Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    198 North Ave E Cranford, NJ 07016

    Sponsored
    For Sale
    $1,900,000

    COMMERCIAL - Cranford, NJ

    Property size:
    5,352 SF
    Lot size:
    0.56 Acres
    Days on Market:
    61
    Last Refresh:
    Jan 28 at 4:06 pm

    Property Features for 198 North Ave E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    03-00314-0000-00006
    Parking
    25
    Parking features
    Open, Parking Lot
    Fireplace
    1
    Basement
    Full, Walk-Out Access, Finished
    Size
    5,352 SF
    Lot size
    0.56 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1965
    Floors in Building
    2
    Flooring type
    Vinyl
    Building materials
    Brick

    We can help!

    Listing Contact
    Karyn C Wejnert

    Crossroads Realty Inc-Toms River (732) 920-5400

    Listing agent Karyn C Wejnert (732) 588-6444

    Listing date Nov 29, 2025

    MLS# 22535589

    Copyright © 2026 Monmouth Ocean Regional Realtors and Monmouth Ocean Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Property with Multiple Units

    This commercial property in Cranford, NJ, offers significant potential with three units. The first floor upper unit includes a reception/desk area and four exam rooms. The first floor rear unit features a reception/desk area, six exam rooms, two bathrooms, and a full shower room for handicapped accessibility. The rear side unit comprises a reception room/desk area, seven exam rooms, a bathroom, and a kitchen. The property offers ample parking and a large open lot next door. The interior has been renovated. The property size is 5352 square feet, situated on a 0.56-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Cranford Animal Hospital, Saul Zucker

    Location Insight

    • Map
    • Local Demand
    City
    Cranford
    County
    Union
    State
    New Jersey
    Longitude
    -74.298511
    Latitude
    40.656648

    Nearby Similar for Sale

    • $3,990,000
      4,050 SF

      Bank of America Ground Lease

      Bank branch with drive-thru in affluent Cranford Township.
      101 South Ave, Cranford, NJ 07016
      View Details
    • $2,750,000
      8,734 SF

      Downtown Cranford Strip For Sale

      Fully occupied 8,734 SF strip mall in downtown Cranford.
      8 Eastman St, Cranford, NJ 07016
      View Details
    • $1,575,000
      15,750 SF

      Mixed-Use Investment Property For Sale

      99% occupied mixed-use property with storage, warehouse, office, and residential.
      331-333 Centennial Ave, Cranford, NJ 07016
      View Details
    • Contact for pricing
      11,000 SF

      Cranford Office Building For Sale

      Office building with flexible space available in Cranford, NJ.
      216 North Ave E, Cranford, NJ 07016
      View Details
    • $785,000
      2,100 SF

      Prime Cranford Office Building

      Standalone building in Cranford's growing downtown business corridor.
      10 South Ave, Cranford, NJ 07016
      View Details
    • $975,000

      Victorian Two-Family Home

      Two-family Victorian with off-street parking and eat-in kitchens.
      20 Berkeley Pl, Cranford, NJ 07016
      View Details
    • $1,350,000
      0.04 Acres

      Cranford Mixed-Use Investment Opportunity

      Historic building, prime Cranford location. High rental potential.
      North Ave, Cranford, NJ 07016
      View Details

    FAQs

    What type of property is this?
    Medical office - Commercial property featuring multiple units and ample parking.
    Where is this medical office located?
    The property is located at 198 North Ave E Cranford, NJ.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - Three Units: Offers flexibility for various uses or rental income; - Ample Exam Rooms: A total of 17 exam rooms across the units, suitable for medical or professional offices; - Large Open Lot Next Door: Provides potential for expansion or additional parking
    (732) 588-6444
    Request Owner's contact information
    198 North Ave E Cranford, NJ 07016
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    198 North Ave E
    Cranford, NJ 07016
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    198 North Ave E Cranford, NJ 07016
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Karyn C Wejnert
    Real Estate License ID: 0897112
    (732) 588-6444
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.