Freestanding Building on High-Traffic
500 Route 10 Whippany, NJ 07981
For Sale
$1,400,000
Pending
8,000+/- SF building on Route 10 with high visibility.
Property Size8,000 SF
Lot Size0.46 Acres
Days on Market1184
Property Features for 500 Route 10
General Information
Standard status
Pending
Size
8,000 SF
Lot size
0.46 Acres
Property subtype
Commercial
Building Details
Year Built
9999
Listing Agency:
FATHOM REALTY NJ
(856) 344-4663
Listed By:
LOIS DECARO
Source:
Corcoran
Added: May 2, 2023
Changed: Jul 10
Last Checked: Jul 23 at 9:51AM
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 FATHOM REALTY NJ
Investment Insights
Based on property information with market context.
This is an 8,000 +/- square foot freestanding building situated in a high-traffic location on Route 10 at a traffic light intersection, offering excellent visibility. The property, once renovated, has the potential to become a showpiece, contributing to the town's history. Previously a bank, the building includes a vault and a drive-through that has been bricked. Its location provides close proximity to routes 80, 287, 280, 24, and 46. Plans, architectural drawings, and a survey are available. The property allows for the possibility of 28 parking spaces. Zoned B-10, the location permits many retail and office uses. The town is not allowing restaurant use. The buyer should verify all information, any remaining approvals needed, and permitted uses with the township.
Key Highlights
- Prime high traffic location at a traffic light intersection with great visibility on Rt. 10
- 8000 +/- square feet freestanding building suitable for renovation
- Close proximity to routes 80, 287, 280, 24, and 46
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.8k | $21.60 |
| − Vacancy | −$9.7k | −$1.21 |
| EGI | $163.1k | $20.39 |
| − OpEx | −$40.8k | −$5.10 |
| NOI | $122.3k | $15.29 |
8,000 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,342 @ 7.0% cap · market cap 8.74%
Second Best
Retail
$1.63M
$1.43M – $1.90M
NOI $114,186 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Bank - 8,000+/- SF building on Route 10 with high visibility.
Where is this bank located?
The property is located at 500 Route 10 Whippany, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Prime high traffic location at a traffic light intersection with great visibility on Rt. 10; 8000 +/- square feet freestanding building suitable for renovation; Close proximity to routes 80, 287, 280, 24, and 46
