Medical Office with Surgical
For Sale
Contact for pricing
393 Mulberry St, Newark, NJ 07102
Newly built medical space includes surgical rooms, private offices, patient rooms, and lockers, with covered parking.
Property Size11,200 SF
Price / SF$526.79
Days on Market500
Property Features for 393 Mulberry St
General Information
Standard status
Active
Size
11,200 SF
Property subtype
OFFICE
Amenities
covered parking
Listing Agency:
NAI James E. Hanson | Teterboro
(201) 488-5800
Listed By:
Darren M. Lizzack, MSRE
(201) 478-7372
Source:
Moodyscre
Added: Apr 29, 2025
Changed: Sep 5
Last Checked: Sep 10 at 11:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI James E. Hanson | Teterboro
Investment Insights
Based on property information with market context.
This newly built-out medical office space is designed for clinical use and includes surgical rooms, private offices, patient rooms, and lockers. A procedure room is also available in connection with the offering.
The sale/lease includes a license for Class C and Class B, along with covered parking.
The existing improvements support a healthcare workflow, with dedicated exam and procedure areas plus administrative space for day-to-day operations.
The sale/lease includes a license for Class C and Class B, along with covered parking.
The existing improvements support a healthcare workflow, with dedicated exam and procedure areas plus administrative space for day-to-day operations.
Key Highlights
- Newly built medical space with surgical rooms, private offices, patient rooms, and lockers
- Includes a license for Class C and Class B, plus a procedure room, available with the sale/lease
- Covered parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$218,797
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,375,940
$4.4M
Cap Rate 7%
$3,125,671
$3.1M
Cap Rate 9%
$2,431,078
$2.4M
Market Conditions
NOI Build-Up for 11,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$380.4K $33.96/SF
− Vacancy
−$88.6K −$7.91/SF
EGI
$291.7K $26.05/SF
− OpEx
−$72.9K −$6.51/SF
NOI
$218.8K $19.54/SF
Area
Newark, NJ
Vacancy
23.30%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,375,940
Cap Rate 7%
$3,125,671
Cap Rate 9%
$2,431,078
Alternative Uses
Best Use
Office B
$3.13M
$2.73M – $3.65M
NOI $218,797 @ 7.0% cap · market cap 3.71%
Second Best
Healthcare Medical
$2.90M
$2.54M – $3.39M
NOI $203,213 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$3.97M
$3.47M – $4.63M
NOI $277,783 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,955
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07102, NJ
15,047
Population
6,574
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
82%
High-School Grad
1.1 sq mi
ZIP Area
13,679
Density / Sq Mi
$37,093
Median Household Income
$42,234
Median Earnings
$1,141
Median Rent
$293,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Newly built medical space includes surgical rooms, private offices, patient rooms, and lockers, with covered parking.
Where is this medical office space located?
The property is located at 393 Mulberry St Newark, NJ.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Newly built medical space with surgical rooms, private offices, patient rooms, and lockers; Includes a license for Class C and Class B, plus a procedure room, available with the sale/lease; Covered parking
