Fort Lee Medical/Professional Building

810 Abbott Blvd, Fort Lee, NJ 07024

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For Sale

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Medical/professional building for sale in Fort Lee, New Jersey.

Type:Office

Property size:

18,432 SF

Price / SF:

$244/SF

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.
Scarcity of medical buildings in Fort Lee due to stringent parking requirements.
Strong value proposition for attracting medical tenants.
Building constructed in 1966.

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Chris Cervelli

For Sale

Contact for pricing

Medical/professional building for sale in Fort Lee, New Jersey.

Type:Office

Property size:

18,432 SF

Price / SF:

$244/SF

Added:: Dec 2, 2021
Days on Market:: 1678
Last Refresh:: Jul 5 at 2:10 pm

Property Features for 810 Abbott Blvd

General Information

Standard status: Active
Size: 18,432 SF
Property subtype: Office

Building Details

Year Built: 1966

We can help!

Contact an agent

Chris Cervelli

Listing office Cervelli Real Estate & Property Management

Listing date Dec 2, 2021

Source Crexi

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

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.
Scarcity of medical buildings in Fort Lee due to stringent parking requirements.
Strong value proposition for attracting medical tenants.
Building constructed in 1966.

Overview

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.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$553.0k	$30.00
− Vacancy	−$176.9k	−$9.60
EGI	$376.0k	$20.40
− OpEx	−$94.0k	−$5.10
NOI	$282.0k	$15.30

18,432 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$4.03M

$3.53M – $4.70M (±1% cap)

NOI $282,010 @ 7.0% cap · market cap 6.27%

Second Best

Healthcare Medical

$3.92M

$3.43M – $4.57M (±1% cap)

NOI $274,445 @ 7.0% cap · market cap 6.10%

Theoretical Best

Office A

$4.81M

$4.21M – $5.62M (±1% cap)

NOI $336,907 @ 7.0% cap · market cap 7.49%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Medical Office Space

Suggested Use

Similar Places Nearby

Oradell Veterinary Group of Fort Lee — 1200 Palisade Ave, Fort Lee, NJ 07024
Gambardella Paul G DVM — 1200 Palisade Ave, Fort Lee, NJ 07024
Emerson Animal Hospital — 1540 lemoine ave, fort lee, nj 07024
House Calls For Pets — 534 10th St, Palisades Park, NJ 07650
Son Hyekeum DVM — 1580 Lemoine Ave, Fort Lee, NJ 07024

Location Insight

Map
Local Demand

City: Fort Lee
County: Bergen
State: New Jersey
Longitude: -73.9821415
Latitude: 40.8317837

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For sale
Medical Office Space
NJ
Fort Lee
07024
810 Abbott Blvd

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.