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
    The Largest CRE Database in the US with Over 1 Million Listings

    477 Martinsville Rd Basking Ridge, NJ 07920

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

    Trophy office building with full-service cafeteria and fitness center.

    Property size:
    57,857 SF
    Lot size:
    34.61 Acres

    Property Features for 477 Martinsville Rd

    General Information

    Size
    57,857 SF
    Lot size
    34.61 Acres

    We can help!

    Listing Contact
    Larry Martin
    Larry Martin
    Source: Moodyscre

    Listing Agent: Larry Martin

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

    Learn more

    Property Insight Report

    Overview

    Prestigious Basking Ridge Office Building

    This trophy office building is located in prestigious Basking Ridge. The property features a four-story atrium lobby, a full-service cafeteria with a 150-seat dining room, a fitness center with locker rooms, and a conferencing facility with seating for 100. Convenient below-grade garage parking is available. The property size is 57857 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Summit Bank Bank Mt Mc Kinley ... Insurance Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Basking Ridge
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.578283
    Latitude
    40.645553

    Nearby Similar for Lease

    • $26 SF/Yr
      60,806 SF

      Retail Space in Highlands Village

      Retail space for lease in established shopping center.
      554-556 Allen Rd, Basking Ridge, NJ 07920
      View Details
    • $3,000 /Mo

      Historic Triplex End Unit Rental

      Charming 3BR triplex unit with in-town convenience and shared amenities.
      37 E Oak St, Basking Ridge, NJ 07920
      View Details
    • $4,500 /Mo

      Furnished Ranch Home Near Schools

      Charming, furnished ranch in desirable Basking Ridge neighborhood, convenient location.
      29 Forest Trl, Basking Ridge, NJ 07920
      View Details
    • $22 SF/Yr
      16,332 SF

      Regus Mt. Airy Interchange Office Suites

      Class A Office Space in Basking Ridge, NJ
      233 Mt. Airy Rd, Basking Ridge, NJ 07920
      View Details
    • $26 SF/Yr
      3,142 SF

      Retail Space in Basking Ridge

      Retail space available in a busy shopping center.
      Allen Rd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing

      Basking Ridge Office Space Available

      Office space for rent in Basking Ridge, New Jersey.
      Basking Ridge, NJ 07920
      View Details
    • $20 SF/Yr
      2,182 SF

      Upscale Retail Space For Lease

      Upscale village square shopping center with retail and office space.
      403 King George Rd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      18,000 SF

      Basking Ridge Office Space Available

      18,000 SF office space for rent in Basking Ridge.
      150 Mount Airy Rd, Basking Ridge, NJ 07920
      View Details
    • $1,995 /Mo

      Office Space with Private Offices

      Office space featuring private offices, kitchen, and private lavatory.
      21 Church St, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      42,000 SF

      Furnished Office Space Available

      Furnished office space with highway access in Basking Ridge.
      73 Mountainview Blvd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      115,406 SF

      Interconnected Office Buildings For Rent

      Two-story office buildings with cafeteria near Route 287.
      131 Morristown Rd, Basking Ridge, NJ 07920
      View Details
    • Contact for pricing
      2,268 SF

      Retail Space in Basking Ridge

      Retail space available in a wealthy Basking Ridge neighborhood.
      19 Stonehouse Rd, Basking Ridge, NJ 07920
      View Details

    FAQs

    What type of property is this?
    Office building - Trophy office building with full-service cafeteria and fitness center.
    Where is this office building located?
    The property is located at 477 Martinsville Rd Basking Ridge, NJ.
    What are key features of this property?
    This property features: - Prestigious Basking Ridge location; - **Four story atrium lobby**; - Full-service cafeteria with 150 seat dining room
    (201) 528-4400
    Request Owner's contact information
    477 Martinsville Rd Basking Ridge, NJ 07920
    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.
    477 Martinsville Rd
    Basking Ridge, NJ 07920
    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
    477 Martinsville Rd Basking Ridge, NJ 07920
    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
    Larry Martin
    Larry Martin
    Real Estate License ID: 9587238
    (201) 528-4400
    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.