Freestanding Professional Office
For Sale
$728,000
1711 Route 46, Parsippany, NJ 07054
Freestanding office building suitable for multiple users or investors.
Property Size3,000 SF
Price / SF$242.67
Days on Market146
Property Features for 1711 Route 46
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,618
Amenities
Central air
Asphalt Shingle Roof
2 Car Width
4+ Units Cooling
4+ Units Heating
Baseboard - Electric Heating
Blacktop Driveway
Corner
Level Lot
Off-Street Parking
Parking Lot-Exclusive
Building Details
Year Built
1850
Listing Agency:
ARCADIA, REALTORS
(973) 228-7060
Listed By:
RICHARD N LEONARD
Source:
Corcoran
Added: Apr 8
Changed: Aug 27
Last Checked: Aug 30 at 7:44PM
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 ARCADIA, REALTORS
Investment Insights
Based on property information with market context.
This is a freestanding professional office building. The previous occupant, an accounting office, utilized the building for 25 years. The building is in very good condition. The property size is approximately 3000 square feet. The first floor is designed to accommodate two users, each with exterior access. The property may suit alternative uses for investors or users.
Key Highlights
- Free‑standing professional office building.
- Building in very good condition.
- First floor suitable for two users with exterior access.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,900
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$918,000
$918.0K
Cap Rate 7%
$655,714
$655.7K
Cap Rate 9%
$510,000
$510.0K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$90.0K $30.00/SF
− Vacancy
−$28.8K −$9.60/SF
EGI
$61.2K $20.40/SF
− OpEx
−$15.3K −$5.10/SF
NOI
$45.9K $15.30/SF
Area
Morris County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$918,000
Cap Rate 7%
$655,714
Cap Rate 9%
$510,000
Alternative Uses
Best Use
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 07054, NJ
30,228
Population
12,497
Households
2.4
Avg Household Size
41
Median Age
61%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,190
Density / Sq Mi
$107,955
Median Household Income
$69,061
Median Earnings
$1,725
Median Rent
$569,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building suitable for multiple users or investors.
Where is this office building located?
The property is located at 1711 Route 46 Parsippany, NJ.
What is the asking price?
The asking price for this property is $728,000.
What are key features of this property?
This property features: Free‑standing professional office building.; Building in very good condition.; First floor suitable for two users with exterior access.
