Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    959 S 46 Parsippany Troy Hills, NJ 07054

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space with excellent access to transportation and amenities.

    We can help!

    Listing Contact
    Daniel Casey
    Source: Cbre

    Listing Agent: Daniel Casey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Accessible Office Space in Parsippany

    This office space in Parsippany offers convenient access to four airports, Amtrak connections, and major bus lines. It is located 28 miles from New York City. The property benefits from a highly visible location and provides 24-hour, 7-day access. On-site amenities include a full-service cafe and corporate catering. The building features a dramatic lobby with a two-story atrium. Situated between I-80 and Route 46, the location is also minutes from the Garden State Parkway, New Jersey Turnpike, and Interstates 280 and 287.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Parsippany Troy Hills
    County
    Morris
    State
    New Jersey
    Longitude
    -74.3996
    Latitude
    40.8553

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Parisipanny

      Discover many ways to work your way in Democracy Plaza
      2001 Parsippany New Jersey United States Of America 07054, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing

      Parsippany Office Space Available

      Office space for rent in a highly amenitized Parsippany building.
      379 Interpace Pkwy, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing
      33,817 SF

      Class A Office Park

      544,000 SF office park with amenities and highway access.
      1 Upper Pond Rd, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing
      12,461 SF

      Parsippany Office Space For Lease

      Office space available for lease in Parsippany, New Jersey.
      7 Sylvan Way, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing
      21,424 SF

      Parsippany Office Space Available

      Office space available in a highly amenitized Parsippany building.
      369 Interpace Pkwy, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing

      Parsippany Road Office Space

      Office space available for rent in Parsippany-Troy Hills, NJ.
      50 Parsippany Rd, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing
      34,329 SF

      Retail Space in Parsippany-Troy Hills

      Highly visible retail location with affluent demographics and high traffic.
      3165 Us 46, Parsippany Troy Hills, NJ
      View Details
    • $18 SF/Yr
      5,867 SF

      Parsippany-Troy Hills Office Space

      Three-story, 39,000 SF office building for lease.
      3799 Route 46, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing
      1,587 SF

      Modern Office Space in Parsippany

      Updated office space with amenities and convenient highway access.
      6 Century Dr, Parsippany Troy Hills, NJ 07054
      View Details
    • Contact for pricing
      35,000 SF

      Parsippany-Troy Hills Office Space

      35,000 SF office space available for rent.
      100 Kimball Dr, Parsippany Troy Hills, NJ 07054
      View Details
    • $26 SF/Yr
      142,077 SF

      Parsippany-Troy Hills Office Space

      Modern office building with fitness center and conferencing facilities.
      5 Wood Holw Rd, Parsippany Troy Hills, NJ 07054
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with excellent access to transportation and amenities.
    Where is this office units located?
    The property is located at 959 S 46 Parsippany Troy Hills, NJ.
    What are key features of this property?
    This property features: - Direct and quick access to four airports, Amtrak, and major bus lines.; - Highly visible location.; - 24 hour/7 day access.
    Request Owner's contact information
    959 S 46 Parsippany Troy Hills, NJ 07054
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    959 S 46
    Parsippany Troy Hills, NJ 07054
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    959 S 46 Parsippany Troy Hills, NJ 07054
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Daniel Casey
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!