Medical Office
For Sale
$3,750,000
46 Eagle Rock Ave, East Hanover, NJ 07936
Medical office property for sale at 46 Eagle Rock Ave in East Hanover, New Jersey.
Property Size11,250 SF
Price / SF$333.33
Days on Market31
Property Features for 46 Eagle Rock Ave
General Information
Standard status
Active
Size
11,250 SF
Property subtype
Single-Tenant Office Medical
Lease Type
NNN
Amenities
Triple Net Lease Structure
Attractive Annual Rental Increases
Dense Population with High Income Metrics
Building Details
Building Size
11,250 SF
Listing Agency:
Marcus & Millichap | New Jersey
(201) 742-6100
Listed By:
Jim McGuckin · License #License(s) NJ: 2082114
(201) 742-6100
Source:
Marcusmillichap
Added: Jul 17
Changed: Aug 8
Last Checked: Aug 16 at 3:01AM
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 Marcus & Millichap | New Jersey
Investment Insights
Based on property information with market context.
This medical office building is offered for sale as a commercial property that supports office and medical use. The offering is listed at $3,750,000 and includes 11,250 square feet.
The property is located at 46 Eagle Rock Ave in East Hanover, New Jersey (07936).
While specific suite configuration and interior improvements are not detailed in the provided information, the asset is presented as office/medical real estate suitable for professional use in a suburban setting.
The property is located at 46 Eagle Rock Ave in East Hanover, New Jersey (07936).
While specific suite configuration and interior improvements are not detailed in the provided information, the asset is presented as office/medical real estate suitable for professional use in a suburban setting.
Key Highlights
- Medical office property for sale at 46 Eagle Rock Ave in East Hanover, NJ.
- 7.77% noted in the property remarks.
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
$172,125
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
4.59%
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%
$3,442,500
$3.4M
Cap Rate 7%
$2,458,929
$2.5M
Cap Rate 9%
$1,912,500
$1.9M
Market Conditions
NOI Build-Up for 11,250 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
$337.5K $30.00/SF
− Vacancy
−$108.0K −$9.60/SF
EGI
$229.5K $20.40/SF
− OpEx
−$57.4K −$5.10/SF
NOI
$172.1K $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%
$3,442,500
Cap Rate 7%
$2,458,929
Cap Rate 9%
$1,912,500
Alternative Uses
Best Use
Office B
$2.46M
$2.15M – $2.87M
NOI $172,125 @ 7.0% cap · market cap 4.59%
Second Best
Healthcare Medical
$2.39M
$2.09M – $2.79M
NOI $167,508 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,632 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07936, NJ
11,105
Population
4,162
Households
2.7
Avg Household Size
48
Median Age
55%
College-Educated
95%
High-School Grad
7.9 sq mi
ZIP Area
1,406
Density / Sq Mi
$144,792
Median Household Income
$73,048
Median Earnings
$2,745
Median Rent
$668,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Veterinary Center of Morris County — 33 Eagle Rock Ave, East Hanover, NJ 07936
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property for sale at 46 Eagle Rock Ave in East Hanover, New Jersey.
Where is this medical office space located?
The property is located at 46 Eagle Rock Ave East Hanover, NJ.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Medical office property for sale at 46 Eagle Rock Ave in East Hanover, NJ.; 7.77% noted in the property remarks.
