- For Sale $2,973,670
- Property Type Office - Medical Office
- Property Size 25,671 SF
- Lot Size 5.9 Acre
- Cap Rate % 10
- Additional Rent Contact for pricing
- # of Floors 2
- Date Updated Dec 9, 2024
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.
Reach out to the broker for more info on lease terms and amenities
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Contacts
Location
Getting Around
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Walk Score ®
24/100
Car-Dependent
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Bike Score ®
14/100
Somewhat Bikeable
- City Randolph, NJ
- Neighborhood Randolph
- Zip Code 07869
- Market New Jersey
Points of Interest
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Morris Plains
6.28 miles
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Convent Station
9.46 miles
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Bernardsville
9.87 miles
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Shell
1.55 miles
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76
2.35 miles
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Delta
2.55 miles
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BP
2.63 miles
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Fuel 4
3.00 miles
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Speedway
3.05 miles
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Star Fuel
3.46 miles
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Costco Gas
3.54 miles
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QuickChek
3.57 miles
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Tesla Supercharger
3.87 miles
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P9
0.36 miles
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P7
0.47 miles
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P8
0.50 miles
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P6
0.59 miles
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P5
0.70 miles
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P4
0.77 miles
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P1
0.78 miles
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P2
0.82 miles
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P3
0.83 miles
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NJ Transit Mt. Arlington
3.43 miles
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Roxbury Motel
3.34 miles
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TownePlace Suites Dover Rockaway
3.34 miles
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Homewood Suites by Hilton Dover - Rockaway
3.40 miles
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Courtyard Rockaway-Mt. Arlington
3.65 miles
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Hilton Garden Inn Rockaway
3.89 miles
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Express Hotel & Suites (Mount Arlington-Rockaway Area)
3.91 miles
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Quality Inn
4.64 miles
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Kingtown Motel
5.58 miles
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Lakeside Motel
5.74 miles
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Hampton Inn Denville/Rockaway/Parsippany
5.91 miles
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Dairy Queen
0.14 miles
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Mondo Pizza
1.02 miles
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Wendy's
1.19 miles
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Zuzanna's Gourmet
1.67 miles
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Black River Barn
1.83 miles
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Dunkin' Donuts
1.85 miles
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Domino's
2.38 miles
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Arepas Paisas
2.58 miles
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IHOP
2.66 miles
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Pancho Villa Rodeo
2.76 miles
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County College of Morris
0.60 miles
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DeMare hall
0.62 miles
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Emeriti Hall
0.67 miles
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Henderson Hall
0.71 miles
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Canfield Avenue Elementary School
1.34 miles
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Center Grove Elementary School
1.48 miles
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Fernbrook Elementary School
1.49 miles
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Ironia Elementary School
2.08 miles
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American Christian School
2.10 miles
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Academy Street Elementary School
2.15 miles
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Morris Plains Co-Op Play School
5.62 miles
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Bright Horizons
5.75 miles
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Kiddie City Care Academy
6.24 miles
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The Goddard School
6.28 miles
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First Impressions Nursery School
6.64 miles
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Cradles To Crayons
7.14 miles
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Cradles to Crayons
7.39 miles
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Kiddie Academy
7.80 miles
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Children's Circle at Saint Andrew Lutheran Church
9.92 miles
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KinderCare
9.98 miles
Frequently Asked Questions
The space currently listed for sale at Randolph Medical Arts Building asks for $2,973,670.
Randolph Medical Arts Building totals 25,671 square feet.
Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.
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