Listing ID3778787
Price$2,499,000$999
StatusActive
SqFt
8,000
Acres
0.130
CountyEssex
SubdivisionWatchung Plaza
Year Built1919
Property TypeCommercial Listing
Property Sub TypeMixed Use
Listing Agent
June Raegner
Title:
Broker Associate
Email: info@StantonRealtors.com
Address:
49 North Mountain Avenue
City:
Montclair
State/Province:
NJ
Zipcode:
07042
Office Phone: 973-746-1313
Cell Phone: 9175368258
Rare opportunity to purchase beloved landmark Watchung Plaza Tudor mix-use building which has been family owned since 1971. Set in the heart of Montclair, Watchung Plaza is surrounded by a desirable residential neighborhood and features unique shops and restaurants with high volume foot traffic. A mid-town direct train station to Penn Station and lovely gazebo for DeCamp bus stop with service to Port Authority are nearby. The accessibility, charm and popularity of this area results in stable tenants and low vacancy for both residential and retail units. Municipal lot located behind building. Great retail tenants include Well-Founded Barbershop, Dot Reeder Boutique, Bob Fraser Locksmith, Yarnia, Oro Hair Salon and Raven Color Studio. Three 2BR apartments above. 3 dedicated parking spots.
Location
Business District, Corner, Residential Area
For Sale Or Lease
For Sale
Sale Includes
Building & Land
Expenses Include
Electricity, Gas/Oil, Insurance, Maintenance - Exterior, Taxes, Trash, Water/Sewer
Permitted Use
Retail/Residential
Number of Units
9
Construction
Brick/Block, Wood
Exterior Description
Brick/Block, Wood
Roof Description
Slate
Equipment Available
Sign - Building
Loading Information
None
Heating
4+ Units
Cooling
4+ Units
Sewer
Public Sewer
Water
Public Water
Utilities
Electric, Gas-Natural
Available SqFt
8000
Basement
Yes
Basement Description
Bilco-Style Door, Finished-Partially, Partial
Floors
Tile, Vinyl-Linoleum, Wood
Number of Lavatories
9
Approximate Lot Size
5520SF
Color of Building
BrickTudor
Construction Date/Year Built Description
Approximate
Easement
Unknown
Lot Description
Corner, Level Lot
Parking/Driveway Description
Assigned, Blacktop, Off-Street Parking, See Remarks
Primary Property Type
MixedUse
Block Identifier
3402
County Number
16
Lot Identifier
12
Subdivision
Watchung Plaza
Town Number
1613
Zoning
N-C
Assessment Building
1316300
Assessment Land
386400
Assessment Total
1702700
Capitalization Rate
6
Farm Assessment
No
Gross Operating Income
231694
Net Operating Income
150313
Ownership Type
Fee Simple
Possession
Flex/ASAP
Tax Amount
54128
Tax ID For Property
1613-03402-0000-00012-0000-
Tax Rate
3.231
Tax Rate Year
2021
Tax Year
2021
Total Operating Expense
81381
Utilities Paid By
Other
Building Number
127
DEP Status
Unknown
Fuel Type
GasNatur, OilAbIn
Number of 2 Bedroom Units
3
Number of Apartments
3
Number of Stories
2
Prior Use
Retail/Residential
Listing Courtesy of STANTON COMPANY
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Contact - Listing ID 3778787
Richard Stanton
49 North Mountain Avenue
Montclair, NJ 07042
Phone: 973-746-1313
Phone Alt: 917-536-8257
Fax: 973-746-2012
Broker Email: rstanton@stantonrealtors.com
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