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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
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Med/Office Strip + Bank Drive-Thru End Cap | 275-277 Forest Ave
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