Established Medical Clinic with
137 Prospect St Newark, NJ 07105
137 Prospect St, Newark, NJ, 07105
$1,900,000
For Sale
$1,900,000
Medical clinic with expansion potential and buildable lot.
Property Size4,000 SF
Lot Size0.10 Acres
Price / SF$475
Days on Market171
Property Features for 137 Prospect St
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.10 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 9999
Listing Agency
EXIT REALTY LUCKY ASSOCIATES
(973) 817-7700
Listed by
PATRICK DWYER
Source
Corcoran
Added: Jan 30 Checked: Jul 19 at 4:46 am
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 EXIT REALTY LUCKY ASSOCIATES
Investment Insights
Based on property information with market context.
The property at 137 Prospect Street features an established walk-in urgent medical clinic that has been in operation for over 35 years. The first floor comprises approximately 2000 square feet and includes 4 exam rooms, a kitchen area, a private office, a reception area, and a waiting room. Additional space is available on the second floor and in the lower level. The second floor contains two apartments, with the potential for further expansion. The building also has a finished basement and central HVAC. Adjacent to the clinic is 139 Prospect, a vacant lot measuring 30x100. This lot is currently used for parking and garage space but is buildable under the MX-1 zoning regulations. The property is located blocks from Newark Penn Station.
Key Highlights
- Established medical clinic location for over 35 years.
- MX‑1 zoned buildable vacant lot (30x100) included, currently used for parking/garage.
- First floor medical practice featuring 4 exam rooms, kitchen, office, reception, and waiting room (approx. 2000 sq.ft.).
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.4k | $33.60 |
| − Vacancy | −$13.4k | −$3.36 |
| EGI | $121.0k | $30.24 |
| − OpEx | −$48.4k | −$12.10 |
| NOI | $72.6k | $18.14 |
4,000 SF · lease $33.60/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.04M
$907.2K – $1.21M
NOI $72,576 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,147 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Joseph Mosquera, M.D.
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Medical center - Medical clinic with expansion potential and buildable lot.
Where is this medical center located?
The property is located at 137 Prospect St Newark, 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: Established medical clinic location for over 35 years.; MX‑1 zoned buildable vacant lot (30x100) included, currently used for parking/garage.; First floor medical practice featuring 4 exam rooms, kitchen, office, reception, and waiting room (approx. 2000 sq.ft.).
