121 Cedar Ln, Teaneck, NJ 07666

This commercial property at 121 Cedar Ln in Teaneck, NJ, presents a unique value-add opportunity, available for the first time in over two decades. Situated in a prime corner location, it offers immediate accessibility to Holy Name Medical Center, major highway routes, and public transportation. The building, constructed in 1970 and updated in 2018, spans 7,071 square feet across three stories, with a building class of B. Its strategic positioning on a corner lot sees approximately 15,000 vehicles per day, enhancing visibility and accessibility for businesses.

The property currently features a diverse and stable tenant roster, predominantly comprising mental health practitioners, which contributes to its long-term stability. This multi-tenant setup offers flexibility for investors seeking immediate income or owner-users looking to occupy a portion of the space while generating revenue from existing leases. The zoning designation of B2 in Teaneck permits a range of uses, including offices, financial institutions, business schools, medical and dental clinics, funeral homes, and municipal buildings, providing a broad spectrum of potential applications.

Further enhancing its appeal is the near-term upside potential. Many current tenants are operating under short-term leases with rents below market rates. This situation allows for strategic adjustments and potential rent increases, offering significant flexibility and financial upside for both investors aiming to optimize returns and owner-users seeking to control their occupancy costs. The property's proximity to Holy Name Medical Center is a notable advantage, placing it within walking distance of a major healthcare hub.

With a total of 12 parking spaces, equating to 1.7 spaces per 1,000 square feet of leased area, the property addresses the parking needs of its tenants and their clients. The building's multiple tenancy structure and its classification as an investment or owner-user property, specifically suited for medical sub-types, underscore its versatility. This offering represents a compelling prospect for those looking to acquire a well-located commercial asset with demonstrable potential for growth and adaptation in the Teaneck market.