89 Valley Rd Montclair, NJ 07042

This exceptional investment opportunity presents a 10,000-square-foot, fully occupied medical office building in Montclair, New Jersey. The property, situated on a 0.38-acre lot, features three tenants under modified gross leases with built-in rent bumps, ensuring consistent income growth. The building, constructed in 1954 and extensively renovated in 2019, boasts a modern interior and a convenient layout. The 10,000 square feet of net rentable space is distributed across two stories, with 19 parking spaces available for tenants and patients. The property benefits from a prime location near the Central Business District and multiple train stations providing easy access to New York City. The strong demographics of Montclair, with a high median household income and a large population within a five-mile radius, contribute to the property's high occupancy rate of 100%, achieved as of December 1st, 2023. The building's current Net Operating Income (NOI) stands at $188,675, yielding an attractive 7.55% capitalization rate. The property is zoned R-2 with a variance, and an assumable SBA loan is available for qualified buyers, featuring a 5.56% interest rate, 22 years remaining, and a 25-year amortization schedule. This sale-leaseback opportunity offers a compelling combination of strong cash flow, stable tenancy, and significant upside potential in a desirable New Jersey market. The heating system was upgraded from oil to gas in 2020. This is a fee simple ownership.