611 River Dr - Office FOR SALE


Elmwood Park, NJ 07407
$17,300,000 USD
718-663-2639
611 River Dr, Elmwood Park, NJ for Sale
$17,300,000 USD
Office - FOR SALE
1/5
null | 7.9% Cap Rate

611 River Dr
Elmwood Park, NJ 07407


HIGHLIGHTS

  • Strong Tenancy Across Various Industries
  • First Sale in 27 Years
  • Superior Accessibility & Location
  • 5.8 Years Weighted Average Lease Term (WALT)

OVERVIEW

RARE OPPORTUNITY A well-maintained and fully-occupied office building in Bergen County, New Jersey with strong cash-flow, and 5.8 years weighted average lease term (WALT). STRONG ATTRIBUTES Key building features include: • A two-story atrium with granite and glass finishes • Two (2) passenger elevators • Ample amount of parking with 375 surface spaces • Lower level storage plus rooftop cellular phone towers providing additional income FIRST SALE IN 27 YEARS The building was constructed in 1999 and has been owned by the same owners since then. STRONG TENANCY The building has been fully occupied since 2022, featuring (7) seven tenants from various industries, including financial services, consulting, healthcare, and real estate, with Spencer Savings Bank as the anchor tenant. SUPERIOR ACCESSIBILITY & LOCATION The property is situated in an office park with a four-way traffic light, just off Exit 61 of Route 80, and minutes from Route 46 and the Garden State Parkway. It is also 12 miles from the George Washington Bridge and New York City.

FOR SALE DETAILS

PRICE

$17,300,000 USD

PRICE/SF

$180 USD /SF

CAP RATE

7.9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fully Leased Office Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

375

LAND DETAILS

LAND ACRES

3.95 AC

LAND SF

172,062 SF

ZONING

C-O

APN/PARCEL ID

11-01019-0000-00018-02

ASK ABOUT THIS PROPERTY

Stephen PreussRipco Real EstateMore Info
718-663-2639

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Stephen PreussRipco Real EstateMore Info
718-663-2639

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