February 25, 2022 – Rob DiFranco and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of 148 Valley Road in Montclair, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $7,180,000.
148 Valley Road is a 9,071 square foot mixed-use building in Montclair, New Jersey. 148 Valley Road consists of three (3) retail tenants and three (3), 2-bedroom/2-bathroom residential units. The Property benefits from good visibility and signage along Valley Road and has ample on-site parking on a 0.85-acre parcel. The Property benefits from long-term leases with three local tenants. Quick Check has been at this location for 16 years (since 2005) and has 4 years remaining on their net lease. Elite Nails has 8+ years remaining on their 10-year net lease, and Montclair Bikery has 8+ years remaining on their 10-year net lease All three of the tenants have two (2), 5-year renewal options. Additionally, all of the commercial leases feature attractive rent increases in the primary lease terms and option periods. All three of the residential units offer large, spacious 2-Bedroom/2-Bathroom layouts and are individually metered for heat, hot-water, and electricity. The Property is set along Valley Road, a primary commercial roadway that runs through the center of Montclair. The Property is strategically located 1-mile from the Walnut Street Train Station with service to Manhattan’s Penn Station, and is within 3-miles of two colleges (Montclair State University and Caldwell University) and five area schools (three high schools and two elementary schools). Montclair is a small bedroom suburb of New York City, located in the heart of Essex County within the New York metropolitan area. The borough, along with Edison, is a regional commercial hub for central New Jersey. The affluent and densely populated area is 11-miles west of New York City.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.