220 Hamburg Tpke Ste 14a Wayne, NJ 07470-2132

Property Details for 220 Hamburg Tpke Ste 14a

Lot size

0.04 lot acres

Property type

Office Properties & Spaces

APN

14 02904-0000-00008-0000-C014A

APU

14029040000000080000C014A

Description

This exceptional investment opportunity presents a portfolio of five medical office suites totaling 5,400 square feet, located in Wayne, New Jersey. The property boasts a 100% occupancy rate with a strong, established tenant: Advanced Eye Care, a reputable ophthalmology practice performing over 600 cataract surgeries annually. The portfolio benefits from a triple-net (NNN) lease structure with a 7.75% cap rate and a substantial annual net operating income (NOI) of $198,143. Each lease includes annual rent escalations, providing a hedge against inflation. The leases are further secured by a corporate guarantee from ReFocus Eye Health, a large and established vision care management services organization. Four of the five suites enjoy a highly desirable location adjacent to St. Joseph's Hospital, a 229-bed acute-care facility. The portfolio's strategic location within a densely populated and affluent area, with average household incomes exceeding $116,000 within a 5-mile radius, ensures strong long-term growth potential. The asking price is $2,556,684, representing a price per square foot of $473.46. This investment offers a compelling combination of stable income, strong tenant occupancy, and significant upside potential in a growing market. The portfolio's contiguous footprint on the hospital campus provides further value and operational efficiency. With nearly seven years remaining on the lease term, this is a rare opportunity to acquire a high-performing medical office portfolio with exceptional long-term prospects.