651 Bloomfield AveMontclair, NJ 07042

Property Details for 651 Bloomfield Ave

Year built

1960

Construction

CONCRETE BLOCKS

Lot size

0.22 AC

Property size (Sq ft)

1,800 SF

Zone code

C1

Property type

Commercial real estate

APN

13 01403-0000-00013

APU

1301403000000013

Description

This exceptional commercial property, located at 651 Bloomfield Avenue in Montclair, New Jersey, presents a unique investment opportunity. The property is a 2,000 square foot gas station situated on a 0.22-acre lot in the thriving Essex County market. Currently, the entire 2,000 square feet of retail space is available for lease or sale, offering significant potential for a variety of businesses. The property's prime location on Bloomfield Avenue ensures high visibility and accessibility, attracting a substantial customer base. The multiple tenancy designation suggests flexibility in potential uses and lease arrangements. This presents a rare chance to acquire a well-positioned gas station in a desirable New Jersey community. The property's size and location make it ideal for an established business seeking expansion or a new venture looking for a strong foothold in a busy commercial area. The 07042 zip code is known for its robust local economy and high foot traffic. Serious inquiries are encouraged to explore the possibilities this property offers. All interested parties should conduct their own due diligence.

• CAP approach

  CAP return

  Valuation

  6%

  $337,273

  6.5%

  $311,329

  7%

  $289,091

• Comparable approach

  Method

  Valuation

  Relative Method

  $235,188

  Geo Method

  $235,188

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $612,935

  Retail / Commercial

  $314,310

  Mixed-Use / Specialty

  $313,189

  Hospitality / Lodging

  $229,777

  Office

  $311,329

  Institutional / Educational

  $325,591

  Residential Income

  $380,941

  Multifamily

  $456,880

  Automotive / Energy

  $279,078

  Parking / Income-Based Land

  $96,306.40

  Restaurant / Food Service

  $162,892

  Healthcare / Senior Housing

  $321,170

Location Insight

City

Montclair

County

Essex

State

New Jersey

Latitude

40.8173

Longitude

-74.2215

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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