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Fully Leased Office Building 611 River Dr 86,003 SF 100% Leased Office Building Elmwood Park, NJ 07407 $23,765,357 CAD ($276.33 CAD/SF) 7.90% Cap Rate



Investment Highlights
- Strong Tenancy Across Various Industries
- Superior Accessibility & Location
- First Sale in 27 Years
- 5.8 Years Weighted Average Lease Term (WALT)
Executive Summary
A well-maintained and fully-occupied office building in Bergen County, New Jersey with strong cash-flow, and 5.8 years weighted average lease term (WALT).
STRONG ATTRIBUTES
Key building features include:
• A two-story atrium with granite and glass finishes
• Two (2) passenger elevators
• Ample amount of parking with 375 surface spaces
• Lower level storage plus rooftop cellular phone towers providing additional income
FIRST SALE IN 27 YEARS
The building was constructed in 1999 and has been owned by the same owners since then.
STRONG TENANCY
The building has been fully occupied since 2022, featuring (7)
seven tenants from various industries, including financial services, consulting, healthcare, and real estate, with Spencer Savings Bank as the anchor tenant.
SUPERIOR ACCESSIBILITY & LOCATION
The property is situated in an office park with a four-way traffic light, just off Exit 61 of Route 80, and minutes from Route 46 and the Garden State Parkway. It is also 12 miles from the George Washington Bridge and New York City.
Property Facts
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
Lee & Associates began in 1979 when Bill Lee opened its first office in Orange County, California. The company operates as a broker-owned commercial real estate firm providing services across multiple sectors. Their business model emphasizes local market expertise combined with international reach through a network of independently owned offices. Services include commercial brokerage, property management, valuation, and asset management. The firm serves various property types including industrial, office, retail, and multifamily assets. Over the years they've expanded their presence throughout North America while maintaining a focus on client-centered solutions.
RIPCO Real Estate has operated as a commercial brokerage since 1991. The company began in the New York City metro area and now maintains a presence in multiple states. Services include retail leasing, tenant representation, and investment sales across various property types. The firm works with both landlords and tenants to facilitate transactions. Over the years, they've expanded their geographic reach and service offerings while maintaining focus on commercial real estate sectors.
Sall Myers Medical Associates is a New Jersey–based medical practice specializing in accident-related evaluation and treatment. Established in 1954, the organization provides orthopedic, pain management, physical therapy, and diagnostic imaging services to patients requiring injury-related care. The Elmwood Park location serves as a central facility offering multidisciplinary treatment designed to address a range of trauma-related conditions. The practice operates multiple offices throughout the region and supports patient needs through on-site diagnostic tools such as X-ray and MRI capabilities.
Spencer Savings Bank, a community bank headquartered in Elmwood Park, NJ, has been serving its local communities with integrity and pride for more than 75 years. The bank, serving consumers and businesses, operates 20 Financial Centers throughout New Jersey.
YU & Associates, Inc. (YU) is a diversified consulting firm with proven accomplishments in transportation, education and health care facilities and urban redevelopment for public and private sector clients. Founded in 1992, YU is a Minority Business Enterprise (MBE) and is certified as a Disadvantaged Business Enterprise (DBE) with numerous state and local agencies. Their clientele ranges from institutions and redevelopment agencies to highly rated Architectural/Engineering firms.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
Real Estate | - | - | Lorem Ipsum | Jan 0000 | |
|
Real Estate | - | - | - | Jan 0000 | |
|
Health Care and Social Assistance | - | - | - | Jan 0000 | |
|
Finance and Insurance | - | - | - | Jan 0000 | |
|
Professional, Scientific, and Technical Services | - | - | - | Jan 0000 |
Property Taxes
| Parcel Number | 11-01019-0000-00018-02 | Improvements Assessment | $10,433,007 CAD |
| Land Assessment | $2,912,110 CAD | Total Assessment | $13,345,117 CAD |
Property Taxes
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Fully Leased Office Building | 611 River Dr
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