129 Grove St 6,000 SF 100% Leased Office Building Montclair, NJ 07042 $1,295,000 ($215.83/SF) 6.93% Cap Rate
INVESTMENT HIGHLIGHTS
- Central HVAC for each Tenant.
- Easy access to NYC train.
- 6..93 CAP
- Upscale Montclair Business District.
- Historically high occupancy.
EXECUTIVE SUMMARY
Well maintained office building with front and rear entrances. Located in vibrant business district, surrounded by shops and restaurants. Located adjacent to town lot for additional parking. Easy access to Walnut St train station for an easy commute to NYC. History of long-term tenants. Recent enhancements include updated entrance area, complete 2nd-floor renovation and a new roof.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
6,000 SF
Building Class
C
Year Built
1930
Price
$1,295,000
Price Per SF
$215.83
Cap Rate
6.93%
NOI
$89,744
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,000 SF
Slab To Slab
12’
Building FAR
1.38
Lot Size
0.10 AC
Zoning
N/Av, County
Parking
4 Spaces (0.67 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Metro/Subway
- Signage
- Kitchen
- Reception
- Drop Ceiling
1 of 4
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 13-04308-0000-00060 | Improvements Assessment | $767,800 |
| Land Assessment | $161,000 | Total Assessment | $928,800 |
