765 Route 10, Randolph, NJ
Randolph Medical Arts Building
765 Route 10
Randolph, NJ 07869
Medical Outpatient Building Exclusive Investment - UNDER CONTRACT!
Property Type: Investment, Medical
Price:
$2,973,670
Spaces Available / Floor Plans:
25,671 SF (Two-Story Building) situated on 5.9 acres
Class A Medical Outpatient Building (MOB)
Lease Hold Interest
8 Tenants – 100% Occupied
NOI: $297,367
10% Cap Rate
18.4% IRR
Wolf Commercial Real Estate (WCRE | CORFAC International), as an exclusive broker, is pleased to present a 25,671 SF Class A Medical Office NNN investment opportunity. This Lease Hold Interest asset is subject to a long-term ground lease with three, ten-year options.
The eight-tenant asset provides investors “sticky tenants” stability with ID Care, infectious disease treatment specialists, occupying 26% of the property. Lehnes Orthodontist opened a state of the art 3,937 SF orthodontist office in 03/2022 and contributed over $125 psf +- tenant improvements and secured a fifteen(15-year) lease. Alliance Orthopedics committed to a seven (7-year) lease and is contributing $75 psf +- tenant improvements.
The asset’s paramount tenants establish the value, with the quality construction and location underscoring the value. The asset presents a Core Plus investment with a 10% Cap Rate and 18.64% Internal Rate of Return
(IRR) for a seven-year hold.
For More Information Contact
- Kim Kretowicz - Kim.Kretowicz@wolfcre.com
- Call Now: 856 857 6300
