29 Park St - Medical FOR SALE


Montclair, NJ 07042
$3,500,000 USD
646-841-0637
29 Park St, Montclair, NJ for Sale
$3,500,000 USD
Medical - FOR SALE
1/2
null | 7.25% Cap Rate

29 Park St
Montclair, NJ 07042


HIGHLIGHTS

  • Unique Retail & Medical Zoning
  • Substantial Renovation & OR License
  • Flexible Sale Options
  • Superior Demographics
  • Excellent Location

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a medical office property located at 29 Park Street in Montclair, NJ (the “Property”). The Property is offered as an investor sale, owner-use sale or sale leaseback with a newly created long-term lease to New Jersey Plastic Surgery (the “Tenant”). The proposed lease terms will feature an absolute NNN structure, annual rent increases and extension options. New Jersey Plastic Surgery is a nationally renowned cosmetic and reconstructive surgery practice also extensively engaged in clinical research and development services. The Property is conveniently located a half-block from the bustling downtown district of Montclair and easily accessible by car, bus or train. Montclair is an affluent community with an average household income over $198,000 (1-mile radius). It is located in Essex County, less than 20 miles from New York City.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$522 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

R-1B

APN/PARCEL ID

13-02212-0000-00019

ASK ABOUT THIS PROPERTY

John RotunnoNorthmarqMore Info
646-841-0637

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John RotunnoNorthmarqMore Info
646-841-0637

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