350 Madison Ave 10 474 pi² 100% Loué Bureau Immeuble Cresskill, NJ 07626 3 758 920 $ CAD (358,88 $ CAD/pi²) 5,82% Taux de capitalisation

Fully renovated multi-tenant office building located at the roundabout of Cresskill, offering excellent exposure, visibility, and signage. This attractive property features five office suites with abundant natural light from large windows throughout and a strong, well-maintained structure. The building was previously used as a bank and has since been converted to high-quality office space. It generates an annual gross income of $222,000 with operating expenses of $65,000, resulting in a strong net operating income of $157,000. All tenants are secured with long-term leases ranging from five to ten years, each with options to extend, providing stable and predictable income. The owner will remain as a tenant on the first floor. The property offers 35 on-site parking spaces, six bathrooms with two located on each floor, and a finished basement currently used by the first-floor tenant. A new fire alarm system has been installed and connected directly to the fire department, and new exterior signage has been approved and installed. Additionally, board approval has been granted to extend the drive-through portion of the building, which will increase rental income on the first floor. This is an exceptional investment opportunity in a prime location with strong cash flow, long-term tenants, and future income upside. If the AC system is replaced, PSE&G expenses will be significantly reduced due to the installation of a high-efficiency system.