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29 Park St 6,700 SF Office Building Montclair, NJ 07042 $4,883,200 CAD ($728.84 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Unique Retail & Medical Zoning
- Flexible Sale Options
- Excellent Location
- Substantial Renovation & OR License
- Superior Demographics
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a medical office property located at 29 Park Street in Montclair, NJ (the “Property”).
The Property is offered as an investor sale, owner-use sale or sale leaseback with a newly created long-term lease to New Jersey Plastic Surgery (the “Tenant”). The proposed lease terms will feature an absolute NNN structure, annual rent increases and extension options. New Jersey Plastic Surgery is a nationally renowned cosmetic and reconstructive surgery practice also extensively engaged in clinical research and development services.
The Property is conveniently located a half-block from the bustling downtown district of Montclair and easily accessible by car, bus or train. Montclair is an affluent community with an average household income over $198,000 (1-mile radius). It is located in Essex County, less than 20 miles from New York City.
The Property is offered as an investor sale, owner-use sale or sale leaseback with a newly created long-term lease to New Jersey Plastic Surgery (the “Tenant”). The proposed lease terms will feature an absolute NNN structure, annual rent increases and extension options. New Jersey Plastic Surgery is a nationally renowned cosmetic and reconstructive surgery practice also extensively engaged in clinical research and development services.
The Property is conveniently located a half-block from the bustling downtown district of Montclair and easily accessible by car, bus or train. Montclair is an affluent community with an average household income over $198,000 (1-mile radius). It is located in Essex County, less than 20 miles from New York City.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Building Size
6,700 SF
Building Class
C
Year Built
1949
Price
$4,883,200 CAD
Price Per SF
$728.84 CAD
Cap Rate
7.25%
NOI
$354,032 CAD
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
2,233 SF
Building FAR
0.59
Lot Size
0.26 AC
Zoning
R-1B - Low density residential district
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Walk Score®
Walker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 13-02212-0000-00019 | Improvements Assessment | $1,403,964 CAD |
| Land Assessment | $522,204 CAD | Total Assessment | $1,926,168 CAD |
PROPERTY TAXES
Parcel Number
13-02212-0000-00019
Land Assessment
$522,204 CAD
Improvements Assessment
$1,403,964 CAD
Total Assessment
$1,926,168 CAD
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29 Park St
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