Log In/Sign Up
Your email has been sent.
Med/Office Strip + Bank Drive-Thru End Cap 275-277 Forest Ave 45,323 SF 100% Leased Office Building Paramus, NJ 07652 $16,100,000 ($355.23/SF) 6.89% Cap Rate
Investment Highlights
- 275-277 Forest Avenue is a 45,900-square-foot multi-tenant medical office building with a drive-thru end cap.
- Cash-flowing investment of seven medical office tenants, TD Bank (end cap drive-thru), and a Verizon cell tower on the roof.
- In an affluent and stable realm with a 3-mile population of 137,591 residents and an average household income of about $145,000.
- At the lighted corner intersection of Forest Avenue and Spring Valley Road, a great location in a high-traffic area.
- Route 4 and 17 corridors’ high concentration of retail/ office developments has some of the most successful retail locations in the state & nation.
- Prominent frontage along Forest Avenue provides built-in pylon and building signage exposure to more than 21,300 VPD.
Executive Summary
Legacy Commercial Realty, LLC is pleased to present 275-277 Forest Avenue, Paramus NJ 07652
+/- 45,323 Two-Story Medical Office Building with TD Bank Drive Thru Location
100% Occupied
Asking Price: $16,100,000.00
Current NOI: $1,109,992.53
CAP Rate: 6.89%
275-277 Forest Avenue is a +/- 45,323-square-foot multi-tenant medical office building with a drive-thru end cap. Cash-flowing investment of seven medical office tenants, TD Bank (end cap drive-thru), and a Verizon cell tower on the roof. In an affluent and stable realm with a 3-mile population of 137,591 residents and an average household income of about $145,000.
At the lighted corner intersection of Forest Avenue and Spring Valley Road, a great location in a high-traffic area. Route 4 and 17 corridors’ high concentration of retail/ office developments has some of the most successful retail locations in the state & nation. Prominent frontage along Forest Avenue provides built-in pylon and building signage exposure to more than 21,300 VPD.
+/- 45,323 Two-Story Medical Office Building with TD Bank Drive Thru Location
100% Occupied
Asking Price: $16,100,000.00
Current NOI: $1,109,992.53
CAP Rate: 6.89%
275-277 Forest Avenue is a +/- 45,323-square-foot multi-tenant medical office building with a drive-thru end cap. Cash-flowing investment of seven medical office tenants, TD Bank (end cap drive-thru), and a Verizon cell tower on the roof. In an affluent and stable realm with a 3-mile population of 137,591 residents and an average household income of about $145,000.
At the lighted corner intersection of Forest Avenue and Spring Valley Road, a great location in a high-traffic area. Route 4 and 17 corridors’ high concentration of retail/ office developments has some of the most successful retail locations in the state & nation. Prominent frontage along Forest Avenue provides built-in pylon and building signage exposure to more than 21,300 VPD.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
45,323 SF
Building Class
A
Year Built/Renovated
1965/2024
Price
$16,100,000
Price Per SF
$355.23
Cap Rate
6.89%
NOI
$1,109,993
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
22,662 SF
Building FAR
0.33
Lot Size
3.18 AC
Zoning
NB - Neighborhood Business
Parking
125 Spaces (2.76 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Banking
- Controlled Access
- Air Conditioning
Property Taxes
| Parcel Number | 46-03815-0000-00013 | Improvements Assessment | $11,250,400 |
| Land Assessment | $2,527,800 | Total Assessment | $13,778,200 |
Property Taxes
Parcel Number
46-03815-0000-00013
Land Assessment
$2,527,800
Improvements Assessment
$11,250,400
Total Assessment
$13,778,200
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Med/Office Strip + Bank Drive-Thru End Cap | 275-277 Forest Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.