216 Main StWest Orange, NJ 07052

Property Details for 216 Main St

Year built

1975

Construction

FRAME

Lot size

0.26 AC

Zone code

OB-1

Property type

Commercial real estate

APN

22 00114-0000-00114

APU

2200114000000114

Description

This exceptional 2,400-square-foot medical office space is ideally situated at 216 Main Street in West Orange, New Jersey, zip code 07052. The property boasts a single-tenant occupancy, offering a unique opportunity for a medical practice seeking a dedicated and spacious location. The entire 2,400 square feet is currently vacant, providing immediate occupancy for a new tenant. The building features a full usable basement, adding significant potential for storage or expansion. Ample parking is available with 15 spaces conveniently located for patients and staff. This property is located in Essex County, New Jersey, offering easy access to major transportation routes and a thriving community. The address is 216 Main Street, West Orange, NJ 07052. The property type is classified as an office building, specifically a medical office. This presents a rare chance to establish or relocate a medical practice in a desirable and well-equipped space. The building's single-tenant configuration ensures privacy and control over the entire premises. The combination of size, parking, and location makes this an attractive proposition for a variety of medical professionals. The property is ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $2,158,920

  6.5%

  $1,992,850

  7%

  $1,850,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,505,460

  Geo Method

  $1,505,460

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,923,470

  Retail / Commercial

  $2,011,930

  Mixed-Use / Specialty

  $2,004,760

  Hospitality / Lodging

  $1,470,830

  Office

  $1,992,850

  Institutional / Educational

  $2,084,140

  Residential Income

  $2,438,450

  Multifamily

  $2,924,540

  Automotive / Energy

  $1,786,410

  Parking / Income-Based Land

  $616,468

  Restaurant / Food Service

  $1,042,690

  Healthcare / Senior Housing

  $2,055,840

Location Insight

City

West Orange

County

Essex

State

New Jersey

Latitude

40.785

Longitude

-74.2336

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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