Healthcare Facility in East
For Sale
$995,000
Pending
146 S Munn Ave, East Orange, NJ 07018
Licensed residential healthcare facility with redevelopment potential in Essex County.
Property Size5,476 SF
Lot Size0.44 Acres
Days on Market180
Property Features for 146 S Munn Ave
General Information
Standard status
Pending
Size
5,476 SF
Lot size
0.44 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$34,685
Amenities
Asphalt Shingle Roof
Blacktop Driveway
Corner
Driveway-Exclusive
Off-Street Parking
Open Lot
Radiators - Hot Water Heating
Building Details
Year Built
1912
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed By:
CHERYL DARMANIN · License #111786,NEWJERSEY
Source:
Corcoran
Added: Mar 3
Changed: Aug 8
Last Checked: Jul 23 at 9:36AM
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 KELLER WILLIAMS - NJ METRO GROUP
Investment Insights
Based on property information with market context.
This licensed residential healthcare facility is located in the R-4 Multifamily District of East Orange. The 5,476 square foot building is situated on approximately 0.41 acres. It is currently licensed for 33 to 34 residents and houses 23 occupants under annual agreements. The property includes a commercial kitchen, dining area, administrative office space, community bathrooms, an exterior fire escape, and on-site parking. The structure has a long-standing operational history with established occupancy. Zoned for multifamily use, it presents potential adaptive reuse or redevelopment opportunities, subject to municipal approvals and due diligence. The property is conveniently located in a densely populated Essex County neighborhood with access to public transportation and surrounding residential density. The intended use of the property is as a residential healthcare facility.
Key Highlights
- Licensed residential healthcare facility with established occupancy and operational history.
- Zoned for multifamily use, offering potential for adaptive reuse or redevelopment.
- Substantial 5,476 SF building on a 0.41‑acre lot.
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
$84,210
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
8.46%
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%
$1,684,200
$1.7M
Cap Rate 7%
$1,203,000
$1.2M
Cap Rate 9%
$935,667
$935.7K
Market Conditions
NOI Build-Up for 5,476 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
$164.3K $30.00/SF
− Vacancy
−$11.2K −$2.04/SF
EGI
$153.1K $27.96/SF
− OpEx
−$68.9K −$12.58/SF
NOI
$84.2K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,684,200
Cap Rate 7%
$1,203,000
Cap Rate 9%
$935,667
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,210 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,093 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07018, NJ
30,429
Population
13,107
Households
2.3
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
17,899
Density / Sq Mi
$59,039
Median Household Income
$39,630
Median Earnings
$1,410
Median Rent
$314,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Group Home Mastery — 511 S Orange Ave Suite 519, Newark, NJ 07103
- Sterling Manor Home — 146 S Munn Ave, East Orange, NJ 07018
- Happy Days Adult Health Care — 67 S Munn Ave, East Orange, NJ 07018
- Harrison Arms — 287 S Harrison St, East Orange, NJ 07018
- Chestnut Manor — 97 Chestnut St, East Orange, NJ 07018
Frequently Asked Questions
What type of property is this?
Assisted living facility - Licensed residential healthcare facility with redevelopment potential in Essex County.
Where is this assisted living facility located?
The property is located at 146 S Munn Ave East Orange, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Licensed residential healthcare facility with established occupancy and operational history.; Zoned for multifamily use, offering potential for adaptive reuse or redevelopment.; Substantial 5,476 SF building on a 0.41‑acre lot.
