Bloomfield Avenue Ground Floor
For Sale
$275,000
741 Bloomfield Ave, Verona, NJ 07044
Ground floor office suite with great visibility on Bloomfield Avenue.
Property Size700 SF
Price / SF$392.86
Days on Market188
Property Features for 741 Bloomfield Ave
General Information
Standard status
Active
Size
700 SF
Building Details
Year Built
1955
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
JILL K. BIGGS · License #0568727
(973) 495-6038
Source:
Goldstandardrealty
Added: Apr 22
Changed: Oct 25
Last Checked: Oct 24 at 7:17PM
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 COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
This ground floor office suite is located on Bloomfield Avenue, offering easy access and visibility. The space is suitable for medical professionals and currently includes two examination rooms, a storage room, a bathroom, and a waiting area. The flexible layout could also accommodate other professionals such as chiropractors, accountants, insurance brokers, attorneys, or psychologists. The location is ideal for clientele from Montclair, Cedar Grove, and West Orange.
Key Highlights
- Prime location on Bloomfield Avenue with high visibility
- Ground floor access for easy accessibility
- Configured as a medical office with examination rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,710
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,200
$214.2K
Cap Rate 7%
$153,000
$153.0K
Cap Rate 9%
$119,000
$119.0K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$21.0K $30.00/SF
− Vacancy
−$6.7K −$9.60/SF
EGI
$14.3K $20.40/SF
− OpEx
−$3.6K −$5.10/SF
NOI
$10.7K $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 Rate 5%
$214,200
Cap Rate 7%
$153,000
Cap Rate 9%
$119,000
Alternative Uses
Best Use
Office B
$153.0K
$133.9K – $178.5K
NOI $10,710 @ 7.0% cap · market cap 3.89%
Second Best
Healthcare Medical
$148.9K
$130.3K – $173.7K
NOI $10,423 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$182.8K
$159.9K – $213.3K
NOI $12,795 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07044, NJ
14,572
Population
5,997
Households
2.4
Avg Household Size
44
Median Age
68%
College-Educated
98%
High-School Grad
2.8 sq mi
ZIP Area
5,204
Density / Sq Mi
$159,044
Median Household Income
$85,852
Median Earnings
$2,125
Median Rent
$595,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground floor office suite with great visibility on Bloomfield Avenue.
Where is this medical office space located?
The property is located at 741 Bloomfield Ave Verona, NJ.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Prime location on Bloomfield Avenue with high visibility; Ground floor access for easy accessibility; Configured as a medical office with examination rooms
