Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    239 New Rd Parsippany, NJ 07054

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Professional and medical office suites available for lease.

    Property size:
    7,500 SF
    Lot size:
    6.75 Acres

    Property Features for 239 New Rd

    General Information

    Size
    7,500 SF
    Lot size
    6.75 Acres

    We can help!

    Listing Contact
    Juan Disla
    Source: Moodyscre

    Listing Agent: Juan Disla

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

    Learn more

    Property Insight Report

    Overview

    Professional and Medical Office Space

    This property offers 20,025 square feet of professional and medical office space. Suites ranging from approximately 180 to 7,500 square feet are available. The landlord is willing to paint and re-carpet to suit tenant needs. The layout includes a reception area, conference room, training rooms, and kitchenette. The building is equipped with an elevator and provides parking for over 60 cars.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Blue Lily Wedding Souvenir Shop Tri Star Flooring ... Wood Floor Installation Service Network Commodities Seafood Wholesaler Dinamik LLC Attorney Dawkins & Warrington Law ... Consultant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Parsippany
    County
    Morris
    State
    New Jersey
    Longitude
    -74.3465602
    Latitude
    40.8525123

    Nearby Similar for Lease

    • Contact for pricing
      70,567 SF

      Parsippany-Troy Hills Office Suite

      Executive office suite with highway access and ample parking.
      140 Littleton Rd, Parsippany, NJ 07054
      View Details
    • $1,100 /Mo

      Mountain Lakes Office Space Available

      Two-room office space for rent in Mountain Lakes, NJ.
      Lakes Boro Mtn, Parsippany, NJ 07054
      View Details
    • $2,600 /Mo
      30,928 SF

      Mountain Lakes Boro Office Space

      Lower level office space with conference area and private offices.
      Lakes Boro Mtn, Parsippany, NJ 07054
      View Details
    • $400 /Mo

      Office Space in Mountain Lakes

      One-room office space available in a professional building for rent.
      Lakes Boro Mtn, Parsippany, NJ 07054
      View Details
    • $750 /Mo

      Mountain Lakes Boro Office Space

      One-room office space available in professional building, Mountain Lakes Boro.
      Lakes Boro Mtn, Parsippany, NJ 07054
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      Modern, versatile space in a high-visibility Parsippany location.
      Rte 46 & Waterview Blvd, Parsippany, NJ 07054
      View Details
    • Contact for pricing
      1,912 SF

      Parsippany Office Building For Rent

      Three-story office building with renovated common areas and modern amenities.
      299 Cherry Hill Rd, Parsippany, NJ 07054
      View Details
    • $18 SF/Yr
      4,359 SF

      Parsippany Office Building For Lease

      56,156 SF office building with renovated common areas.
      2 Sylvan Way, Parsippany, NJ 07054
      View Details
    • $1,800 /Mo
      400,000 SF

      Therapy/Salon Space in Parsippany

      Prime 800 SF therapy/salon space within Envy Sports Club.
      199 Smith Rd, Parsippany, NJ 07054
      View Details
    • $23 SF/Yr
      56,455 SF

      Executive Office Space in Parsippany, NJ

      Class B Office Building, 3 Suites Available
      7 Entin Rd, Parsippany-Troy Hills, NJ 07054
      View Details
    • $20 SF/Yr

      Renovated Office/Medical/Retail Sublet on Rt 46

      Newly renovated office/medical/retail sublet on highly trafficked Rt 46.
      1116 Us Highway 46, Parsippany, NJ 07054
      View Details
    • $26 SF/Yr
      2,506 SF

      Spacious Parsippany Office Building

      LEED-certified office building with modern amenities and excellent highway access.
      5 Woodhollow Rd, Parsippany, NJ 07054
      View Details

    FAQs

    What type of property is this?
    Medical office - Professional and medical office suites available for lease.
    Where is this medical office located?
    The property is located at 239 New Rd Parsippany, NJ.
    What are key features of this property?
    This property features: - Suites available from ±180 - 7,500 SF, offering flexible space options.; - Suitable for professional and medical office use.; - Landlord will paint and re-carpet to suit, allowing for customization.
    (973) 379-6644
    Request Owner's contact information
    239 New Rd Parsippany, 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.
    239 New Rd
    Parsippany, 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
    239 New Rd Parsippany, 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
    Juan Disla
    Real Estate License ID: NJ 0342515
    (973) 379-6644
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.