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110 S Grove St 21,000 SF 100% Leased Office Building East Orange, NJ 07018 $4,799,000 ($228.52/SF) 8% Cap Rate
Investment Highlights
- In close proximity to local transit stop.
Executive Summary
Prime medical investment or owner occupied opportunity with this professional building, Fully occupied with three long time anchor tenants spanning 24,000 square feet situated on .67 acre of land offered at $4,799,000 with 8% CAP RATE IN RETURN ON INVESTMENT. The property is equipped with two elevators, loading docks and a generator , ensuring excellent logistic functionality for its anchor long time tenants which comprises of FRESENIUS DIALYSIS CENTER, STATE OF NEW JERSEY AND CITY OF EAST ORANGE. The property includes 64 parking spaces potential for generating more income on a month-to-month basis offering immediate cash flow potential. Explore the potential for growth and success in this prime medical / commercial space Conveniently located near Major Highways, RWJ, Cooperman Barnabas Medical Center, Clara Maass Medical Center, Newark Beth Israel Medical Center, Overlook Medical Center and many more. Don't miss this chance to invest in a high-growth, sought-after area with the Possibility to build an apartment complex.
Agent Remarks: Prime medical investment opportunity with this professional building, Fully occupied with long three time anchor tenants spanning 24000sq ft situated on .67 acre of land offered at $4,799,000. Don't miss this chance to invest in a high-growth area with the Possibility to build an apartment complex
Agent Remarks: Prime medical investment opportunity with this professional building, Fully occupied with long three time anchor tenants spanning 24000sq ft situated on .67 acre of land offered at $4,799,000. Don't miss this chance to invest in a high-growth area with the Possibility to build an apartment complex
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
21,000 SF
Building Class
B
Year Built/Renovated
1980/2021
Price
$4,799,000
Price Per SF
$228.52
Cap Rate
8%
NOI
$383,920
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,000 SF
Building FAR
0.72
Lot Size
0.67 AC
Opportunity Zone
Yes
Zoning
N/Av
Parking
64 Spaces (3.05 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Smoke Detector
1 1
Walk Score®
Very Walkable (73)
Property Taxes
| Parcel Number | 05-00020-0000-00019 | Improvements Assessment | $4,102,800 |
| Land Assessment | $457,000 | Total Assessment | $4,559,800 |
Property Taxes
Parcel Number
05-00020-0000-00019
Land Assessment
$457,000
Improvements Assessment
$4,102,800
Total Assessment
$4,559,800
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110 S Grove St
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