Office Condominium with Private
For Sale
$219,000
115 Us Highway 46 #D28, Mountain Lakes, NJ 07046
The suite includes four enclosed offices, a reception area, a kitchenette, and a private restroom.
Property Size1,234 SF
Price / SF$177.47
Days on Market213
Property Features for 115 Us Highway 46 #D28
General Information
Standard status
Active
Size
1,234 SF
Property subtype
Commercial
Zoning
OL-2
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Building Details
Building Size
1,234 SF
Year Built
2000
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Keller Williams - Nj Metro Group
(973) 783-7400
Listed By:
Cheryl Darmanin · License #111786,NEWJERSEY
(973) 783-4000
Source:
Cammarotarealestate
Added: Mar 24
Changed: Oct 22
Last Checked: Oct 22 at 2:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams - Nj Metro Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,234-square-foot office condominium is located in Mountain Lakes Business Park in Mountain Lakes, New Jersey. Its layout includes four private offices, a reception and waiting area, a kitchenette, and a private restroom. The building dates to 2000, and the unit is zoned OL-2. It is currently occupied by a tenant.
The property is at 115 Route 46, with access to I-80, I-287, and I-280. On-site parking serves tenants and visitors.
The property is at 115 Route 46, with access to I-80, I-287, and I-280. On-site parking serves tenants and visitors.
Key Highlights
- 1,234‑square‑foot office condominium
- Four private offices, reception and waiting area, kitchenette, and private restroom
- Currently occupied by a tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,880
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$377,600
$377.6K
Cap Rate 7%
$269,714
$269.7K
Cap Rate 9%
$209,778
$209.8K
Market Conditions
NOI Build-Up for 1,234 SF
Gross rent
$37.0K $30.00/SF
− Vacancy
−$11.8K −$9.60/SF
EGI
$25.2K $20.40/SF
− OpEx
−$6.3K −$5.10/SF
NOI
$18.9K $15.30/SF
Area
Morris County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$377,600
Cap Rate 7%
$269,714
Cap Rate 9%
$209,778
Alternative Uses
Best Use
Office B
$269.7K
$236.0K – $314.7K
NOI $18,880 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.2K
$282.0K – $375.9K
NOI $22,556 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 07046, NJ
4,508
Population
1,451
Households
3.1
Avg Household Size
41
Median Age
84%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
1,670
Density / Sq Mi
$250,001
Median Household Income
$127,604
Median Earnings
$2,941
Median Rent
$915,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The suite includes four enclosed offices, a reception area, a kitchenette, and a private restroom.
Where is this office unit located?
The property is located at 115 Us Highway 46 #D28 Mountain Lakes, NJ.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 1,234‑square‑foot office condominium; Four private offices, reception and waiting area, kitchenette, and private restroom; Currently occupied by a tenant
