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

    31 Fairmount Ave Chester, NJ 07930

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-story office building with on-site parking in affluent Chester.

    Property size:
    11,308 SF

    Property Features for 31 Fairmount Ave

    General Information

    Size
    11,308 SF

    We can help!

    Listing Contact
    Thomas Scatuorchio
    Source: Kislakrealty

    Listing Agent: Thomas Scatuorchio

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

    Learn more

    Overview

    Two-Story Office Building with Parking

    This two-story brick office building offers 11,308 square feet of space and includes on-site parking. The property is located a four-minute drive from Route 206 and a ten-minute drive from the NJ Transit Gladstone train station. Situated in historic Chester, one of Morris County's most affluent communities, the building lies between Mendham, Bedminster, Tewksbury, and Long Valley. The property is a stabilized multi-tenant office asset featuring a strong base of professional tenants and diversified income streams. A value-add lease-up opportunity exists with two vacant suites totaling 2,255 square feet, offering an immediate path to increased cash flow. The property features an attractive rent roll with several long-term tenants and staggered expirations through 2035, reducing rollover risk. A low operating cost structure, including modest utilities, a septic system, and efficient management, drives healthy margins. Solar revenue enhances income stability and offsets operating expenses.
    Location Intelligence

    Current Use by Public Records

    Rise Above LLC Mental Health Service Gomeringer Joseph CPA Accountant Hyde and Associates, LLC Certified Public Accountant Yari’s Angels Home ... Home Health Care Service Chester Limo NJ Transportation Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Morris
    State
    New Jersey
    Longitude
    -74.6822209
    Latitude
    40.787855

    Nearby Similar for Sale

    • $349,900
      8,000 SF

      Corner Office Condo For Sale

      High visibility office condo with conference area, kitchenette, and parking.
      2 North Rd, Chester, NJ 07930
      View Details
    • Contact for pricing
      3,000 SF

      Fully Leased Office Suites

      Prime investment opportunity in Chester, NJ with steady tenant base.
      310 State Route 24, Chester, NJ 07930
      View Details
    • Contact for pricing
      2,630 SF

      Restaurant Building with Drive-Thru

      2,630 SF restaurant building with three-lane drive-thru.
      510 Main St, Chester, NJ 07930
      View Details
    • $182,000

      Office Space in Chester Woods

      Office space featuring reception, offices, restrooms, and conference room.
      385 Rte, Chester, NJ 07930
      View Details
    • Contact for pricing
      0.60 Acres

      Chester Main Street Commercial Space

      Prime Chester location, versatile storefront.
      28 Main St, Chester, NJ 07930
      View Details
    • $374,900
      8,000 SF

      Prime Chester Office Condo

      High-visibility office space, excellent location.
      2 North Rd, Chester, NJ 07930
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building with on-site parking in affluent Chester.
    Where is this office building located?
    The property is located at 31 Fairmount Ave Chester, NJ.
    What are key features of this property?
    This property features: - Stabilized multi-tenant office asset with a strong base of professional tenants and diversified income streams.; - Value-add lease-up opportunity with two vacant suites (2,255 SF combined), offering immediate path to increased cash flow.; - Attractive rent roll with several long-term tenants and staggered expirations through 2035, reducing rollover risk.
    (908) 675-5703
    Request Owner's contact information
    31 Fairmount Ave Chester, NJ 07930
    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.
    31 Fairmount Ave
    Chester, NJ 07930
    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
    31 Fairmount Ave Chester, NJ 07930
    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
    Thomas Scatuorchio
    (908) 675-5703
    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.