Property details

New Jersey Value-Add Office Property, Northeast Region

Property Description

New Jersey Office Property

Value Add: Potential pad site next to Wawa; Below market rents with CPI bumps; additional acreage for more commercial space.

Value-Add:
1. Add a 2 acre pad site
2. Execute lease with Cellular tower provider for 12k per year.
3. Add additional commercial building
4. Below Market Rents: 8.20 NNN rent, Market is $12/sf NNN

Existing Primary 6 Tenant(s) Overview:
1. World-class pharmacy services
2. Dermatology
3. Community based services group who is provided funding through contracts with the county and state.
4. Non-profit private institution for elementary, middle school, and high school students with academic and behavioral challenges.
5. Behavioral Health
6. Learning Center - operates daycare center

Average Tenant Term 5.5 Years

Recently renovated and leased.

The sale comes with some extra land to build on and some of the rents are extremely below market.

There is also a solar proposal that would add another $30,000 to $60,000 per year in NOI.

This offering is is completely off-market.



Office Buildings For Sale



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Highlights

Status:
Available
Price:
$6,700,000
Cap Rate:
7.04%
Annual Rent:
$471,796
 

Property Information

Property Type:
Office
Industry Type:
Office
Units/Spaces:
6
Land Area:
20.58 acres
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.