Multi-Level Medical Office
For Sale
$1,075,000
582 FRANKLIN AVE Unit NONE, Nutley, NJ 07110
Medical office built for clinical use, with treatment spaces, offices, and rear parking for staff and clients.
Property Size3,056 SF
Price / SF$351.77
Days on Market113
Property Features for 582 FRANKLIN AVE Unit NONE
General Information
Standard status
Active
Size
3,056 SF
Property subtype
Office
Additional Details
Business Included
Yes
Building Details
Year Built
1962
Listing Agency:
REAL
(855) 450-0442
Listed By:
JANET LARRAIN
Source:
Xome
Added: Apr 10
Changed: Jul 10
Last Checked: Jun 14 at 1:46AM
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 REAL
Investment Insights
Based on property information with market context.
582 Franklin Avenue is a multi-level medical office building totaling 3,056 SF and currently operating as a rehabilitation facility. The interior layout is designed for clinical and professional use, featuring a reception area and waiting room, large treatment spaces, private offices, and administrative areas. This configuration supports a range of health-related and service-based operations that require patient-facing space alongside dedicated work areas.
The property is positioned on a high-visibility, high-traffic stretch of Nutley’s Franklin Avenue commercial corridor, offering strong street presence. Rear parking is available for staff and clients, which can help streamline day-to-day access for medical appointments and visits. The building is also located near the ON3 campus, Hackensack Meridian School of Medicine, and major healthcare employers.
For medical professionals, wellness practices, or professional office users, the building’s clinical layout and multi-level design may align well with treatment and administrative needs. It also presents an owner-user or investment opportunity for buyers seeking a maintained, professional property on a healthcare-focused corridor. Showings are available by appointment only.
The property is positioned on a high-visibility, high-traffic stretch of Nutley’s Franklin Avenue commercial corridor, offering strong street presence. Rear parking is available for staff and clients, which can help streamline day-to-day access for medical appointments and visits. The building is also located near the ON3 campus, Hackensack Meridian School of Medicine, and major healthcare employers.
For medical professionals, wellness practices, or professional office users, the building’s clinical layout and multi-level design may align well with treatment and administrative needs. It also presents an owner-user or investment opportunity for buyers seeking a maintained, professional property on a healthcare-focused corridor. Showings are available by appointment only.
Key Highlights
- 3,056 SF medical office building built in 1962 on Franklin Avenue in Nutley, NJ
- Commercial zoning with level lot and handicapped access
- Multi‑level layout includes reception, waiting room, large treatment spaces, private offices, and administrative areas
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 | $80.7k | $26.40 |
| − Vacancy | −$4.8k | −$1.58 |
| EGI | $75.8k | $24.82 |
| − OpEx | −$30.3k | −$9.93 |
| NOI | $45.5k | $14.89 |
3,056 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$650.0K
$568.8K – $758.4K
NOI $45,503 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.0K
$698.2K – $931.0K
NOI $55,859 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 07110, NJ
30,149
Population
11,981
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
8,867
Density / Sq Mi
$115,215
Median Household Income
$67,621
Median Earnings
$1,698
Median Rent
$489,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Medical office built for clinical use, with treatment spaces, offices, and rear parking for staff and clients.
Where is this rehabilitation center located?
The property is located at 582 FRANKLIN AVE Unit NONE Nutley, NJ.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 3,056 SF medical office building built in 1962 on Franklin Avenue in Nutley, NJ; Commercial zoning with level lot and handicapped access; Multi‑level layout includes reception, waiting room, large treatment spaces, private offices, and administrative areas
