580 Cedar Ln - Medical FOR SALE


Teaneck, NJ 07666- Downtown Teaneck
$2,900,000 USD
610-505-3415
580 Cedar Ln, Teaneck, NJ for Sale
$2,900,000 USD
Medical - FOR SALE
1/3
null | 6.21% Cap Rate

580 Cedar Ln
Teaneck, NJ 07666
Downtown Teaneck


HIGHLIGHTS

  • 8 years remaining in NNN Lease
  • Irreplaceable Northern NJ Property
  • Heart of Teaneck Business Discrict
  • This medical office property has strong access and visibility on Cedar Lane
  • NJ Retina/Prism Vision Group, is a subsidiary of McKesson and operates 96 clinics and 200 Physicians.

OVERVIEW

JPH Realty Advisors, LLC is pleased to offer for sale the opportunity to acquire fee-simple interests in an irreplaceable Single Tenant Net Lease Medical Office Building located at 628 Cedar Lane (with 580 Cedar Lane as aux. parking) Teaneck, NJ (the “Property” or “Asset”). The Tenant has 8 years left on NNN leases with 2.5% rent bumps annual in the base term and options. The tenant is, Prism Vision Group, a subsidiary of McKesson with 96 clinics and 200 Physicians. Tenant has operated in the same building for over 40 years.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$313 USD /SF

CAP RATE

6.21%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

B-1

APN/PARCEL ID

60-00203-0000-00005

ASK ABOUT THIS PROPERTY

Jeffrey HoffmanJPH Realty Advisors, LLCMore Info
610-505-3415

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Jeffrey HoffmanJPH Realty Advisors, LLCMore Info
610-505-3415

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