Professional Physical Therapy

250 River Street, Hackensack, NJ 07601

$2,400,000

Cap Rate 7.77%

Views: 150 DOM: 386 Updated: 10.18.24 Posted: 11.03.23 Status: Active

Summary

Price $2,400,000	Built/Renov 1986	Tenant Professional Physical Therapy
Cap Rate 7.77%	Lease Type NN+	Guarantor Corporate
Size/SF 6,428	Lease Start 11-03-2016	#Units 205
Price/SF $373.37	Expiration 11-02-2026	Tenant Type Medical/Health
NOI $186,480	R. Term 1.11	Ownership Fee Simple
Rent/SF $28.44	Increases 2.0%/1/yrs	Pop 5Mi 575,885
Lot/AC 0.27	Options 1/5yrs/2%	AHHI 5Mi $146,504

Michael Lombardi

Horvath & Tremblay: NJ

Contact

Lease Highlights

Professional Physical Therapy has 2 years remaining on the current lease term with 1 (5-year) option to extend
Lease features 2% annual rental increases throughout the initial term and each option
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee by Thomas H. Lee Partners

Location Description

Professional Physical Therapy is strategically located at 250 River Street in Hackensack, with access to 19,257 vehicles passing by daily. The property is positioned within 700 feet of Main Street, less than half a mile from the Anderson Street Train Station, providing convenient service to Manhattan via the Pascack Valley Line. Additionally, it is only one mile from the Hackensack Hospital,...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strong tenant synergy
Top 100 MSA
Strong demographics
Favorable NN+ lease
Annual rent increases
Corporate Guarantee
Over 100 Units backed

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Links

Professional Physical Therapy Wikipedia Hackensack, New Jersey Zip Code 07601 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Professional Physical Therapy
Guarantor:Corporate
Company:Professional Physical Therapy
# Units:205
Stock:Private

About Tenant

Professional Physical Therapy (“Professional PT”) is a leading provider of physical therapy and rehabilitation services in the Northeast. Professional PT is the largest private outpatient physical...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	43,313	216,457	579,344
2023 Total Population :	40,765	213,965	578,555
2023 Employed Civilian Pop :	21,657	113,073	300,894
2023 Total Businesses :	2,626	9,842	24,149
2023 Average Household Income :	$ 100,716	$ 128,234	$ 130,676
2023 Total Consumer Spending :	$ 1425 M	$ 8727 M	$ 23618 M
2023 Median Age :	40	41	41
2023 Total Households :	16,579	80,697	214,095
2023 Pop Age 25+: Bachelor's Degree :	7,592	41,883	116,634
2023 Average Home Value :	$ 426,019	$ 535,939	$ 573,724

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
River St	E Camden St	2013	19,853	0.03 mi
East Salem Street	River St	2018	12,280	0.05 mi
Midtown Bridge Street	Midtown Pl	2018	10,877	0.12 mi
River Street	Midtown Bridge Approac	2018	17,001	0.13 mi
Salem Street	State St	2017	12,004	0.18 mi
Salem Street	Midtown Bridge St	2018	13,257	0.18 mi
East Mercer Street	Moore St	2017	9,384	0.19 mi
State Street	Salem St	2018	12,899	0.20 mi
State Street	Salem St	2017	12,609	0.20 mi
Mercer Street	Main St	2018	9,600	0.21 mi

Listing Broker

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