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    161-163 Madison Ave Morristown, NJ 07631

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    For Lease
    $27 SF/Yr

    Office spaces available in Morristown with complex amenities.

    Property size:
    88,182 SF
    Lot size:
    88,182 SF

    Property Features for 161-163 Madison Ave

    General Information

    Size
    88,182 SF

    Source: Suzanne Kiall Agent Suzanne Kiall

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

    Overview

    Morristown Office Space for Rent

    Located on Madison Avenue in Morristown, the property offers office spaces for rent. The total building square footage is 33,921 square feet at 161 Madison Avenue and 88,182 square feet at 163 Madison Avenue. Available spaces at 163 Madison Avenue include 4,033 square feet on the 1st floor and 4,340 square feet on the 2nd floor. The asking rental rate is $27 per square foot, plus tenant expenses. Complex amenities include a high-end grab-and-go cafe, fitness center, conferencing center, on-site maintenance, outdoor plaza seating, and on-site banking (PNC Bank). Common area renovations are complete, and the cafe is open. The location provides access to shopping, banking, and restaurants. It also offers direct access to Routes 287, 24, 202, and 10, and is minutes from Morristown and Convent Train Stations, as well as walking distance to Morristown Medical Center. Travel times include 34 minutes to the Holland Tunnel, 24 minutes to Newark Liberty International Airport, and 5 minutes to Morristown Airport.
    Location Intelligence

    Current Use by Public Records

    Morristown Plaza Business Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4588168
    Latitude
    40.7884436

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    FAQs

    What type of property is this?
    Office space - Office spaces available in Morristown with complex amenities.
    Where is this office space located?
    The property is located at 161-163 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 direct access to major routes.; - Extensive complex amenities including a high-end grab-and-go cafe, fitness center, and conferencing center.; - Significant total building square footage.
    (973) 886-3687
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    161-163 Madison Ave Morristown, NJ 07631
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    Realmo Value Estimation

    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.

    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.

    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
    161-163 Madison Ave Morristown, NJ 07631
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