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1515 Richmond Ave 4,300 SF Office Building Point Pleasant Beach, NJ 08742 $1,300,000 ($302.33/SF) 5.62% Cap Rate
Executive Summary
Great investment opportunity to own a single-tenant NNN property occupied by Hackensack Meridian Health w/ a AA credit rating. Hackensack has renewed their lease for 5 years as of 5/1/25, and has (1) additional 5-year option remaining.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
4,300 SF
Building Class
B
Year Built/Renovated
1966/2014
Price
$1,300,000
Price Per SF
$302.33
Cap Rate
5.62%
NOI
$73,100
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,300 SF
Building FAR
0.20
Lot Size
0.50 AC
Zoning
GC - See GC Zoning attached in Documents
Parking
18 Spaces (3.91 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Hackensack Meridian Health
- Health Care and Social Assistance
- 4,300 SF
- $17.00
- Triple Net
- Apr 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Hackensack Meridian Health | Health Care and Social Assistance | 4,300 SF | $17.00 | Triple Net | Apr 2030 |
1 1
Walk Score®
Very Walkable (79)
Property Taxes
| Parcel Number | 25-00133-0000-00055 | Improvements Assessment | $325,000 |
| Land Assessment | $425,000 | Total Assessment | $750,000 |
Property Taxes
Parcel Number
25-00133-0000-00055
Land Assessment
$425,000
Improvements Assessment
$325,000
Total Assessment
$750,000
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1515 Richmond Ave
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