440 Bloomfield AveMontclair, NJ 07042

Property Details for 440 Bloomfield Ave

Property size (Sq ft)

1,000 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional turnkey opportunity presents a thriving wine and spirits shop located at 440 Bloomfield Ave, Montclair, NJ 07042, in the heart of Montclair's vibrant business district. The 1,000 square foot storefront boasts impressive annual sales of $600,000, generating a substantial net operating income (NOI) of $150,000 and a compelling 20.69% cap rate. The current lease, commencing January 12, 2024, and expiring December 31, 2034, offers a flexible 11-year term with a monthly rent of $3,500. The asking price is $725,000, representing a significant value proposition for an established business with proven profitability. This is an owner/user investment opportunity, offering the chance to acquire a well-established business with a strong track record and significant growth potential. The business includes the license and inventory, making it a truly turnkey operation. Larger locations are also available in Montclair should the buyer wish to expand the business. This is a rare chance to acquire a profitable, established business in a prime location. The property's central location ensures high visibility and foot traffic, contributing to its consistent success. The flexible lease terms provide operational flexibility and long-term security.

Location Insight

City

Montclair

County

Essex

State

New Jersey

Latitude

40.8134

Longitude

-74.2171

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