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

    352 State Rte 10 Whippany, NJ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    New retail space near corporate headquarters with high employee density.

    Type:RETAIL
    Property size:
    1,583 SF
    Lot size:
    0.71 Acres
    Added:
    Apr 24, 2024
    Days on Market:
    736
    Last Refresh:
    Apr 5 at 11:17 pm

    Property Features for 352 State Rte 10

    General Information

    Standard status
    Active
    Size
    1,583 SF
    Lot size
    0.71 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 352 State Rte 10 Contact us

    We can help!

    Listing Contact
    Matt Grundy

    Listing agent Matt Grundy

    Listing office RIPCO Real Estate - New Jersey

    Listing date Apr 24, 2024

    Source Moodyscre

    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 RIPCO Real Estate - New Jersey

    Overview

    New Construction Retail Space Available

    This new construction retail space is located at a traffic light intersection with full turning access. The property is situated near several large corporate headquarters, including Bayer Healthcare Headquarters with 2,400 employees, Metlife Corporation with 900 employees, Novartis Pharmaceuticals Corporate Headquarters with 4,800 employees located 2.4 miles away, and Barclay’s Investment Banking Office with 2,000 employees located 3 miles away. A consumption liquor license is available for the 1,583-square-foot retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Whippany
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4084
    Latitude
    40.8213

    Nearby Similar for Lease

    • $23 SF/Yr

      Whippany Office Space For Rent

      Two 3-story buildings with flexible floor plates and ample parking.
      110 S Jefferson Rd, Whippany, NJ
      View Details
    • $21 SF/Yr

      Whippany Office Suite For Rent

      Spacious office suite featuring private offices, reception, and conference room.
      760 State Route 10, Whippany, NJ
      View Details
    • $24 SF/Yr

      Whippany Office Space Available

      Office space available for lease in Whippany, New Jersey.
      575 State Route 10, Whippany, NJ
      View Details
    • $24 SF/Yr

      Whippany Office Space For Rent

      Flexible office space in a park-like setting near major routes.
      100 S Jefferson Rd, Whippany, NJ
      View Details
    • Contact for pricing

      Whippany Warehouse and Distribution Space

      72,000 SF industrial building suitable for warehousing and distribution.
      29 S Jefferson Rd, Whippany, NJ
      View Details
    • Contact for pricing

      Industrial Development Near Routes 287/80

      Under construction: 72,000 SF industrial space on 6.6 acres.
      Whippany, NJ 07981
      View Details
    • Contact for pricing

      Industrial Space with Office

      15,200 SF industrial space with 2,561 SF office.
      156 Algonquin Pkwy, Whippany, NJ
      View Details
    • $3,175/Mo

      Whippany Flex Space For Rent

      1950 SF flex space with air conditioning and drive-in.
      53 S Jefferson Rd, Whippany, NJ
      View Details
    • Contact for pricing

      Crosspointe Technology Center Lab Space

      Lab space available for sale or lease in Whippany, NJ.
      941 State Rte 10, Whippany, NJ
      View Details
    • Contact for pricing

      Whippany Warehouse Space Available

      10,150 SF warehouse space with offices to suit.
      1 Apollo Dr, Whippany, NJ
      View Details
    • Contact for pricing

      Hanover Retail/Office Space Available

      Retail and office spaces for lease in Hanover, New Jersey.
      352 Route 10, Hanover, NJ 07981
      View Details
    • Contact for pricing

      Professionally Updated Office Building

      Updated office building with multiple suites available for immediate occupancy.
      760 NJ-10, Hanover, NJ 07981
      View Details

    FAQs

    What type of property is this?
    Retail space - New retail space near corporate headquarters with high employee density.
    Where is this retail space located?
    The property is located at 352 State Rte 10 Whippany, NJ.
    What are key features of this property?
    This property features: High‑traffic location at a traffic light intersection with full turning access.; Consumption liquor license available.; Close proximity to Bayer Healthcare Headquarters (2,400 employees) and Metlife Corporation (900 employees).
    (201) 777-2300 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Grundy
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!