Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Six-Unit Multifamily Property Title is generated by Realmo AI

    44 Gates Ave, Montclair, NJ 07042

    View on Map
    Claim this Listing
    New
    For Sale
    $1,990,000

    Six-unit residential income building with four garage bays and on-site laundry hook ups.

    Type:Commercial
    Added:
    Jun 1, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 4 at 1:42 am

    Property Features for 44 Gates Ave

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1907

    We can help!

    Listing Contact
    SIBEL OZ

    Listing agent SIBEL OZ

    Listing office PROMINENT PROPERTIES SIR

    Listing date Jun 1, 2026

    Source Corcoran

    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 PROMINENT PROPERTIES SIR

    HighLights

    • 6‑unit residential income building in Montclair’s redeveloped business district
    • Unit mix: two 2BR/2BA, two 2BR/1BA, and two 1BR/1BA
    • 4 garage bays and ample on‑site parking
    • Unfinished basement with laundry hook ups

    Overview

    This six-unit multifamily property features a mix of unit sizes and bath configurations. There are two units with 2 bedrooms and 2 full bathrooms, two units with 2 bedrooms and 1 full bathroom, and two units with 1 bedroom and 1 bathroom. The building also includes four garage bays, providing dedicated off-street parking capacity, plus an unfinished basement with laundry hook ups.

    Located on Gates Ave in Montclair Township, the property sits within the heart of the area’s newly redeveloped business district. The public remarks note proximity to NYC bus/train service, as well as nearby dining and shopping options.

    As a residential income asset, the property offers a straightforward unit mix across one- and two-bedroom layouts, supported by garage bays and ample parking for residents. For buyers seeking a compact multifamily with multiple unit configurations and basic shared-support infrastructure in place, this building presents a practical option in Montclair.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Montclair
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2163556
    Latitude
    40.8082947

    Nearby Similar for Sale

    • $1,999,999
      5,500 SF

      Mixed-Use Retail and Apartments

      Five-unit mixed-use property with a ground-floor restaurant and four apartments on a primary Montclair retail corridor.
      381 Bloomfield Ave, Montclair Twp., NJ 07042-3570
      View Details
    • $1,600,000
      4,116 SF

      Montclair Multifamily Investment Opportunity

      Multifamily property in Watchung Plaza, Montclair Twp., NJ.
      119 Watchung Ave, Montclair Twp., NJ 07043
      View Details
    • $1,995,000
      4,445 SF

      Renovated Montclair Multi-Family Property

      Fully renovated 4-family property near Montclair's vibrant downtown.
      82 Grove St, Montclair Twp., NJ 07042-3708
      View Details
    • $1,599,000
      6,981 SF

      Montclair Commercial Property For Sale

      Spacious Montclair property with sanctuary, offices, kitchen, and parking.
      153 Park St, Montclair Twp., NJ 07042
      View Details
    • $4,200,000
      99 SF

      Montclair Multifamily Investment Opportunity

      Renovated multifamily portfolio near Bay Street Train Station.
      73 Glenridge Ave, Montclair Twp., NJ 07042
      View Details
    • $995,000
      600 SF

      Montclair Commercial Property For Sale

      4,300 sq. ft. commercial property in Montclair Township, NJ.
      69 Greenwood Ave, Montclair Twp., NJ 07042
      View Details
    • $249,000
      4,904 SF

      Montclair Commercial Condo Near Train

      Commercial condo unit near train station, suitable for retail/office.
      41 Glenridge Ave, Montclair Twp., NJ 07042-4741
      View Details
    • $699,000

      Montclair Two-Family Home with Parking

      Two-family home in Montclair with parking and spacious yard.
      116 Forest St, Montclair Twp., NJ 07042-3817
      View Details
    • $249,000
      4,904 SF

      Montclair Office Condo Near Transit

      Professional office condo unit near train and hospital.
      41 Glenridge Ave, Montclair Twp., NJ 07042-4741
      View Details
    • $200,000
      2,439 SF

      Child Learning Center in Montclair

      Fully built-out child learning center in Montclair's historic district.
      213 Glenridge Ave, Montclair Twp., NJ 07042-3527
      View Details
    • $1,095,000

      Montclair Multi-Family Home

      Updated two-family home in walkable Montclair neighborhood.
      203 N Fullerton Ave, Montclair Twp., NJ 07042-3904
      View Details
    • $699,000

      Montclair Two-Family Home with Charm

      Spacious two-family home in Montclair, close to NYC transportation.
      32 Irving St, Montclair Twp., NJ 07042-4524
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit residential income building with four garage bays and on-site laundry hook ups.
    Where is this apartment building located?
    The property is located at 44 Gates Ave Montclair, NJ.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: 6‑unit residential income building in Montclair’s redeveloped business district; Unit mix: two 2BR/2BA, two 2BR/1BA, and two 1BR/1BA; 4 garage bays and ample on‑site parking
    (973) 783-6900
    We can help!
    Listing Contact
    SIBEL OZ
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    44 Gates Ave, Montclair Twp., NJ 07042
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!