Two-Level Medical
New
For Sale
$2,499,000
612 Mount Pleasant Avenue, West Orange, NJ 07052
Configured with clinical rooms, support areas, and dedicated lower-level storage.
Property Size10,000 SF
Price / SF$312.38
Days on Market6
Property Features for 612 Mount Pleasant Avenue
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
13
Property subtype
Commercial
Additional Details
Public Transit
Yes
Office Units
1
Amenities
large front reception area
multiple exam rooms
x-ray room
operating room
dog kennel
cat kennel
large storage room
bonus storage closet
laundry room
staff lounge with kitchenette
in-building pharmacy
personal office with attached 1/2 bath and scrub sink/shower
additional bath
multi-zone heating and cooling
whole building Generac generator
outdoor pet relief areas
Building Details
Year Built
2015
Buildings
1
Stories
3
Building Size
10,000 SF
Tenancy
Single
Abandoned
No
Listing Agency:
RE/MAX 1st ADVANTAGE
Listed By:
ROBERT DEKANSKI
(833) 740-1234
Source:
Actionplusrealty
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 22 at 9:04AM
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.
Built in 2015, this 8,000-square-foot medical office property has two finished levels and an additional 2,000 square feet of dry storage with high ceilings on the lower level. The current veterinary-office configuration includes a reception area, exam rooms, imaging and operating rooms, separate dog and cat kennels, a pharmacy, laundry, staff lounge with kitchenette, private office, and multiple restroom facilities. An outdoor pet relief area and 13-plus on-site parking spaces support the existing operation.
The property is located at 612 Mount Pleasant Avenue in West Orange, with access to the bus line and major roads. Multi-zone heating and cooling serve the building, which also includes a whole-building Generac generator. The layout and existing improvements support continued veterinary use and medical or mixed-use occupancy as described in the property information.
The property is located at 612 Mount Pleasant Avenue in West Orange, with access to the bus line and major roads. Multi-zone heating and cooling serve the building, which also includes a whole-building Generac generator. The layout and existing improvements support continued veterinary use and medical or mixed-use occupancy as described in the property information.
Key Highlights
- 8,000 SF medical office building with two finished levels
- Additional 2,000 SF of lower‑level dry storage with high ceilings
- Veterinary‑office layout with exam rooms, imaging, operating, kennel, pharmacy, and support areas
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
$122,400
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
4.90%
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%
$2,448,000
$2.4M
Cap Rate 7%
$1,748,571
$1.7M
Cap Rate 9%
$1,360,000
$1.4M
Market Conditions
NOI Build-Up for 8,000 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
$240.0K $30.00/SF
− Vacancy
−$76.8K −$9.60/SF
EGI
$163.2K $20.40/SF
− OpEx
−$40.8K −$5.10/SF
NOI
$122.4K $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%
$2,448,000
Cap Rate 7%
$1,748,571
Cap Rate 9%
$1,360,000
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,400 @ 7.0% cap · market cap 4.90%
Second Best
Healthcare Medical
$1.70M
$1.49M – $1.99M
NOI $119,117 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 with clinical rooms, support areas, and dedicated lower-level storage.
Where is this medical office space located?
The property is located at 612 Mount Pleasant Avenue 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: 8,000 SF medical office building with two finished levels; Additional 2,000 SF of lower‑level dry storage with high ceilings; Veterinary‑office layout with exam rooms, imaging, operating, kennel, pharmacy, and support areas
