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    111 Galway Pl Teaneck, NJ 07666

    Sponsored
    For Sale
    $3,000,000

    16,000 SF Office Building, 6 Units, 6% Cap Rate

    Property size:
    16,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add investment opportunity presents a two-story, 16,000-square-foot office building situated on a 37,440-square-foot lot at 111 Galway Place in Teaneck, New Jersey. The property, zoned L1, boasts a desirable location with high traffic visibility, making it an attractive option for a variety of businesses. Currently operating at 78% occupancy with six units, this multi-tenant building offers significant potential for increased revenue through lease modifications and strategic tenant improvements. The asking price is $3,000,000, representing a compelling $187.50 per square foot and a projected 6.00% capitalization rate. The building's flexible layout, suitable for traditional, executive, or medical office uses, allows for diverse tenant profiles. High ceilings and convenient access to major highways further enhance its appeal. This property presents a rare chance to acquire a well-located, multi-tenant office building in Bergen County, New Jersey, with substantial upside potential for savvy investors seeking a value-add project. The private ownership structure ensures a streamlined transaction process. The building's Class C designation reflects its potential for enhancement and repositioning within the market. This is a unique opportunity to capitalize on the strong demand for office space in this thriving community.

    Property Features for 111 Galway Pl

    General Information

    Property type
    Medical offices
    Square Feet
    16,000 SF
    Class
    C

    Building Details

    Stories
    2
    Units
    6
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Charles Ekstein Orthopedic Surgeon Dr. Iris A. Drey, ... Orthopedic Surgeon Coinlinx - Bitcoin ATM Atm Francesca Rahmer Physician Assistant Corradino Christine M ... Orthopedic Surgeon

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Teaneck
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0012449
    Latitude
    40.9061897

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    FAQs

    What type of property is this?
    Medical office - 16,000 SF Office Building, 6 Units, 6% Cap Rate
    Where is this medical office located?
    The property is located at 111 Galway Pl Teaneck, NJ.
    What is the asking price?
    The asking price for this property is $3,000,000.
    Request Owner's contact information
    111 Galway Pl Teaneck, NJ 07666
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    Teaneck, NJ 07666
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    111 Galway Pl Teaneck, NJ 07666
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