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261 James St
Morristown, NJ 07960

$910,000 USD

Medical Condo For Sale  •  2,115 SF

Property Details

  • Property Type Medical
  • Total Building Size 44,000 SF
  • Lot Size 5 AC
  • Building Class B
  • Year Built 1986
  • Tenancy Single
  • Zoning OSGU
0 Transit Score
8 Walk Score

1 Unit Available

Name Condo Use Size Price Details
3rd Floor - Unit 3B Medical Office 2,115 SF $910,000 USD
  • Unit Size: 2,115 SF
  • Condo Use: Medical Office
  • Price: $910,000 USD
  • Sale Type: Investment
  • Price/SF: $430.26 USD
Sale Notes
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656

Highlights

Best-in-class Tenant: Squire Dental is a growing DSO with 28 offices across the country.
7.80 Year NN+ Investment: This deal offers a great opportunity for buyers looking to acquire a long-term passive asset.
3% Annual Rental Increases: The lease features 3% annual rental increases, providing investors with growing cash flow and a hedge against inflation.
Ideal 1031 Exchange Property: With a passive structure and nearly 8 years of lease term, this is an ideal property for local or out of state investors
Multiple Doctors: The office is staffed by three doctors, which is typically indicative of a higher-producing location.

Amenities

  • Atrium
  • Air Conditioning

Public Transportation

Commuter RailDriveWalkDistance
Morristown (Morris & Essex Morristown Line - NJ Transit Commuter Rail (NJ Transit)) 5 min - 2.5 mi
Convent Station (Morris & Essex Morristown Line - NJ Transit Commuter Rail (NJ Transit)) 8 min - 3.5 mi
AirportDriveWalkDistance
Newark Liberty International 31 min - 23.1 mi
LaGuardia 64 min - 47.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 400
Type: Surface
Included in Rent: Yes
Seamus O'Brien 773-219-0964 Matthews Real Estate Investment Services
Seamus O'Brien 773-219-0964 Matthews Real Estate Investment Services