Two-Level Medical Office
New
For Sale
$2,499,000
612 Mount Pleasant, West Orange, NJ 07052
Configured for veterinary or other medical operations, with exam, treatment, reception, and support areas already in place.
Property Size10,000 SF
Price / SF$249.90
Days on Market4
Property Features for 612 Mount Pleasant
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$50,071
Amenities
reception area
exam rooms
x-ray room
operating room
dog kennel
cat kennel
storage room
laundry room
staff lounge with kitchenette
in-building pharmacy
personal office with attached bathroom
multi-zone heating and cooling
whole building generator
outdoor pet relief areas
Central Air Heating
Gas Heating
Hot Air Heating
Building Details
Buildings
1
Building Size
10,000 SF
Tenancy
Single
Listing Agency:
RE/MAX 1ST ADVANTAGE
(732) 382-0200
Listed By:
ROBERT DEKANSKI · License #232901
Source:
Corcoran
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 6:14AM
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 RE/MAX 1ST ADVANTAGE
Investment Insights
Based on property information with market context.
This two-level medical office property is currently arranged for veterinary operations and includes approximately 8,000 square feet of finished space. The interior provides a reception area, multiple exam rooms, an x-ray room, operating room, separate dog and cat kennels, pharmacy, laundry, staff lounge with kitchenette, private office, and two bathrooms. An additional 2,000 square feet of lower-level dry storage offers high ceilings and substantial room for inventory or equipment.
The property occupies a large lot at 612 Mount Pleasant in West Orange, with access to bus service and major roads. On-site parking accommodates 13 or more vehicles, while exterior pet relief areas support the existing use. Multi-zone heating and cooling and a whole-building Generac generator are also included.
The property occupies a large lot at 612 Mount Pleasant in West Orange, with access to bus service and major roads. On-site parking accommodates 13 or more vehicles, while exterior pet relief areas support the existing use. Multi-zone heating and cooling and a whole-building Generac generator are also included.
Key Highlights
- Approximately 8,000 SF of finished medical office space across two levels
- Additional 2,000 SF of lower‑level dry storage with high ceilings
- Veterinary layout includes exam rooms, x‑ray and operating rooms, kennels, pharmacy, and reception
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
$153,000
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
6.12%
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%
$3,060,000
$3.1M
Cap Rate 7%
$2,185,714
$2.2M
Cap Rate 9%
$1,700,000
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$300.0K $30.00/SF
− Vacancy
−$96.0K −$9.60/SF
EGI
$204.0K $20.40/SF
− OpEx
−$51.0K −$5.10/SF
NOI
$153.0K $15.30/SF
Area
Essex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,060,000
Cap Rate 7%
$2,185,714
Cap Rate 9%
$1,700,000
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,000 @ 7.0% cap · market cap 6.12%
Second Best
Healthcare Medical
$2.13M
$1.86M – $2.48M
NOI $148,896 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07052, NJ
48,867
Population
18,300
Households
2.7
Avg Household Size
42
Median Age
53%
College-Educated
92%
High-School Grad
12.0 sq mi
ZIP Area
4,072
Density / Sq Mi
$131,456
Median Household Income
$63,458
Median Earnings
$1,791
Median Rent
$527,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Prospect Ridge Veterinary — 612 Mt Pleasant Ave, West Orange, NJ 07052
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for veterinary or other medical operations, with exam, treatment, reception, and support areas already in place.
Where is this medical office space located?
The property is located at 612 Mount Pleasant West Orange, NJ.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Approximately 8,000 SF of finished medical office space across two levels; Additional 2,000 SF of lower‑level dry storage with high ceilings; Veterinary layout includes exam rooms, x‑ray and operating rooms, kennels, pharmacy, and reception
