Senior Living/Medical/Office Facility

Senior Living/Medical/Office Facility

Senior Living/Medical/Office Facility
West Orange, NJ
Reserve $2,950,000
Appraised at $8,100,000*
July 18
Auction Date
34
days
20
hours
50
minutes

Property Highlights

Listing Agents
Randy Horning & Darren Lizzack
NAI James E. Hanson

Overview
Rare opportunity to acquire a vacant former senior housing complex in West Orange, NJ located in a desirable area with excellent amenities and transportation links. This spacious 32,000 square foot facility sits on approximately 2.2 acres and consists of a 1-story and partial 3-story building that was formerly operated as an assisted living facility with 44 rooms. The property is ideal for a variety of uses including, senior living, healthcare, medical office or redevelopment.

Description
Land Area: 2.2± acres
Frontage: 177'± of street frontage
No. Of Buildings: 2
Building Size: 32,000± sq. Ft. GBA
Stories: 3
Year Renovated/Expanded: 2011 & 2017
No. of Units: 44 studio rooms

Highlights
Strategic location conveniently located near major highways, public transportation and essential amenities.

Large capacity with 44 rooms and 3 courtyards providing ample space for a range of senior living or healthcare services.

Growing demand for senior living facilities in the area due to aging population.

Significant potential for value enhancement through renovation, expansion or redevelopment.

* 2017 appraisal

How to Participate

  1. Download Brochure Click Here
  2. Review Due Diligence Click Here
    Includes Bid Instructions, building plans, survey, zoning opinion letter, projected financials and more.
  3. Tour Property
    By appointment only. Please call 212.867.3333 or email [email protected] to arrange a tour on:

    · Wednesday, June 12
    · Friday, June 27
    · Thursday, July 11
  4. BID YOUR PRICE, BID YOUR TERMS:

    You must submit a bid by the deadline on July 18 at 4pm EST, either on the seller’s preferred terms or on your terms. Bidding instructions are included in the Due Diligence Information.

    Subject to prior sale. Submit bid at any time. All bids are encouraged. Buyer’s Premium 5%.

    Seller (a) will accept the highest bid at or above the Reserve (on terms set forth by Seller) and (b) has the right to accept a bid below the Reserve and/or a bid on your terms.

    Broker participation invited.