520 Cedar LnTeaneck, NJ 07666

Property Details for 520 Cedar Ln

Year built

1963

Construction

BRICK

Lot size

0.58 AC

Zone code

MX-1

Property type

Other commercial real estate

APN

60 00702-0000-00001- 01

APU

600070200000000101

Description

This exceptional investment opportunity presents a 14,737-square-foot Walgreens located at 520 Cedar Ln, Teaneck, NJ 07666, in Bergen County. The property, built and renovated in 2016, boasts a Class A rating and is situated on a prominent corner lot with high visibility. The single-tenant, net-leased property features a corporate guarantee from Walgreens, providing significant financial security. With a remaining lease term of 12 years (expiring December 30, 2036), and eleven 5-year renewal options, this investment offers long-term stability. The current lease commenced December 14, 2016, and the property enjoys 100% occupancy. The asking price is $8,700,000, representing a 6.40% cap rate based on a net operating income (NOI) of $559,587. This prime location benefits from high traffic volume (over 22,000 vehicles per day) and is surrounded by complementary businesses including CVS, IHOP, KFC, Dunkin' Donuts, and Stop & Shop. Convenient access to major transportation arteries such as Interstate Route 80, the NJ Turnpike, and NJ Transit train lines further enhances its appeal. This is a rare opportunity to acquire a strong-performing, triple-net-leased asset in a densely populated, affluent New York Metro suburb with a population exceeding 950,000.

• Alternative Use

  Use

  Valuation

  Residential

  $4,755,579

  Hospitality

  $4,356,084

  Educational

  $3,624,211

  Medical

  $3,748,854

  Retail

  $5,637,662

Location Insight

City

Teaneck

County

Bergen

State

New Jersey

Latitude

40.8895

Longitude

-74.0242

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].