275-277 Forest Ave - Medical FOR SALE


Paramus, NJ 07652
$16,100,000 USD
908-770-7111
275-277 Forest Ave, Paramus, NJ for Sale
$16,100,000 USD
Medical - FOR SALE
1/10
null | 6.89% Cap Rate

275-277 Forest Ave
Paramus, NJ 07652


HIGHLIGHTS

  • 275-277 Forest Avenue is a 45,900-square-foot multi-tenant medical office building with a drive-thru end cap.
  • At the lighted corner intersection of Forest Avenue and Spring Valley Road, a great location in a high-traffic area.
  • Cash-flowing investment of seven medical office tenants, TD Bank (end cap drive-thru), and a Verizon cell tower on the roof.
  • Route 4 and 17 corridors’ high concentration of retail/ office developments has some of the most successful retail locations in the state & nation.
  • In an affluent and stable realm with a 3-mile population of 137,591 residents and an average household income of about $145,000.
  • Prominent frontage along Forest Avenue provides built-in pylon and building signage exposure to more than 21,300 VPD.

OVERVIEW

Legacy Commercial Realty, LLC is pleased to present 275-277 Forest Avenue, Paramus NJ 07652 +/- 45,323 Two-Story Medical Office Building with TD Bank Drive Thru Location 100% Occupied Asking Price: $16,100,000.00 Current NOI: $1,109,992.53 CAP Rate: 6.89% 275-277 Forest Avenue is a +/- 45,323-square-foot multi-tenant medical office building with a drive-thru end cap. Cash-flowing investment of seven medical office tenants, TD Bank (end cap drive-thru), and a Verizon cell tower on the roof. In an affluent and stable realm with a 3-mile population of 137,591 residents and an average household income of about $145,000. At the lighted corner intersection of Forest Avenue and Spring Valley Road, a great location in a high-traffic area. Route 4 and 17 corridors’ high concentration of retail/ office developments has some of the most successful retail locations in the state & nation. Prominent frontage along Forest Avenue provides built-in pylon and building signage exposure to more than 21,300 VPD.

FOR SALE DETAILS

PRICE

$16,100,000 USD

PRICE/SF

$351 USD /SF

CAP RATE

6.89%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Med/Office Strip + Bank Drive-Thru End Cap

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront Retail/Office, Telecom Hotel/Data Hosting, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

3.18 AC

LAND SF

138,521 SF

ZONING

NB

APN/PARCEL ID

46-03815-0000-00013

ASK ABOUT THIS PROPERTY

Seth KatzLegacy Commercial Realty, LLCMore Info
908-770-7111

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Seth KatzLegacy Commercial Realty, LLCMore Info
908-770-7111

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.