Teaneck Multi-Tenant Office/Medical
For Sale
$1,450,000
1178-1182 Teaneck Rd, Teaneck, NJ 07666
Versatile 7,534 SF office/medical building in Teaneck's West Englewood.
Property Size7,534 SF
Price / SF$192.46
Days on Market148
Property Features for 1178-1182 Teaneck Rd
General Information
Standard status
Active
Size
7,534 SF
Property subtype
Office
Amenities
3-story, 7,534 SF building with professional office layouts and private offices
±2,014 SF corner suite available for immediate occupancy or lease-up
Near Holy Name Medical Center, specialty clinics, and professional office clusters on Teaneck Rd
Short term leases allowing the next owner flexibility or the potential to owner occupy
14 on sight parking spaces with 5 additional storage garages
Building Details
Building Size
7,534 SF
Year Built
1950
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Stephen Crocitto · License #License(s): NJ: 2294113
(201) 742-6179
Source:
Marcusmillichap
Added: Apr 11
Changed: Sep 2
Last Checked: Sep 5 at 3:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - New Jersey
Investment Insights
Based on property information with market context.
The property at 1178-1182 Teaneck Road is a multi-tenant office and medical asset located in the West Englewood neighborhood of Teaneck. The 3-story building has a total area of 7,534 square feet and features a mix of professional office layouts with private offices and flexible open space. It is suitable for medical, professional services, or owner-occupiers. The property includes 14 on-site parking spaces, 5 storage garages, and a recently paved lot. The building is anchored by a diverse tenant base, including short-term and month-to-month leases. A corner suite of approximately 2,014 square feet is currently available for immediate occupancy. The property benefits from flexible zoning (B-R), which allows for office, medical, and potential residential uses. The property is located steps from Holy Name Medical Center and other major medical and professional services, providing strong visibility and accessibility along Teaneck Road. The surrounding area features a well-educated, diverse, and affluent population. The property is in proximity to Route 4 and dense residential neighborhoods, offering a compelling opportunity for investors, developers, and owner-users seeking a stable, income-producing property with upside potential.
Key Highlights
- Prime location in Teaneck's West Englewood, steps from Holy Name Medical Center, ensuring high visibility and accessibility.
- Versatile 7,534 SF building suitable for medical, professional services, or owner‑occupiers with flexible office layouts.
- Immediate income from diverse tenant base with short‑term leases, offering significant value‑add opportunities.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$115,270
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,305,400
$2.3M
Cap Rate 7%
$1,646,714
$1.6M
Cap Rate 9%
$1,280,778
$1.3M
Market Conditions
NOI Build-Up for 7,534 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$226.0K $30.00/SF
− Vacancy
−$72.3K −$9.60/SF
EGI
$153.7K $20.40/SF
− OpEx
−$38.4K −$5.10/SF
NOI
$115.3K $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,305,400
Cap Rate 7%
$1,646,714
Cap Rate 9%
$1,280,778
Alternative Uses
Best Use
Office B
$1.65M
$1.44M – $1.92M
NOI $115,270 @ 7.0% cap · market cap 7.95%
Second Best
Healthcare Medical
$1.60M
$1.40M – $1.87M
NOI $112,178 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,709 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 07666, NJ
41,246
Population
13,851
Households
3
Avg Household Size
41
Median Age
54%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
6,874
Density / Sq Mi
$134,311
Median Household Income
$59,144
Median Earnings
$1,850
Median Rent
$496,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Versatile 7,534 SF office/medical building in Teaneck's West Englewood.
Where is this office building located?
The property is located at 1178-1182 Teaneck Rd Teaneck, NJ.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Prime location in Teaneck's West Englewood, steps from Holy Name Medical Center, ensuring high visibility and accessibility.; Versatile 7,534 SF building suitable for medical, professional services, or owner‑occupiers with flexible office layouts.; Immediate income from diverse tenant base with short‑term leases, offering significant value‑add opportunities.
