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299 Forest Ave 16,000 SF 95% Leased Office Building Paramus, NJ 07652 $3,200,000 ($200/SF) 6.10% Cap Rate
Investment Highlights
- ±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
Executive Summary
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.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Building Size
16,000 SF
Building Class
C
Year Built
1968
Price
$3,200,000
Price Per SF
$200
Cap Rate
6.10%
NOI
$195,200
Percent Leased
95%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
5,333 SF
Building FAR
0.37
Lot Size
0.98 AC
Zoning
NB, Paramus - Business
Amenities
- Air Conditioning
- Smoke Detector
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
450 SF lower level space with new carpet and paint. Windows provide good light. Ready for occupancy!
Former medical office. Center reception room surrounded by smaller treatment rooms. Will have new paint and carpet.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 450 SF | Office | Full Build-Out | 30 Days |
| 1st Floor | 800 SF | Office/Medical | - | Now |
1st Floor
| Size |
| 450 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Floor
| Size |
| 800 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size | 450 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | 30 Days |
450 SF lower level space with new carpet and paint. Windows provide good light. Ready for occupancy!
1st Floor
| Size | 800 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | Now |
Former medical office. Center reception room surrounded by smaller treatment rooms. Will have new paint and carpet.
1 1
Property Taxes
| Parcel Number | 46-03815-0000-00005 | Improvements Assessment | $2,559,500 |
| Land Assessment | $1,185,100 | Total Assessment | $3,744,600 |
Property Taxes
Parcel Number
46-03815-0000-00005
Land Assessment
$1,185,100
Improvements Assessment
$2,559,500
Total Assessment
$3,744,600
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299 Forest Ave
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