Turnkey Medical Office Near
For Sale
$467,000
150 OVERLOOK AVE, Hackensack, NJ 07601
Move-in ready medical office space near Hackensack University Medical Center.
Property Size1,700 SF
Price / SF$274.71
Days on Market145
Property Features for 150 OVERLOOK AVE
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,669
Listing Agency:
PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
(201) 223-4207
Listed By:
MONICA CAPELLAN · License #1649145
Source:
Corcoran
Added: Apr 9
Changed: Aug 26
Last Checked: Aug 30 at 5:55PM
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 PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This turnkey medical office, located in a northern New Jersey healthcare corridor near Hackensack University Medical Center, is available for sale. The suite, approximately 1,700 rentable square feet, has been operating as a GYN practice for nearly 20 years. It features a waiting area with administrative reception window, five consultation/exam rooms, two private offices, two restrooms, and a kitchenette. A Jack-and-Jill layout connects select rooms to support clinical workflow and patient circulation. The suite includes eight assigned parking spaces and a private entrance from the parking area, providing direct patient access. This meticulously maintained, move-in ready space is suitable for specialty practitioners, healthcare groups, or investors seeking a stabilized medical asset in a high-demand location.
Key Highlights
- Turnkey medical office, zero buildout required.
- Premier healthcare corridor location, steps from Hackensack University Medical Center.
- Established GYN practice location with nearly 20 years of continuous operation.
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
$26,010
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
5.57%
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%
$520,200
$520.2K
Cap Rate 7%
$371,571
$371.6K
Cap Rate 9%
$289,000
$289.0K
Market Conditions
NOI Build-Up for 1,700 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
$51.0K $30.00/SF
− Vacancy
−$16.3K −$9.60/SF
EGI
$34.7K $20.40/SF
− OpEx
−$8.7K −$5.10/SF
NOI
$26.0K $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%
$520,200
Cap Rate 7%
$371,571
Cap Rate 9%
$289,000
Alternative Uses
Best Use
Office B
$371.6K
$325.1K – $433.5K
NOI $26,010 @ 7.0% cap · market cap 5.57%
Second Best
Healthcare Medical
$361.6K
$316.4K – $421.9K
NOI $25,312 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$443.9K
$388.4K – $517.9K
NOI $31,073 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,097
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07601, NJ
46,030
Population
21,405
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
10,960
Density / Sq Mi
$82,212
Median Household Income
$50,265
Median Earnings
$1,794
Median Rent
$370,300
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 - Move-in ready medical office space near Hackensack University Medical Center.
Where is this medical office space located?
The property is located at 150 OVERLOOK AVE Hackensack, NJ.
What is the asking price?
The asking price for this property is $467,000.
What are key features of this property?
This property features: Turnkey medical office, zero buildout required.; Premier healthcare corridor location, steps from Hackensack University Medical Center.; Established GYN practice location with nearly 20 years of continuous operation.
