Auto Shop with
For Sale
$850,000
69 Greenwood Ave #1, Montclair, NJ 07042
R2-zoned property with commercial use supported by a variance.
Property Size4,300 SF
Price / SF$197.67
Days on Market109
Property Features for 69 Greenwood Ave #1
General Information
Standard status
Active
Size
4,300 SF
Property subtype
Commercial
Zoning
R2
Site & Location
Corner Location
Yes
Road Access
Yes
Amenities
single-bay garage
office space
restroom
Building Details
Building Size
4,300 SF
Year Built
1932
Buildings
1
Stories
1
Units
1
Listing Agency:
Stanton Company
(973) 746-1313
Listed By:
Nancy Simonic
(973) 746-1313
Source:
Betterhomerealestate
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 11:33AM
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 Stanton Company
Investment Insights
Based on property information with market context.
This 4,300-square-foot automotive property includes a single-bay garage, dedicated office space, and a restroom. The building dates to 1932 and is currently used for a used-car business. Commercial use is associated with the R2 zoning through a variance.
Positioned at the intersection of Claremont and Greenwood avenues in Montclair, the property offers direct access from two avenues and sits near downtown businesses. Its setting at the end of a tree-lined residential street provides a transition between nearby residential surroundings and commercial activity. The address is 69 Greenwood Ave #1, Montclair Township, New Jersey 07042.
Positioned at the intersection of Claremont and Greenwood avenues in Montclair, the property offers direct access from two avenues and sits near downtown businesses. Its setting at the end of a tree-lined residential street provides a transition between nearby residential surroundings and commercial activity. The address is 69 Greenwood Ave #1, Montclair Township, New Jersey 07042.
Key Highlights
- 4,300 sq. ft. automotive property
- Single‑bay garage with office space and restroom
- R2 zoning with commercial use through a variance
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
$61,375
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
7.22%
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%
$1,227,500
$1.2M
Cap Rate 7%
$876,786
$876.8K
Cap Rate 9%
$681,944
$681.9K
Market Conditions
NOI Build-Up for 4,300 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
$92.9K $21.60/SF
− Vacancy
−$5.2K −$1.21/SF
EGI
$87.7K $20.39/SF
− OpEx
−$26.3K −$6.12/SF
NOI
$61.4K $14.27/SF
Area
Essex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,227,500
Cap Rate 7%
$876,786
Cap Rate 9%
$681,944
Alternative Uses
Best Use
Retail
$876.8K
$767.2K – $1.02M
NOI $61,375 @ 7.0% cap · market cap 7.22%
Second Best
Industrial
$703.9K
$615.9K – $821.2K
NOI $49,273 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.12M
$982.5K – $1.31M
NOI $78,597 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,141
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Beauty & Spa 24%
Dining 4%
TD Bank
Shops & Services
8,336 visits/mo
0.3 miles
Pigtails & Crewcuts
Beauty & Spa
5,570 visits/mo
0.2 miles
Shell
Shops & Services
5,447 visits/mo
0.4 miles
Firestone Complete Auto Care
Shops & Services
1,555 visits/mo
0.3 miles
Conoco
Shops & Services
1,451 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Clairmont Auto Body Inc — 2 Bloomfield Ave, Montclair, NJ 07042
- Glen Ridge Windshield Replacement Team — 989 bloomfield ave, montclair, nj 07042
- Bridgestone — 232 Bloomfield Ave, Montclair, NJ 07042
- Unlock Car Door Service Montclair — 204 Bloomfield Ave, Montclair, NJ 07042
- Firestone Complete Auto Care — 232 Bloomfield Ave, Montclair, NJ 07042
Frequently Asked Questions
What type of property is this?
Auto shop - R2-zoned property with commercial use supported by a variance.
Where is this auto shop located?
The property is located at 69 Greenwood Ave #1 Montclair, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,300 sq. ft. automotive property; Single‑bay garage with office space and restroom; R2 zoning with commercial use through a variance
