299 Forest Ave, Paramus, NJ 07652
299 Forest Ave, Paramus, NJ 07652Basic Details
- Date added: Added 2 months ago
- Type: Commercial
- Category: For Sale
- Status: Open
Description
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Description:
16,000 SF 95% Leased Office Building Paramus, NJ 07652 $3,200,000 ($200/SF) 6.10% Cap Rate
299 Forest Ave in Paramus, New Jersey is a cash-flow-positive, two-story office building offering approximately +/- 16,000 square feet of commercial space in a prime Bergen County location. Currently configured for approximately 18 tenants and supported by two existing cell tower leases, the property provides diversified income with value-add upside to increase rents. Positioned on a highly visible corridor with more than 15,000 vehicles passing daily, this asset benefits from strong exposure, consistent traffic, and long-term demand, making it an attractive opportunity for both investors and owner-occupants seeking stable returns in Paramus.
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Property Details
- Area: 16,000 sq ft
- Year built: 1968
- Sale Type: Investment or Owner User
- Cap Rate: 6.10%
- Building Size: 16,000 SF
- Building Class: C
- Typical Floor Size: 5,333 SF
- Tenancy: Multiple
- Percent Leased: 95%
- Building Height: 3 Stories
- Building Far: 0.37
- Zoning: NB, Paramus - Business
Highlights
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- ±16,000 SF multi-tenant office/medical building
- Strong value-add opportunity through lease-up, renewals, and modernization
- Prime Paramus location surrounded by dense residential and strong demographics
- Flexible suite layouts ideal for medical, dental, therapy, and professional users
- Redevelopment/repositioning potential (subject to zoning and municipal approvals)
- Excellent access to Route 17, Route 4, I-80, and Garden State Parkway
Property Taxes
- Parcel Number: 46-03815-0000-00005
- Land Assessment: $1,185,100
- Improvements Assessment: $2,559,500
- Total Assessment: $3,744,600
Agent
Patrick Varelas
RE/MAX SELECT
Chopper Russo
RE/MAX SELECT
Location
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