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129 Grove St

6,000 SF 100% Leased Office Building Montclair, NJ 07042 £1,021,755 (£170/SF) 6.93% Net Initial Yield

Investment Highlights

  • Central HVAC for each Tenant.
  • Easy access to NYC train.
  • 6..93 CAP
  • Upscale Montclair Business District.
  • Historically high occupancy.

Executive Summary

Well maintained office building with front and rear entrances. Located in vibrant business district, surrounded by shops and restaurants. Located adjacent to town lot for additional parking. Easy access to Walnut St train station for an easy commute to NYC. History of long-term tenants. Recent enhancements include updated entrance area, complete 2nd-floor renovation and a new roof.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
6,000 SF
Building Class
C
Year Built
1930
Price
£1,021,755
Price Per SF
£170
Net Initial Yield
6.93%
NOI
£70,808
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
2,000 SF
Slab to Slab
12 ft
Building FAR
1.38
Land Acres
0.10 AC
Zoning
N/Av, County
Parking
4 Spaces

Amenities

  • Bus Route
  • Public Transport
  • Signage
  • Kitchen
  • Reception
  • Suspended Ceilings
Walk Score ®
Very Walkable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
13-04308-0000-00060
Land Assessment
£127,192
Improvements Assessment
£606,570
Total Assessment
£733,761
  • Listing ID: 25994064

  • Date on Market: 22/06/2022

  • Last Updated:

  • Address: 129 Grove St, Montclair, NJ 07042

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