Fort Lee Medical/Professional
For Sale
$4,000,000
810 Abbott Blvd, Fort Lee, NJ 07024
Medical/professional building for sale in Fort Lee, New Jersey.
Property Size14,503 SF
Price / SF$275.81
Days on Market194
Property Features for 810 Abbott Blvd
General Information
Standard status
Active
Size
14,503 SF
Property subtype
Office Medical
Occupancy
94%
Amenities
94% Occupied Medical and Professional Office Property with 14 Tenants Across 14,503 Square Feet
Healthcare-Oriented Tenant Mix Includes Cardiology, Internal Medicine, General Dentistry, Podiatry, Physical Therapy, Chiropractic Care, Audiology, Speech Therapy, Acupuncture, and More
Established Tenancy Includes Hackensack Meridian Health Cardiology, Holy Name-Affiliated Physician Andrei Terentiev, MD, and Speech & Hearing Associates, a Nine-Location New Jersey Practice
New 10-Year Lease with Good Care Dental Extending Through January 2035, Supported by Approximately $100,000 of Tenant-Funded Improvements
Established Tenant Base with Lease Commencement Dates Dating Back to 2017
Staggered Lease Expirations Through 2031, Supplemented by Good Care Dental's Lease Through January 2035
Diversified Rent Roll with No Single Tenant Occupying More Than 13% of the Property's Gross Leasable Area
Contractual Rent Increases Across Multiple Leases Provide Built-In Revenue Growth
Building Details
Building Size
14,503 SF
Year Built
1966
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Alan Cafiero · License #License(s): NJ: 0791092
(201) 742-6118
Source:
Marcusmillichap
Added: Mar 26
Changed: Sep 4
Last Checked: Oct 5 at 3:00PM
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 Marcus & Millichap - New Jersey
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 / Yr
$221,896
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,437,920
$4.4M
Cap Rate 7%
$3,169,943
$3.2M
Cap Rate 9%
$2,465,511
$2.5M
Market Conditions
NOI Build-Up for 14,503 SF
Gross rent
$435.1K $30.00/SF
− Vacancy
−$139.2K −$9.60/SF
EGI
$295.9K $20.40/SF
− OpEx
−$74.0K −$5.10/SF
NOI
$221.9K $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 Rate 5%
$4,437,920
Cap Rate 7%
$3,169,943
Cap Rate 9%
$2,465,511
Alternative Uses
Best Use
Office B
$3.17M
$2.77M – $3.70M
NOI $221,896 @ 7.0% cap · market cap 5.55%
Second Best
Healthcare Medical
$3.08M
$2.70M – $3.60M
NOI $215,944 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$3.79M
$3.31M – $4.42M
NOI $265,092 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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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 $4,000,000.
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.
