Corner Medical Office
For Sale
Contact for pricing
121 Cedar Ln, Teaneck, NJ 07666
Corner office building near Holy Name Medical Center with highway and public transit access.
Property Size7,071 SF
Price / SF$325.27
Days on Market51
Property Features for 121 Cedar Ln
General Information
Standard status
Active
Size
7,071 SF
Class
B
Total Parking Spaces
13
Property subtype
Office
Zoning
B2, Teaneck
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Additional Details
Highway Access
Yes
Building Details
Year Built
1970
Year Renovated
2018
Stories
3
Units
13
Tenancy
Multi
Listing Agency:
Alexander Anderson Real Estate Group LLC
Listed By:
Alex Mouzakitis · License #2190526
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 10 at 1:17PM
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 Alexander Anderson Real Estate Group LLC
Investment Insights
Based on property information with market context.
This generational office property is being offered for the first time in over 25 years, presenting a value-add angle for both investors and owner-users. The current tenant roster is large and diverse, with tenants largely operating as mental health practitioners. The leasing profile includes a mix of longer-term occupancy and several tenants on short-term leases, with rents described as below market.
The building is positioned on a corner location with immediate access to Holy Name Medical Center. It also offers highway access and is steps from public transit, supporting convenient arrival for staff, patients, and visitors.
For owner-users, the proximity to a major medical center and the availability for a hands-on approach with tenants on shorter terms can be a practical fit. For investors, the combination of a stable, long-standing tenant mix and near-term leasing flexibility is designed to support active repositioning while maintaining an established base of healthcare-related services.
The building is positioned on a corner location with immediate access to Holy Name Medical Center. It also offers highway access and is steps from public transit, supporting convenient arrival for staff, patients, and visitors.
For owner-users, the proximity to a major medical center and the availability for a hands-on approach with tenants on shorter terms can be a practical fit. For investors, the combination of a stable, long-standing tenant mix and near-term leasing flexibility is designed to support active repositioning while maintaining an established base of healthcare-related services.
Key Highlights
- 1970‑built corner office building with access to Holy Name Medical Center
- Corner location with highway access and steps to public transit
- Large, diverse tenant roster with mostly mental health practitioners
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
$108,186
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
4.70%
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%
$2,163,720
$2.2M
Cap Rate 7%
$1,545,514
$1.5M
Cap Rate 9%
$1,202,067
$1.2M
Market Conditions
NOI Build-Up for 7,071 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
$212.1K $30.00/SF
− Vacancy
−$67.9K −$9.60/SF
EGI
$144.2K $20.40/SF
− OpEx
−$36.1K −$5.10/SF
NOI
$108.2K $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%
$2,163,720
Cap Rate 7%
$1,545,514
Cap Rate 9%
$1,202,067
Alternative Uses
Best Use
Office B
$1.55M
$1.35M – $1.80M
NOI $108,186 @ 7.0% cap · market cap 4.70%
Second Best
Healthcare Medical
$1.50M
$1.32M – $1.75M
NOI $105,284 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,247 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,845
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 - Corner office building near Holy Name Medical Center with highway and public transit access.
Where is this office building located?
The property is located at 121 Cedar Ln Teaneck, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 1970‑built corner office building with access to Holy Name Medical Center; Corner location with highway access and steps to public transit; Large, diverse tenant roster with mostly mental health practitioners
