Sign Up Successful!
You now have access to more from Realmo!
    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

    163 Madison Ave Morristown, NJ 07960

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $27 SF/Yr ($9,765 /Mo)

    Office space for rent on Madison Avenue in Morristown.

    Property size:
    4,340 SF
    Lot size:
    6.73 Acres

    Property Features for 163 Madison Ave

    General Information

    Size
    4,340 SF
    Lot size
    6.73 Acres

    We can help!

    Listing Contact
    Suzanne Kiall
    Source: Moodyscre

    Listing Agent: Suzanne Kiall

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

    Learn more

    Overview

    Morristown Office Space on Madison

    This office space is located on Madison Avenue in Morristown, providing convenient access to shopping, banking, and restaurants. The location offers direct access to Routes 287, 24, 202, and 10, and is situated minutes from both Morristown and Convent Train Stations. Morristown Medical Center is within walking distance. The property is located 34 minutes from the Holland Tunnel, 24 minutes from Newark Liberty International Airport, and 5 minutes from Morristown Airport. The property includes a high-end grab-and-go cafe, a fitness center, a conferencing center, on-site maintenance, outdoor plaza seating, and on-site banking provided by PNC Bank. The property offers 4,340 square feet of office space.
    Location Intelligence

    Current Use by Public Records

    Beacon Trust Company Bank Donnelly Minter & Kelly, ... Attorney Milvidskiy Law Group ... Estate Planning Attorney David M. Blackwell, ... Attorney Chipperson Law Group, ... Patent Attorney

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office 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
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4584683
    Latitude
    40.7880948

    Nearby Similar for Lease

    • $1,000 /Mo
      3,485 SF

      Morristown Professional Office Space

      First floor office space near downtown Morristown for lease.
      13.5 James St, Morristown, NJ 07960
      View Details
    • $1,950 /Mo

      Office Space in Morris Twp.

      Well-kept office space with media room and separate suites.
      39 E Hanover Ave, Morristown, NJ 07960
      View Details
    • New
      $800 /Mo
      6,098 SF

      Morristown Town First-Floor Office Space

      First-floor office space for rent near Morristown Green.
      5 Maple Ave, Morristown, NJ 07960
      View Details
    • $25 SF/Yr
      1,683 SF

      Medical/Office Condominium Near Morristown

      Premier medical/office condominium in Harding Township's 'Country Mile'.
      1201 Us-202, Morristown, NJ
      View Details
    • $27 SF/Yr
      88,182 SF

      Morristown Office Space for Rent

      Office spaces available in Morristown with complex amenities.
      161-163 Madison Ave, Morristown, NJ 07631
      View Details
    • $4,200 /Mo

      Remodeled Apartment Near Downtown Morristown

      Newly remodeled 2BR apartment near downtown Morristown's shops and restaurants.
      75 Chestnut St, Morristown, NJ 07960
      View Details
    • $2,800 /Mo

      Charming Morristown Apartment with Basement

      First-floor, 2-bedroom apartment near downtown Morristown with private basement.
      48 Budd St, Morristown, NJ 07960
      View Details
    • $50 SF/Yr
      39,000 SF

      Morristown Mews: Prime Commercial Space

      Historic Morristown mixed-use building, retail & office.
      14 Washington St, Morristown, NJ 07960
      View Details
    • Contact for pricing
      56,016 SF

      Morristown Office Space for Lease

      Office space available in Morristown, New Jersey with many amenities.
      10 Park Ave, Morristown, NJ 07960
      View Details
    • Contact for pricing
      3,042 SF

      Morristown Retail Space For Lease

      High-visibility retail space in the heart of Morristown, New Jersey.
      10 N Park Pl, Morristown, NJ 07960
      View Details
    • $29 SF/Yr
      35,000 SF

      Morristown Office Space For Lease

      Office space available with facade and amenity improvements.
      44 Whippany Rd, Morristown, NJ 07960
      View Details
    • $650 /Mo

      Morristown Office Space For Rent

      Office suites near NYC train, utilities included, garden patio.
      14 Pine St, Morristown, NJ 07960
      View Details

    FAQs

    What type of property is this?
    Office space - Office space for rent on Madison Avenue in Morristown.
    Where is this office space located?
    The property is located at 163 Madison Ave Morristown, NJ.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: - Premier Madison Avenue location in Morristown with access to shopping, banking, and restaurants.; - Direct access to Routes 287, 24, 202 & 10, and proximity to Morristown and Convent Train Stations.; - Enjoy on-site amenities including a high-end grab-and-go cafe, fitness center, and conferencing center.
    (973) 886-3687
    Request Owner's contact information
    163 Madison Ave Morristown, NJ 07960
    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.
    163 Madison Ave
    Morristown, NJ 07960
    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
    163 Madison Ave Morristown, NJ 07960
    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
    Suzanne Kiall
    (973) 886-3687
    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.