Fort Lee Medical/Professional
For Sale
Contact for pricing
810 Abbott Blvd, Fort Lee, NJ 07024
Medical/professional building for sale in Fort Lee, New Jersey.
Property Size18,432 SF
Price / SF$244.14
Days on Market1723
Property Features for 810 Abbott Blvd
General Information
Standard status
Active
Size
18,432 SF
Class
B
Property subtype
Office
Occupancy
85%
Lease Type
Modified Gross
Building Details
Year Built
1966
Stories
4
Units
16
Tenancy
Multi
Listing Agency:
Cervelli Real Estate & Property Management
(201) 868-6300
Listed By:
Chris Cervelli · License #9807944
Source:
Crexi
Added: Dec 2, 2021
Changed: Aug 21
Last Checked: Aug 20 at 9:26PM
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 Cervelli Real Estate & Property Management
Investment Insights
Based on property information with market context.
A medical/professional building in Fort Lee, New Jersey, is available for sale. The building spans over 20,000 square feet. Parking is available via the municipal lot across the street and on the side of the building next to Chabad Fort Lee. The limited number of medical buildings in Fort Lee is due to the municipality's stringent parking requirements. This gives the owner of the building a strong value proposition for medical tenants. The Property Size is 18,432 square feet.
Key Highlights
- Over 20,000 square feet of medical/professional building space.
- Located in Fort Lee, offering a prime business opportunity.
- Ample parking available via municipal lot and side of building.
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
$282,010
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
6.27%
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%
$5,640,200
$5.6M
Cap Rate 7%
$4,028,714
$4.0M
Cap Rate 9%
$3,133,444
$3.1M
Market Conditions
NOI Build-Up for 18,432 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
$553.0K $30.00/SF
− Vacancy
−$176.9K −$9.60/SF
EGI
$376.0K $20.40/SF
− OpEx
−$94.0K −$5.10/SF
NOI
$282.0K $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%
$5,640,200
Cap Rate 7%
$4,028,714
Cap Rate 9%
$3,133,444
Alternative Uses
Best Use
Office B
$4.03M
$3.53M – $4.70M
NOI $282,010 @ 7.0% cap · market cap 6.27%
Second Best
Healthcare Medical
$3.92M
$3.43M – $4.57M
NOI $274,445 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$4.81M
$4.21M – $5.62M
NOI $336,907 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,132
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Grantwood Veterinary Care — 735 Anderson Ave, Cliffside Park, NJ 07010
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/professional building for sale in Fort Lee, New Jersey.
Where is this medical office space located?
The property is located at 810 Abbott Blvd Fort Lee, NJ.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Over 20,000 square feet of medical/professional building space.; Located in Fort Lee, offering a prime business opportunity.; Ample parking available via municipal lot and side of building.
