580 Cedar Ln, Teaneck, NJ 07666
580 Cedar Ln, Teaneck, NJ 07666
$2,900,000
Request info
Basic Details
- Date added: Added 4 weeks ago
- Type: Commercial
- Category: For Sale
- Status: Open
Description
-
Description:
9,268 SF Office Building Teaneck, NJ 07666 $2,900,000 ($312.90/SF) 6.21% Cap Rate
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.
Show all description
Property Details
- Parking: 33 Spaces (3.56 Spaces per 1,000 SF Leased)
- Area: 9,268 sq ft
- Year built: 1962
- Sale Type: Investment NNN
- Cap Rate: 6.21%
- Building Size: 9,268 SF
- Building Class: C
- Typical Floor Size: 9,268 SF
- Property Subtype: Medical
- Tenancy: Single
- Building Height: 1 Story
- Building Far: 0.43
- Zoning: B-1 - B-1 zoning district is a Neighborhood Business District, intended for low-intensity commercial use
Highlights
-
- 8 years remaining in NNN Lease
- Heart of Teaneck Business Discrict
- NJ Retina/Prism Vision Group, is a subsidiary of McKesson and operates 96 clinics and 200 Physicians.
- Irreplaceable Northern NJ Property
- This medical office property has strong access and visibility on Cedar Lane
Property Taxes
- Parcel Number: 60-00203-0000-00005
- Land Assessment: $664,600
- Improvements Assessment: $2,406,300
- Total Assessment: $3,070,900
Agent
Jeffrey Hoffman
JPH Realty Advisors, LLC
Location
Need More Information About This Property?
Fill out the quick form, and we’ll connect you with a local expert who specializes in your area and property type.
-
Local Market Expertise
-
Personalized Guidance
-
Fast & Friendly Response