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580 Cedar Ln 9,268 SF Office Building Teaneck, NJ 07666 $2,900,000 ($312.90/SF) 6.21% Cap Rate

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Investment 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

Executive Summary

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.

Data Room Click Here to Access

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
9,268 SF
Building Class
C
Year Built
1962
Price
$2,900,000
Price Per SF
$312.90
Cap Rate
6.21%
NOI
$180,134
Tenancy
Single
Building Height
1 Story
Typical Floor Size
9,268 SF
Building FAR
0.43
Lot Size
0.50 AC
Zoning
B-1 - B-1 zoning district is a Neighborhood Business District, intended for low-intensity commercial use
Parking
33 Spaces (3.56 Spaces per 1,000 SF Leased)

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Health Care and Social Assistance
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000

NJRetina is a leader in advanced ophthalmology and vitreoretinal medicine, offering world-class care and the most advanced procedures in treating retinal diseases, conditions and disorders. As the premier retinal specialists in New Jersey and the tri-state region, NJRetina offers the most advanced surgical, injection and medical approaches for patients with all types of retinal problems, including age-related macular degeneration (AMD), retinal detachment, diabetic retinopathy, retinal vascular diseases, ocular tumors, and ocular trauma. Their physicians are all board-certified ophthalmologists and eye surgeons who have specialized in performing Vitrectomy, Laser Photocoagulation, Laser Retinopexy, intravitreal injections, scleral buckling surgery, and other retinal-related surgical procedures. Come see why NJRetina is the leader in retinal vision care throughout the region.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Health Care and Social Assistance 99,999 SF $9.99 Lorem Ipsum Jan 0000
Walk Score®
Walker's Paradise (90)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Property Taxes

Property Taxes

Parcel Number
60-00203-0000-00005
Land Assessment
$664,600
Improvements Assessment
$2,406,300
Total Assessment
$3,070,900
  • Listing ID: 29928527

  • Date on Market: 10/31/2023

  • Last Updated:

  • Address: 580 Cedar Ln, Teaneck, NJ 07666

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