Medical Suite in Prime
For Sale
Contact for pricing
2185 Lemoine Ave, Fort Lee, NJ 07024
Medical suite with high visibility near George Washington Bridge.
Property Size700 SF
Price / SF$428.57
Days on Market108
Property Features for 2185 Lemoine Ave
General Information
Standard status
Active
Size
700 SF
Class
B
Total Parking Spaces
1
Property subtype
Office
Investment Type
Owner/User
Building Details
Units
1
Listing Agency:
KW Commercial
Listed By:
Bruce Elia · License #NJ 0893523
Source:
Crexi
Added: May 18
Changed: Aug 27
Last Checked: Aug 31 at 4:23AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This 700-square-foot medical suite is located in the Bridge Plaza building on Lemoine Avenue, offering visibility and traffic exposure. The property is situated steps from the George Washington Bridge, providing access to major highways, shopping, and restaurants. The lobby-level unit features new street-front windows, three rooms, a waiting area, storage, a walk-in closet, an existing kitchenette, and a full bath. One assigned parking space is included. This is a medical office co-op.
Key Highlights
- Prime location on Lemoine Avenue with high visibility and traffic exposure.
- Steps from the George Washington Bridge with easy access to major highways.
- Approximately 700 square feet lobby‑level unit suitable for a medical suite.
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
$10,710
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
3.57%
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%
$214,200
$214.2K
Cap Rate 7%
$153,000
$153.0K
Cap Rate 9%
$119,000
$119.0K
Market Conditions
NOI Build-Up for 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
$21.0K $30.00/SF
− Vacancy
−$6.7K −$9.60/SF
EGI
$14.3K $20.40/SF
− OpEx
−$3.6K −$5.10/SF
NOI
$10.7K $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%
$214,200
Cap Rate 7%
$153,000
Cap Rate 9%
$119,000
Alternative Uses
Best Use
Office B
$153.0K
$133.9K – $178.5K
NOI $10,710 @ 7.0% cap · market cap 3.57%
Second Best
Healthcare Medical
$148.9K
$130.3K – $173.7K
NOI $10,423 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$182.8K
$159.9K – $213.3K
NOI $12,795 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,377
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
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- Red Roof Fort Lee Animal Hospital — 1634 Center Ave, Fort Lee, NJ 07024
- Englewood Cliffs Veterinary, PA — 34 Sylvan Ave, Englewood Cliffs, NJ 07632
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical suite with high visibility near George Washington Bridge.
Where is this medical office space located?
The property is located at 2185 Lemoine Ave Fort Lee, NJ.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Prime location on Lemoine Avenue with high visibility and traffic exposure.; Steps from the George Washington Bridge with easy access to major highways.; Approximately 700 square feet lobby‑level unit suitable for a medical suite.
