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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
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.
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- Miscellaneous
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)
Amenities
- 24 Hour Access
- Security System
- Signage
- Wheelchair Accessible
- Accent Lighting
- Storage Space
- Air Conditioning
- Smoke Detector
- Backup Power / Generators
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
NJ Retina specializes in ophthalmology and vitreoretinal medicine, focusing on treating retinal diseases. The company provides surgical, injection, and medical treatments for conditions such as macular degeneration and diabetic retinopathy. Established as a network of eye care specialists across New Jersey, the practice emphasizes personalized patient care. Services include advanced diagnostic procedures and various retinal surgeries. The company operates multiple locations throughout the state, making specialized retinal care accessible to many communities.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 60-00203-0000-00005 | Improvements Assessment | $2,406,300 |
| Land Assessment | $664,600 | Total Assessment | $3,070,900 |
Property Taxes
Parcel Number
60-00203-0000-00005
Land Assessment
$664,600
Improvements Assessment
$2,406,300
Total Assessment
$3,070,900
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Contact the Sale Advisor
580 Cedar Ln