Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    651 Bloomfield Ave Montclair, NJ 07042

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,400,000

    2,000 SF retail building on 0.22 AC lot.

    Property size:
    2,000 SF
    Lot size:
    0.23 Acres

    Property Features for 651 Bloomfield Ave

    General Information

    Size
    2,000 SF
    Lot size
    0.23 Acres

    We can help!

    Listing Contact
    Jason M. Crimmins
    Source: Moodyscre

    Listing Agent: Jason M. Crimmins

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Building in Montclair, NJ

    The property features a building with a total size of approximately 2,000 square feet, situated on a lot of about 0.22 acres. Designated for commercial land use, the property is located downtown, providing convenient access to various amenities such as banks, restaurants, salons, schools, an art museum, a hotel, and a grocery store. The property taxes are $24,501.62 (2024).
    Location Intelligence

    Current Use by Public Records

    Delta Gas Station Alk Auto Services ... Auto Repair Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Montclair
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2215188
    Latitude
    40.817174

    Nearby Similar for Sale

    • New
      $1,199,000

      Montclair Multifamily Investment Opportunity

      Multifamily property in Montclair near NYC trains and community center.
      116 Maple Ave, Montclair, NJ 07042
      View Details
    • $300,000
      1,000 SF

      Turnkey Floral & Gift Boutique

      Established floral and gift boutique in Montclair's shopping district.
      590 Valley Rd, Montclair, NJ 07043
      View Details
    • Contact for pricing
      0.24 Acres

      Renovated Retail Space in Montclair

      6,000 SF renovated retail space in downtown Montclair.
      5 S Willow St, Montclair, NJ 07042
      View Details
    • Contact for pricing
      0.24 Acres

      Montclair Commercial Space For Sale

      1,600 SF commercial space with exposed brick and natural light.
      348 Bloomfield Ave, Montclair, NJ 07042
      View Details
    • $166,500
      928 SF

      Turnkey Restaurant in Montclair, NJ

      Thriving Middle Eastern restaurant in high-traffic Montclair location for sale.
      146-148 Bloomfield Ave, Montclair, NJ 07042
      View Details
    • $769,000
      Pending

      Montclair Multi-Family Investment Opportunity

      Two-unit home in Montclair, offering investment potential and convenient living.
      9 Rosedale Ave, Montclair, NJ 07042
      View Details
    • $1,250,000

      Victorian Farmhouse with Studio Structures

      Multi-family property with development potential in Montclair Twp., NJ.
      69 N Fullerton Ave, Montclair, NJ 07042
      View Details
    • Contact for pricing

      Turnkey Beauty Academy in Montclair

      Fully accredited beauty academy for sale in high-demand Montclair location.
      24 Elm St, Montclair, NJ 07042
      View Details
    • $1,600,000

      Multifamily Residence in Prime Location

      Five-unit investment property near Watchung Plaza and NYC train.
      163 Park St, Montclair, NJ 07042
      View Details
    • $1,295,000

      Montclair Mixed-Use Investment Opportunity

      Mixed-use property near Bloomfield Avenue with income potential.
      26 Orange Rd, Montclair, NJ 07042
      View Details
    • $999,000
      3,435 SF

      Victorian Office Building Near Transit

      Renovated Victorian office with flexible space near Montclair amenities.
      201 Claremont Ave, Montclair, NJ 07042
      View Details
    • $569,000

      Updated Corner Unit in Montclair

      Modern 2-bedroom condo with NYC views and parking.
      5 Roosevelt Pl, Montclair, NJ 07042
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,000 SF retail building on 0.22 AC lot.
    Where is this retail space located?
    The property is located at 651 Bloomfield Ave Montclair, NJ.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: - Prime downtown location with access to banks, restaurants, salons, schools, art museum, hotel, and grocery.; - Substantial ±2,000 SF building size.; - Commercial land use designation.
    (973) 379-6644
    Request Owner's contact information
    651 Bloomfield Ave Montclair, NJ 07042
    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.
    651 Bloomfield Ave
    Montclair, NJ 07042
    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
    651 Bloomfield Ave Montclair, NJ 07042
    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

    We can help!
    Listing Contact
    Jason M. Crimmins
    (973) 379-6644
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.