120 State St, Hackensack, NJ 07601

This two-story, 5,380 square foot masonry office building at 120 State Street in Hackensack, New Jersey, presents a strategic opportunity for owner-users or investors. Situated on a 0.22-acre site, the property offers a highly visible corner location at State Street and Atlantic Street, benefiting from a traffic light. The building, constructed in 1986, is currently occupied by five professional tenants, including legal, dental, real estate, tax, and bookkeeping firms. The current configuration provides flexibility, with one 1,200 square foot office space on the first floor available for immediate occupancy, and the potential for expansion into an adjacent 1,200 square foot area, totaling 2,400 square feet of contiguous space.

The property is designed to support a productive work environment, featuring abundant natural light in its office spaces. Each suite is equipped with private bathrooms, and the building offers 24/7 access for tenants. Utility services are individually metered for each tenant, contributing to a streamlined operational structure. A significant advantage of this property is its parking availability, which includes 16 on-site spaces, supplemented by ample street parking and a nearby municipal garage. The current tenancy structure includes a full reimbursement from tenants for property taxes, common area maintenance (CAM), and insurance costs.

The location of 120 State Street is a key asset, offering excellent walkability to prominent local institutions such as the Bergen County Courthouse and Hackensack University Medical Center. Residents and professionals will also appreciate the close proximity to a variety of dining, retail, and cultural venues, including the Hackensack Performing Arts Center. The property is zoned N/A, located within a downtown Opportunity Zone and Rehabilitation Area, encouraging potential buyers to consult with the local zoning department for specific details. The building class is noted as C, with a cap rate of 5.40%.

This offering is ideal for owner-users, including attorneys, accountants, medical professionals, consultants, and other general office users seeking to establish ownership in a central Bergen County location. The building's consistent occupancy and projected Net Operating Income (NOI) growth suggest a stable income potential for the future. The property also features excellent outdoor signage opportunities on all sides of the building, enhancing visibility for any business. Interested parties are encouraged to contact Michael Brower at 201-906-9675 or mbrower44@gmail.com for rent schedules, financial information, and to arrange a property inspection. Please note that appointments are required for all property visits.