For Sale
$700,000

90 Prospect AveHackensack, NJ 07601

Prime Medical Office, 8.26% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents three medical office condos totaling 3,813 square feet, located at 90 Prospect Avenue in Hackensack, New Jersey. Currently 100% occupied by a pediatric tenant under a 3-year lease, this Class B property offers immediate cash flow and long-term stability. The building boasts 15 dedicated parking spaces, a significant advantage in this high-demand location. Situated directly across from Hackensack University Medical Center and conveniently close to Route 80 and numerous amenities, this property enjoys unparalleled accessibility. The asking price is $700,000, representing a compelling 8.26% capitalization rate based on a net operating income (NOI) of $57,849. The ground-floor location provides convenient access for patients and staff. This turnkey investment is ideal for those seeking a stable, high-return medical office property in a prime New Jersey location. The property features a single tenancy and is comprised of one building. This is a rare opportunity to acquire a well-positioned medical office condo with a strong tenant and excellent growth potential. The property's location offers easy access to major transportation routes and a wealth of local amenities. The current lease provides a secure income stream for the foreseeable future.

Highlights

  • Three medical office condos totaling 3,813 square feet.
  • Currently 100% occupied by a pediatric tenant under a 3-year lease.
  • 8.26% capitalization rate with a $57,849 net operating income (NOI) and an asking price of $700,000.
  • 15 dedicated parking spaces.
  • Ground floor location at 90 Prospect Avenue, Hackensack, NJ, directly across from Hackensack University Medical Center, with easy access to Route 80.

Property Details for 90 Prospect Ave

Property type
Office properties, Medical offices
Square Feet
3,813 SF
Class
B
Buildings
1
Units
3

Location Insight

City
Hackensack
County
Bergen
State
New Jersey
Latitude
40.886042941912
Longitude
-74.056986076961
90 Prospect Ave, Hackensack, New Jersey

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90 Prospect Ave
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