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Property Address

237 Lorraine Ave, Montclair, NJ  07043

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Property Details

Status
Active
Type
Commercial
Units
2
Year Built
2018
Complex
Upper Montclair
Heating
Gas-Natural 4+ Units, Forced Hot Air
Cooling
4+ Units, Central Air
Basement
Full
Lot Size
32880SF
Acreage
0.75
Est. Taxes
$85,833
Assessment
$2,700,000
Current Use
Office/Retail
Zoning
NC
Parking
Driveway-Exclusive, Parking Lot-Exclusive
Levels
2
Utilities
All Underground
Days on Market
110 days
MLS#
3719244

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Your Loan Officer

Marc Laudicina

Marc Laudicina
NMLS Mortgage Loan Originator ID 5429
Cell - 203.526.7944

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Robert Reade
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$8,250,000

237 Lorraine Ave, Montclair, NJ, New Jersey 07043. 6.75% CAP! Constructed in 2018, this remarkable property is an investor's dream and features all of the requirements to make it a true Trophy Asset. Creative design, exceptional finishes & very strong tenancies, which include one of the top real estate brokerages in the state. Both the retail and offices spaces have multiple utility and HVAC zones, making subdivision, in the unlikely event of Tenant downsizing, an easy task. The underground 1200 Amp electric service will allow the property to sustain many different uses if ever needed as well. The property also offers a private lot with 60 parking spaces, as well as, the closest proximity to the train station and bus stops in town. This is a must-see for any investor on a 1031 Exchange! Winner of the 2019 Montclair HPC Bricks and Mortar Preservation Award.

 
 

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Listing courtesy of C-21 CHRISTEL REALTY