Professional Space in Prime
For Sale
$380,000
Pending
1323 Anderson #FE, Fort Lee, NJ 07024
Bright, fully built-out 1,500 sqft space in Fort Lee.
Property Size1,500 SF
Days on Market142
Property Features for 1323 Anderson #FE
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,195
Amenities
Central Air Heating
Gas Heating
Hot Air Heating
Listing Agency:
SILVER AND OAK REALTY
(201) 630-0360
Listed By:
TAMAYO OPPENHEIMER
Source:
Corcoran
Added: Apr 10
Changed: Aug 23
Last Checked: Aug 22 at 7:12AM
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 SILVER AND OAK REALTY
Investment Insights
Based on property information with market context.
Located on Anderson Avenue in Fort Lee, this 1,500 sqft professional space offers an opportunity in one of Bergen County’s commercial corridors. The space, formerly a dental practice, includes plumbing for operatories, private treatment rooms, a reception area, and storage. Expansive windows provide natural light. The location is near the George Washington Bridge to Manhattan and is surrounded by retail, dining, and residential communities. High daily foot and vehicle traffic provide exposure, and parking is available nearby. This space can be tailored to suit various visions, including dental, physician, wellness provider, or investor uses.
Key Highlights
- Prime location on high‑traffic Anderson Avenue in Fort Lee's commercial hub.
- Fully built‑out 1,500 sqft professional space ready for immediate occupancy.
- Equipped with plumbing and infrastructure ideal for medical or professional use (formerly a dental practice).
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
$22,950
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
6.04%
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%
$459,000
$459.0K
Cap Rate 7%
$327,857
$327.9K
Cap Rate 9%
$255,000
$255.0K
Market Conditions
NOI Build-Up for 1,500 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
$45.0K $30.00/SF
− Vacancy
−$14.4K −$9.60/SF
EGI
$30.6K $20.40/SF
− OpEx
−$7.7K −$5.10/SF
NOI
$23.0K $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%
$459,000
Cap Rate 7%
$327,857
Cap Rate 9%
$255,000
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 6.04%
Second Best
Healthcare Medical
$319.1K
$279.2K – $372.2K
NOI $22,334 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,290
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07024, NJ
40,171
Population
19,748
Households
2
Avg Household Size
46
Median Age
65%
College-Educated
95%
High-School Grad
2.5 sq mi
ZIP Area
16,068
Density / Sq Mi
$105,594
Median Household Income
$71,008
Median Earnings
$2,257
Median Rent
$422,200
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?
Medical Office Space - Bright, fully built-out 1,500 sqft space in Fort Lee.
Where is this medical office space located?
The property is located at 1323 Anderson #FE Fort Lee, NJ.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Prime location on high‑traffic Anderson Avenue in Fort Lee's commercial hub.; Fully built‑out 1,500 sqft professional space ready for immediate occupancy.; Equipped with plumbing and infrastructure ideal for medical or professional use (formerly a dental practice).
