November 13, 2024 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of the former Princeton Care Center (vacant) in Princeton, New Jersey. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,250,000.
The former Princeton Care Center is located at 728 Bunn Drive in Princeton, New Jersey and is improved by a 67,000 square foot three-story building on a large and secluded 6.27-acre parcel of land. The Property was constructed in 2000 and is zoned OR-1 T. The former Princeton Care Center had previously housed 119 patient beds spread across three floors, each with three separate wings. The building has plumbing run to each individual room and there are no interior load bearing walls, so the floor plan can be easily reconfigured to adjust the interior layout. The building is fully sprinklered, ADA compliant, and features two (2) elevators, and a large industrial-grade kitchen with an 8’x10’ walk-in refrigerator. The Property offers the unique opportunity for an owner user to reposition the building, or the building can be reconfigured to support additional uses. The building has plumbing run to each individual room and there are no interior load bearing walls, so the floor plan can be easily reconfigured to adjust the interior layout. Additionally, each floor offers three distinct wings that can be adjusted to make separate sections with separate entrances, making it easier to lease the separate areas. The Property is well-located along Bunn Drive in the northern portion of Princeton and enjoys a heavily wooded and secluded interior lot with ample on-site parking and green space. 728 Bunn Drive is 1-mile from US Route 206, 2-miles from Nassau Street (NJ Route 27), and 3.5-miles from US Route 1, the area’s primary commercial and commuter corridors. Downtown Princeton is home to the world renowned Princeton University and offers an array of local businesses and amenities. The surrounding area is home to local schools and national retailers driving traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.