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725 Bloomfield Ave 2,881 SF Retail Building Verona, NJ 07044 $1,901,460 ($660/SF) 5.50% Cap Rate
Investment Highlights
- Prime frontage on a major commercial thoroughfare with high traffic counts.
- Immediate access to neighboring Montclair and major transit routes, drawing a broad pool of regional and local tenants.
- Located in Verona, a wealthy suburban community that supports strong, stable retail demand.
- Significant potential for capital appreciation through immediate lease-up of vacant space or property repositioning.
Executive Summary
Strategically positioned along one of Essex County's primary commercial corridors, this asset benefits from strong pedestrian traffic and direct frontage on Bloomfield Avenue.
Verona's affluent suburban demographics and robust retail demand underpin stable occupancy fundamentals, with value-add potential through lease-up and repositioning.
Proximity to Montclair and major transit arteries further supports tenant diversification.
Verona's affluent suburban demographics and robust retail demand underpin stable occupancy fundamentals, with value-add potential through lease-up and repositioning.
Proximity to Montclair and major transit arteries further supports tenant diversification.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
2,881 SF
Building Class
B
Year Built
2006
Price
$1,901,460
Price Per SF
$660
Cap Rate
5.50%
NOI
$104,580
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.50 AC
Zoning
C2
Parking
25 Spaces (8.67 Spaces per 1,000 SF Leased)
Frontage
224’ on Bloomfield Ave
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20-01608-0000-00010 | Improvements Assessment | $301,600 |
| Land Assessment | $725,400 | Total Assessment | $1,027,000 |
Property Taxes
Parcel Number
20-01608-0000-00010
Land Assessment
$725,400
Improvements Assessment
$301,600
Total Assessment
$1,027,000
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725 Bloomfield Ave
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