1361 St Georges AveRahway, NJ 07065

For Sale
$955,000

High-yield NNN lease, strong cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
93
This Rahway, NJ medical office building presents a compelling investment opportunity. The 2,403 square foot, single-tenant property, located at 1361 St. Georges Ave, is currently 100% occupied under a triple-net (NNN) lease with Olin Dental Group, expiring June 29, 2026, with renewal options. The building, constructed in 1900 and extensively renovated in 2011, boasts 2 stories and sits on a 7,056-acre lot (APN: Blk 168 Lot 25). Features include 2-zone central air and gas heat, 10 parking spaces (including one handicapped space), and a UV Angel air purification system. The property offers a strong 8.9% cap rate, with a pro-forma cap rate of 8.97%, and a current NOI of $85,680. The asking price is $955,000, translating to $397.42 per square foot and $2,403 per square foot of land value. The property is zoned R-2. All financial documents are available for review. This turnkey investment is ideal for those seeking a stable, high-return asset in a desirable location.

Highlights

  • Triple-net lease to Olin Dental Group expiring June 30, 2026, with renewal options.
  • Fully renovated in 2011.
  • Features two-zone central air conditioning and gas heat.
  • Ten on-site parking spaces, including one handicapped-accessible space.
  • Equipped with a UV Angel air purification system.
  • 8.9% cap rate.

Property Details for 1361 St Georges Ave

Property type
Other office properties, Medical offices
Square Feet
2,403 SF
Year Built/Renovated
1900/2011
Buildings
1
Stories
2
Lot Size (sq. ft)
307,359,360 SF
Units
1

Location Insight

City
Rahway
County
Union
State
New Jersey
Latitude
40.612099473632
Longitude
-74.286189106997
1361 St Georges Ave, Rahway, New Jersey

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1361 St Georges Ave
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