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Medical Office Space with Shared Parking

500 Mount Prospect Ave, Newark, NJ 07104

For Sale
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Configured with reception, visitor waiting, private rooms, and a kitchen for employees.

Property SizeContact for details
Days on Market117

Property Features for 500 Mount Prospect Ave

General Information

Standard status Active

Site & Location

Neighborhood North Broadway

Amenities

kitchen
shared storage

Building Details

Year Built 1940
Listing Agency: C-21 SEMIAO & ASSOCIATES
Listed By: MANAL AMER
Source: Goldstandardrealty
Added: Jul 21 Changed: Nov 2 Last Checked: Nov 12 at 2:36PM

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 C-21 SEMIAO & ASSOCIATES

Rey
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Investment Insights

Based on property information with market context.

This medical office space at 500 Mount Prospect Ave in Newark’s Forest Hills area includes a reception area, dedicated office, three additional rooms, and a visitor waiting area. The layout was previously used as a doctor’s office and includes a kitchen for employees.

The property was built in 1940 and provides shared parking at the rear of the building. Additional shared storage is available in the basement, while utilities are included. Its existing room arrangement offers a practical foundation for continued medical office use.

Key Highlights

  • Previously used as a doctor’s office
  • Reception area, dedicated office, and 3 additional rooms
  • Visitor waiting area included

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Current Use

Dr. Nabil Gerges ... Dental Office Elwood Medical Associates ... Physician Internet Medical Group: ... Physician Edward T Kalmar, ... Physician Dr. Robert J. ... Dental Office

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage (Bike/Boat/Book/etc) Store Law Firm Skin Care Clinic Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,213
Businesses Nearby
Under-served
Demand for This Use

Demographics for 07104, NJ

54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Average Price Trend$/SF for Medical Office Space in Essex County, NJ

$170 Jul
$172 Aug
$199 Sep
$269 Oct

Properties on Market for Medical Office Space in Essex County

Jul
Aug
Sep
Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019
15.4% 2020
17.6% 2021
19.1% 2022
20.2% 2023
20.9% 2024
19.9% 2025

Frequently Asked Questions

What type of property is this?
Medical Office Space - Configured with reception, visitor waiting, private rooms, and a kitchen for employees.
Where is this medical office space located?
The property is located at 500 Mount Prospect Ave Newark, NJ.
What are key features of this property?
This property features: Previously used as a doctor’s office; Reception area, dedicated office, and 3 additional rooms; Visitor waiting area included
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