Local Demand
    City
    Montclair
    County
    Essex
    State
    New Jersey
    Longitude
    -74.215784
    Latitude
    40.8108821

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    FAQs

    What type of property is this?
    Senior housing / Retirement Home - Spacious four-story building near downtown Montclair.
    Where is this senior housing / retirement home located?
    The property is located at 39 S Willow St Montclair, NJ.
    What are key features of this property?
    This property features: Prime redevelopment opportunity in a premiere downtown location, suitable for ventures like AirB&B, boutique hotel, or multi‑family housing.; Existing Residential Health Care Facility with 16 registered residents and long‑term tenants, providing immediate income potential.; Centrally located 1/2 block from Montclair's downtown retail and business district, near the Wellmont Theatre, shopping, entertainment, and NYC transportation.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Marcos Claudius, CCIM
    Marcos Claudius, CCIM
    Real Estate License ID: 1645747
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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