Historic Forest Hill (Newark) Mansion Offers Outstanding Professional Space

Lawyers, accountants, psychologists, physical therapists, architects…here is an opportunity to make a lifestyle move that combines a very special, 113-year-old home in the historic Forest Hill Section of Newark with a large, well-laid-out office space that has both interior and exterior access. Exterior pictures of house follow. Click the following link to see a detailed residential MLS listing of 176 Ballantine Parkway.

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If you are unfamiliar with Forest Hill, it was once the home of industrialists who ran the economic engine that was turn-of-the-century Newark. Replete with strikingly beautiful homes, today’s Forest Hill attracts buyers who want a Montclair-style neighborhood, combined with an urban sensibility, all at a much reduced cost. And, for the local professional, that combination gets even better, because 176 Ballantine Parkway rests on a corner with Mount Prospect Avenue, thereby permitting its professional use designation. Here is what that neighborhood looks like: the following six, mixed-use properties, are located in a two-block span…from Berkeley to Delevan…which includes 176 Ballantine, also known as 514 Mount Prospect.

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Once a doctor’s office, the space includes: a 23×11 conference room/waiting room; a 10×10 reception area; two, 10×10 offices; and a half-bath. From a financial point of view, the money saved on office rent elsewhere would likely pay the mortgage expense on the home based upon a list-price offer, 20% down payment and a 4%, 30-year note.

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This is a wonderful opportunity to own a piece of Forest Hill history and run a business in an established, professional neighborhood.  Contact Brian McCabe, Realtor, at 973-865-1863 for more information.

Categories: All Posts, Newark, Residential

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