Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    582 Franklin Ave Nutley, NJ 07110

    View on Map
    Claim this Listing
    New
    For Sale
    $1,195,000

    Commercial - Nutley Twp., NJ

    Property size:
    3,056 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $391/SF
    Added:
    Apr 30, 2026
    Days on Market:
    2
    Last Refresh:
    May 1 at 2:06 pm

    Property Features for 582 Franklin Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Rooms
    Basement
    Parking
    6
    Basement Y/N
    1
    Standard status
    Active
    Size
    3,056 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    28652

    Utilities

    Cooling system
    Central Air, Multi Units

    Building Details

    Year built
    1962
    Floors in Building
    2
    Number of units
    1
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    JANET LARRAIN

    Listing agent JANET LARRAIN

    Listing office REAL 165 PASSAIC AVE, Haddon Township, NJ

    Listing date Apr 30, 2026

    MLS# 4024564 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Medical Office Building For Sale

    Located on a high-visibility stretch of Nutley’s Franklin Avenue commercial corridor, this 3,056 square foot medical office building is available for sale. Currently operating as a rehabilitation facility, the multi-level layout is designed for clinical use, featuring a professional reception area, waiting room, large treatment spaces, private offices, and administrative areas. The property is positioned in a high-traffic, high-exposure location and includes rear parking for staff and clients. Situated near the ON3 campus, Hackensack Meridian School of Medicine, and major healthcare employers, the property is located in one of Essex County’s active medical corridors. Commuters benefit from proximity to NJ Transit (Delawanna & Passaic stations) and convenient access to New York City. This property is located in Nutley Twp., NJ, and sits on a 0.16-acre lot. The property is suitable for medical professionals, wellness practices, or professional office users looking to own in a thriving location. The property is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Options Physical Rehabilitation ... Rehabilitation Center Options Rehab Nutley Alternative Medicine Practice Dr. Diego Ruiz Alternative Medicine Practice Sharon Dela Cerna Physician Hee Cho Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Dog Cat & Bird Clinic of Nutley — 324 Passaic Ave, Nutley, NJ 07110

    Location Insight

    • Map
    • Local Demand
    City
    Nutley
    County
    Essex
    State
    New Jersey
    Longitude
    -74.15279
    Latitude
    40.82548

    Nearby Similar for Sale

    • $799,000
      2,256 SF

      Well-Maintained Two-Family Home in Nutley

      Two-family home in Nutley with modern amenities and convenient location.
      145 Harrison St, Nutley Twp., NJ 07110-3261
      View Details
    • $750,000

      Nutley Two-Family Home with Views

      Two-family home in Nutley with NYC skyline views.
      84 Saint Marys Place, Nutley, NJ 07110
      View Details
    • $699,000

      Nutley Twp. Multi-Family Property

      Two-family property with updated kitchen and bath, convenient location.
      151 Conover Ave, Nutley Twp., NJ 07110-3381
      View Details
    • $2,195,000
      7,000 SF

      Mixed-Use Building with Restaurant/Bar

      Mixed-use property with restaurant/bar and apartments in Nutley Twp.
      2 E Passaic Ave, Nutley Twp., NJ 07110-3049
      View Details
    • $1,199,000

      Modern Multi-Family Home in Nutley

      Built in 2017, modern design, convenient location, spacious units.
      38 Centre St, Nutley Twp., NJ 07110-3725
      View Details
    • $825,000

      Nutley Twp. Multi-Family Investment

      Three-family home in Nutley Twp. with income potential.
      Nutley Twp., NJ 07110-3730
      View Details
    • $179,900

      Nutley Twp. Office Condo

      Professional office condo with reception area, conference room, and entrances.
      640 Franklin Avenue, Nutley Twp., NJ 07110-1200
      View Details
    • $799,000

      Value-Add Multi-Family in Nutley

      Four units near train station with NYC access and upside.
      51 Saint Marys Pl, Nutley Twp., NJ 07110-3746
      View Details
    • $1,950,000
      5,600 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171-173 Franklin, Nutley, NJ 07110
      View Details
    • $1,359,000
      12,500 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171 Franklin Ave, Nutley Twp., NJ 07110
      View Details
    • $250,000

      Established Restaurant in Nutley Center

      Operating restaurant with equipment included, located in Nutley center.
      236 Franklin Ave, Nutley, NJ 07110
      View Details
    • Contact for pricing

      Mixed-Use Building with Retail Space

      Three-story brick building with apartments, retail, and on-site parking.
      140 East Centre Street, Nutley, NJ 07110
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 3,056 SF medical office building in Nutley Twp., NJ.
    Where is this medical office space located?
    The property is located at 582 Franklin Ave Nutley, NJ.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: High‑visibility location on Franklin Avenue in Nutley's commercial corridor.; Functional multi‑level layout designed for clinical use with reception, waiting room, treatment spaces, and offices.; Rear parking for staff and clients.
    (855) 450-0442
    We can help!
    Listing Contact
    JANET LARRAIN
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    582 Franklin Ave, Nutley Twp., NJ 07110-1253

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!