261 James St - Medical CONDO FOR SALE
Morristown, NJ 07960 |
261 James St
Morristown, NJ 07960
HIGHLIGHTS
- Best-in-class Tenant: Squire Dental is a growing DSO with 28 offices across the country.
- 7.80 Year NN+ Investment: This deal offers a great opportunity for buyers looking to acquire a long-term passive asset.
- 3% Annual Rental Increases: The lease features 3% annual rental increases, providing investors with growing cash flow and a hedge against inflation.
- Ideal 1031 Exchange Property: With a passive structure and nearly 8 years of lease term, this is an ideal property for local or out of state investors
- Multiple Doctors: The office is staffed by three doctors, which is typically indicative of a higher-producing location.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Squire Dental
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
ADD'L SUBTYPES
Fast Food, Department Store
TOTAL BUILDING SIZE
44000
STORIES
3
BUILDING CLASS
B
YEAR BUILT
1986
SPRINKLERS
-
PARKING SPACES
247
LAND DETAILS
LAND ACRES
5 AC AC
LAND SF
217,800 SF
ZONING
-
APN/PARCEL ID
22-06705-0000-00001,22-06705-0000-00001-0000-C0015,22-06705-0000-00001-0000-C0032,22-06705-0000-00001-0000-C0251
