Prism Vision Teaneck
Recently renewed 8 years remain with 2.5% annual bumps STNL medical office
Marketing description
The offering is comprised of 2 noncontiguous lots located approximately 450 feet from one another both fronting on Cedar Lane. The main lot contains a one and partially 2 story building and 13 Parking spots. The second lot acts as an overflow parking lot for the practice and contains 20 asphalt paved parking spaces for a total of 33 parking spaces. This medical office property has strong access and visibility on Cedar Lane in the heart of Teaneck's business district. The tenant has recently renewed with a new 10-year NNN lease and has been in operation in the same building for 40 years. The building contains reception, back office, employee kitchen, private physician offices and patient rooms.
Investment highlights
Recently renewed 124 month lease. Tenant has a 40 year history on site. NNN lease with Owner responsible for roof and structure, Tenant responsible for all other operations and costs to operate. Tenant part of Prism Vision one of the largest Ophthalmology practices on the east coast. Lease dictated 2.5% annual rent bumps. The practice is wholly owned by McKesson.
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