696 Palisade Ave Teaneck, NJ 07666

Property Details for 696 Palisade Ave

Year built

1930

Construction

BRICK

Lot size

0.26 lot acres

Zone code

B2

Property type

Commercial real estate

APN

60 02507-0000-00003

APU

6002507000000003

Description

This exceptional Teaneck, NJ medical office building at 696 Palisade Avenue offers a unique investment opportunity. The 4,400 square foot building features a main floor dental office currently leased for $95,000 annually with seven years remaining on the lease, including annual rent increases. The lower level comprises 2,200 square feet, with approximately 1,300 square feet vacant and 900 square feet rented month-to-month (easily vacated for an owner-user). The property boasts five dental treatment rooms on the main floor, three lavatories, and ample space for private doctor's offices. The building generates approximately $110,000 in gross annual income, with potential for increased revenue from the vacant space. The property is zoned for office use and includes 19 onsite parking spaces, supplemented by street parking. Property taxes for 2023 were $24,269. The asking price is $1,950,000, with a lease rate of $18 per square foot plus utilities. This is a prime opportunity for owner-users or investors seeking a strong return in a desirable location. The building's current income stream, combined with the potential for increased occupancy, makes this a compelling investment.