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    121 Newark Ave Jersey City, NJ 07302

    Sponsored
    For Lease
    $36 SF/Yr

    Prime Medical Office Suites, Jersey City NJ

    Lot size:
    42,735 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional medical office building at 121 Newark Avenue in Jersey City, NJ (zip code 07302) offers a unique opportunity for medical professionals. The property consists of two five-story buildings totaling 42,735 square feet, with spaces available ranging from 1,000 to 6,000 contiguous square feet. Multiple tenancies are available. A significant capital improvement project was completed in 2018, and further enhancements were made in 2024, including a new façade, upgraded elevator mechanics, a renovated lobby, modernized common bathrooms, and a new entrance vestibule. The building boasts a strong co-tenancy, including established medical practices such as Spine & Sport Health Center, Heights Orthodontics, JC Oral Surgery, Vita Dental Arts, and Raj Mukerji State Legislative Offices. Its unparalleled location directly above the Grove Street PATH station and adjacent to Restaurant Row provides exceptional accessibility and convenience. Commuting to Manhattan is a breeze, with an 11-minute ride to the World Trade Center and an 18-minute commute to Midtown Manhattan (33rd Street & 6th Avenue). An additional 4,000 square foot full-floor space is also available at 175 Newark Avenue, featuring a private parking lot. This is a rare opportunity to establish or expand your practice in a thriving, well-connected, and beautifully renovated medical office building.

    Property Features for 121 Newark Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    42,735 SF
    Total Rate
    128205

    Building Details

    Year Renovated
    2018
    Buildings
    2
    Stories
    5

    Unit(s) available at that property

    Space
    Second Floor
    Size
    2,000 SF
    Rate per SF
    $36
    Space
    Third Floor
    Size
    6,000 SF
    Rate per SF
    $38

    HighLights

    • ADA‑compliant entrance on Newark Avenue.
    • Secondary entrance on Columbus Street.
    • ButterflyMX access system.
    Property Profile Location Intelligence

    Current Use by Public Records

    chi4life Holistic Medicine Practitioner Valyuk Viktoriya DDS Dentist Vita Dental Arts Dentist FCS Metro LLC Fire Alarm Supplier Peggy Kraft Counseling Counselor

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0431765
    Latitude
    40.7199929

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Suites, Jersey City NJ
    Where is this medical office located?
    The property is located at 121 Newark Ave Jersey City, NJ.
    What is the lease rate?
    The lease rate is $36-$38 SF/Yr.
    What are key features of this property?
    This property features: ADA-compliant entrance on Newark Avenue.; Secondary entrance on Columbus Street.; ButterflyMX access system.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    121 Newark Ave Jersey City, NJ 07302
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