For Sale
$960,000

744 Bloomfield Ave Verona, NJ 07044

Historic Charm, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
137
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

FAQs

What type of property is this?
Retail property - Historic Charm, High Occupancy
Where is the retail property located?
The property is located at 744 Bloomfield Ave Verona, NJ.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 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.
How can I contact the broker?
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744 Bloomfield Ave
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