500 N Franklin Tpke - Medical FOR SALE


Ramsey, NJ 07446
$25,000,000 USD
212-468-5907
500 N Franklin Tpke, Ramsey, NJ for Sale
$25,000,000 USD
Medical - FOR SALE
1/15
null | 8.38% Cap Rate

500 N Franklin Tpke
Ramsey, NJ 07446


HIGHLIGHTS

  • 500 North Franklin is a pristine 136,481 RSF office building with a WALT of five years and occupancy at 95% by an array of strong tenants.
  • Features a robust lineup of tenants, providing investors with a secure and stable cash flow.
  • Strategically positioned at the intersection of Hilltop Road and North Franklin Turnpike.
  • It is conveniently located near major national retailers such as Starbucks and Home Depot as well as several luxury car dealerships.

OVERVIEW

Meridian Investment Sales is pleased to present the exclusive offering of 500 North Franklin Turnpike, a premier office building strategically located in Ramsey, NJ. The property is located in the charming town of Ramsey in Bergen County and is located at the intersection of North Franklin Turnpike and Hilltop Road. The location provides for substantial visibility and traffic and features excellent natural light and air. The building is 136,481 rentable SF across three stories and is situated on approximately 8 acres, featuring exceptional ceiling heights of 13' and roughly 685 striped parking spots. The tenant roster includes a diverse mix of medical offices and business suites, with notable tenants such as Rockland Surgical 10,974 RSF and leased through June of 2035) and Bierman ABA, Inc (12,627 SF leased through May of 2034). The property boasts a WALT of approximately five years, providing a stable cash flow stream for the foreseeable future. 500 North Franklin Turnpike benefits from a location along the bustling Franklin Turnpike, surrounded by prominent national retailers including Aldi, Starbucks, Home Depot, and Walgreens, as well as luxury car dealerships such as Lexus and BMW. The surrounding area is characterized by strong demographics, with a median household income exceeding $160,000 and a population of over 170,000 within a five-mile radius. This property represents a compelling investment opportunity, combining long term tenant stability with a prime location in a high-income market.

FOR SALE DETAILS

PRICE

$25,000,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

8.38%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ramsey Office Centre

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

685

LAND DETAILS

LAND ACRES

8.56 AC

LAND SF

372,874 SF

ZONING

LO

APN/PARCEL ID

48-03702-0000-00001

ASK ABOUT THIS PROPERTY

David SchechtmanMeridian Capital Group, LLCMore Info
212-468-5907

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David SchechtmanMeridian Capital Group, LLCMore Info
212-468-5907

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.