Medical Office with Three
For Sale
$1,790,000
Pending
198 North Avenue E, Cranford, NJ 07016
COMMERCIAL - Cranford, NJ
Property Size5,352 SF
Lot Size0.56 Acres
Days on Market243
Property Features for 198 North Avenue E
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Residential, Professional, Multi-Use, Mixed, Commercial
Rooms
Basement
Parking
25
Parking features
Parking Lot, Open
Fireplace
1
Basement
Full, Walk-Out Access, Finished
Lot features
Land Locked, Level, Subdividable, Wooded, Curbing, Multilot Sub, Possible Subdivision
Directions
GPS Downtown Cranford
Standard status
Pending
APN
03-00314-0000-00006
Size
5,352 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
28800
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
Listing Agency:
Crossroads Realty, Inc.
(732) 244-4900
Listed By:
Karyn C Wejnert · License #0897112
(732) 244-4900
Added: Nov 29, 2025
Changed: Jul 30
Last Checked: Jul 30 at 3:06PM
MLS# 22535589
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use medical office property offers three separate units totaling 5,352 square feet. The first-floor upper unit includes a reception/desk area and four exam rooms, along with a bathroom. The first-floor rear unit features a reception/desk, six exam rooms, two bathrooms, and a full shower room designed for handicapped accessibility. The rear-side unit includes a reception room/desk, seven exam rooms, a kitchen, and a bathroom, and the rear-side unit is leased.
The property sits on a 0.56-acre site measuring approximately 140 by 180 feet and provides parking for more than 25 cars. A large treed area is included on the lot.
Unit layouts are centered around clinical exam rooms and reception functions, with multiple restrooms distributed across the suites for day-to-day patient flow.
The property sits on a 0.56-acre site measuring approximately 140 by 180 feet and provides parking for more than 25 cars. A large treed area is included on the lot.
Unit layouts are centered around clinical exam rooms and reception functions, with multiple restrooms distributed across the suites for day-to-day patient flow.
Key Highlights
- Mixed‑use building on a 140 x 180 lot with 3 units and over 5,000 SF total
- Parking lot with parking for more than 25 cars
- First floor unit includes reception/desk plus 4 exam rooms and a first‑floor bath
Financial Insights For Office B
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 | $160.6k | $30.00 |
| − Vacancy | −$51.4k | −$9.60 |
| EGI | $109.2k | $20.40 |
| − OpEx | −$27.3k | −$5.10 |
| NOI | $81.9k | $15.30 |
5,352 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,886 @ 7.0% cap · market cap 4.57%
Second Best
Healthcare Medical
$1.14M
$996.1K – $1.33M
NOI $79,689 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,826 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07016, NJ
23,827
Population
9,619
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
4.7 sq mi
ZIP Area
5,070
Density / Sq Mi
$148,629
Median Household Income
$84,980
Median Earnings
$2,116
Median Rent
$635,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Three medical office units totaling 5,352 SF include multiple exam rooms, reception areas, and parking for 25+ vehicles.
Where is this medical office space located?
The property is located at 198 North Avenue E Cranford, NJ.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Mixed‑use building on a 140 x 180 lot with 3 units and over 5,000 SF total; Parking lot with parking for more than 25 cars; First floor unit includes reception/desk plus 4 exam rooms and a first‑floor bath
