Palisades Medical Arts Building — Sale in Fort Lee, NJ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Fort Lee, NJ 07024
  • Year built: 1966

Photos

Palisades Medical Arts Building — Sale in Fort Lee, NJ, photo 1 of 2
Palisades Medical Arts Building — Sale in Fort Lee, NJ, photo 2 of 2

Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire Palisades Medical Arts Building, a 14,503-square-foot medical and professional office property located at 810 Abbott Boulevard in Fort Lee, New Jersey. The four-story building is currently 94% occupied by 14 tenants, with the majority of the occupied space dedicated to healthcare-related uses. Investment Highlights: • 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

Market Context

This office in Fort Lee, NJ is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1966. Compare it against other office listings for sale in Fort Lee, NJ — view the full market.

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