Ramsey Office Centre | 500 N Franklin Tpke
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Ramsey Office Centre 500 N Franklin Tpke
136,481 SF 91% Leased Office Building Ramsey, NJ 07446 $25,000,000 ($183/SF) 8.38% Cap Rate
Investment Highlights
- 500 North Franklin is a pristine 136,481 RSF office building with a WALT of five years and occupancy at 95% by an array of strong tenants.
- Strategically positioned at the intersection of Hilltop Road and North Franklin Turnpike.
- Features a robust lineup of tenants, providing investors with a secure and stable cash flow.
- It is conveniently located near major national retailers such as Starbucks and Home Depot as well as several luxury car dealerships.
Executive Summary
Meridian Investment Sales is pleased to present the exclusive offering of 500 North Franklin Turnpike, a premier office building strategically located in Ramsey, NJ. The property is located in the charming town of Ramsey in Bergen County and is located at the intersection of North Franklin Turnpike and Hilltop Road. The location provides for substantial visibility and traffic and features excellent natural light and air.
The building is 136,481 rentable SF across three stories and is situated on approximately 8 acres, featuring exceptional ceiling heights of 13' and roughly 685 striped parking spots. The tenant roster includes a diverse mix of medical offices and business suites, with notable tenants such as Rockland Surgical 10,974 RSF and leased through June of 2035) and Bierman ABA, Inc (12,627 SF leased through May of 2034). The property boasts a WALT of approximately five years, providing a stable cash flow stream for the foreseeable future.
500 North Franklin Turnpike benefits from a location along the bustling Franklin Turnpike, surrounded by prominent national retailers including Aldi, Starbucks, Home Depot, and Walgreens, as well as luxury car dealerships such as Lexus and BMW. The surrounding area is characterized by strong demographics, with a median household income exceeding $160,000 and a population of over 170,000 within a five-mile radius. This property represents a compelling investment opportunity, combining long term tenant stability with a prime location in a high-income market.
The building is 136,481 rentable SF across three stories and is situated on approximately 8 acres, featuring exceptional ceiling heights of 13' and roughly 685 striped parking spots. The tenant roster includes a diverse mix of medical offices and business suites, with notable tenants such as Rockland Surgical 10,974 RSF and leased through June of 2035) and Bierman ABA, Inc (12,627 SF leased through May of 2034). The property boasts a WALT of approximately five years, providing a stable cash flow stream for the foreseeable future.
500 North Franklin Turnpike benefits from a location along the bustling Franklin Turnpike, surrounded by prominent national retailers including Aldi, Starbucks, Home Depot, and Walgreens, as well as luxury car dealerships such as Lexus and BMW. The surrounding area is characterized by strong demographics, with a median household income exceeding $160,000 and a population of over 170,000 within a five-mile radius. This property represents a compelling investment opportunity, combining long term tenant stability with a prime location in a high-income market.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
136,481 SF
Building Class
A
Year Built
1989
Price
$25,000,000
Price Per SF
$183
Cap Rate
8.38%
NOI
$2,094,946
Percent Leased
91%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
47,067 SF
Slab To Slab
13’
Building FAR
0.37
Lot Size
8.56 AC
Zoning
LO - Laboratory and Office Building District.
Parking
685 Spaces (4.85 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Courtyard
- Fitness Center
- Food Service
- Property Manager on Site
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
| Space | Size | Space Use | Condition | Available |
| 3rd Floor | 3,850 SF | Office | Partial Build-Out | Now |
| 3rd Floor | 3,265 SF | Office | Partial Build-Out | Now |
| 3rd Floor | 5,413 SF | Office | Partial Build-Out | Now |
3rd Floor
| Size |
| 3,850 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Floor
| Size |
| 3,265 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Floor
| Size |
| 5,413 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
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3rd Floor
| Size | 3,850 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
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3rd Floor
| Size | 3,265 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
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3rd Floor
| Size | 5,413 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
PROPERTY TAXES
| Parcel Number | 48-03702-0000-00001 | Improvements Assessment | $9,021,900 |
| Land Assessment | $5,708,300 | Total Assessment | $14,730,200 |
PROPERTY TAXES
Parcel Number
48-03702-0000-00001
Land Assessment
$5,708,300
Improvements Assessment
$9,021,900
Total Assessment
$14,730,200
Contacts
-
David Schechtman -
Abie Kassin -
Lipa Lieberman -
Ikey Betesh -
Meridian Capital Group, LLC
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Ramsey Office Centre | 500 N Franklin Tpke
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