For Sale
$960,000

744 Bloomfield AveVerona, NJ 07044

Historic Charm, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use property in Verona, NJ, presents a compelling investment opportunity. Located at 744 Bloomfield Avenue, this two-story building boasts 3,968 square feet and offers a strong 6.94% cap rate with a current NOI of $66,584. The property is comprised of one building with three tenants enjoying 100% occupancy. The ground floor features a retail space, currently occupied by a frame shop, and potentially a second retail space, each with a half bath and separate gas and electric meters (shared water). Upstairs, two residential units provide additional income: a one-bedroom, one-bathroom apartment and a two-bedroom, one-bathroom apartment. Unit 744 has baseboard electric heat and partial exposure on two sides

Highlights

  • Exceptional mixed-use investment opportunity in Verona, NJ.
  • 744 Bloomfield Avenue, 3,968 square feet, 6.94% cap rate, $66,584 NOI.
  • 100% occupancy with three tenants: one retail, two residential units.
  • Ground floor features retail space (frame shop) with potential for a second retail space; each with half bath and separate utilities (shared water).
  • Upper floor has one 1-bedroom/1-bath and one 2-bedroom/1-bath apartment.

Property Details for 744 Bloomfield Ave

Property type
Retail properties, Mixed-use properties
Square Feet
3,968 SF
Buildings
1
Stories
2
Units
3

Location Insight

City
Verona
County
Essex
State
New Jersey
Latitude
40.8341884
Longitude
-74.2511358
744 Bloomfield Ave, Verona, New Jersey

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744 Bloomfield Ave
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