Medical Building Near Barnabas
For Sale
$815,000
Pending
767 Northfield Ave, West Orange, NJ 07052
Two-story medical building near Cooperman Barnabas Medical Center.
Property Size2,461 SF
Lot Size0.14 Acres
Days on Market260
Property Features for 767 Northfield Ave
General Information
Standard status
Pending
Size
2,461 SF
Lot size
0.14 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,365
Amenities
Central air
Asphalt Shingle Roof
Additional Parking
Baseboard - Hotwater Heating
Blacktop Driveway
Central Air Cooling
Parking Lot-Exclusive
Building Details
Year Built
1920
Listing Agency:
BHHS JORDAN BARIS REALTY
(973) 994-1234
Listed By:
BRUCE H MARCUS
Source:
Corcoran
Added: Dec 5, 2025
Changed: Aug 8
Last Checked: Jul 23 at 8:56AM
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 BHHS JORDAN BARIS REALTY
Investment Insights
Based on property information with market context.
Located approximately 3/4 mile from Cooperman Barnabas Medical Center, this two-story medical building offers thoughtfully designed professional space. The building features an efficient layout suitable for medical and healthcare practitioners. Abundant natural light fills the space through generous windows, creating a bright and calming atmosphere. Each floor is intelligently arranged to support a wide range of medical services or office configurations, offering flexibility to tailor the space. The property is positioned in a prominent, vibrant, and easily accessible location and includes ample parking for patients and staff. Its proximity to Cooperman Barnabas Medical Center enhances its appeal for practitioners seeking convenience and connectivity within the medical community. The building contains 2,461 square feet.
Key Highlights
- Close proximity (3/4 mile) to Cooperman Barnabas Medical Center.
- Thoughtfully designed, functional layout ideal for medical/healthcare practices.
- Flexible space adaptable to various medical services or office configurations.
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
$37,653
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
4.62%
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%
$753,060
$753.1K
Cap Rate 7%
$537,900
$537.9K
Cap Rate 9%
$418,367
$418.4K
Market Conditions
NOI Build-Up for 2,461 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
$73.8K $30.00/SF
− Vacancy
−$23.6K −$9.60/SF
EGI
$50.2K $20.40/SF
− OpEx
−$12.6K −$5.10/SF
NOI
$37.7K $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 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%
$753,060
Cap Rate 7%
$537,900
Cap Rate 9%
$418,367
Alternative Uses
Best Use
Office B
$537.9K
$470.7K – $627.6K
NOI $37,653 @ 7.0% cap · market cap 4.62%
Second Best
Healthcare Medical
$523.5K
$458.0K – $610.7K
NOI $36,643 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$642.6K
$562.3K – $749.7K
NOI $44,983 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story medical building near Cooperman Barnabas Medical Center.
Where is this medical office space located?
The property is located at 767 Northfield Ave West Orange, NJ.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Close proximity (3/4 mile) to Cooperman Barnabas Medical Center.; Thoughtfully designed, functional layout ideal for medical/healthcare practices.; Flexible space adaptable to various medical services or office configurations.
