Building Details

Building Size 11,250 SF

Listing Agency: Marcus & Millichap | New Jersey

Listed By: Jim McGuckin · License #License(s) NJ: 2082114 Show Phone

Source: Marcusmillichap

Added: Jul 17 Changed: Oct 5 Last Checked: Oct 5 at 3:03PM

Report an Issue

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.

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 / Yr

$172,125

Cap Rate

4.59%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $172,125 @ 7.0% cap · market cap 4.59%

Second Best

Healthcare Medical

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,508 @ 7.0% cap · market cap 4.47%

Theoretical Best

Office A

$2.94M

$2.57M – $3.43M (±1% cap)

NOI $205,632 @ 7.0% cap · market cap 5.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Michael J. Richard, ... Ophthalmologist EyeCare 20/20 Eye Care Center Nicholas Xanthos, OD Physician Eyecare 20-20: Eichler ... Ophthalmologist Cary Silverman, MD Ophthalmologist

Suggested Use

Top Pick Real Estate Agency Dental Office Auto Parts Store Storage Facility (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

314

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Medical Office Suite with Exam Rooms

49 Ridgedale Ave, East Hanover, NJ 07936

Contact for pricing

1,000 SF

View details

Light Industrial Manufacturing Facility

43 West St, East Hanover, NJ 07936

Contact for pricing

40,000 SF

View details

Flex Space with Drive-In Loading

14 West St, East Hanover, NJ 07936

Contact for pricing

2,000 SF

View details

Country-Style Garden Center

96 River Rd, East Hanover, NJ 07936

Contact for pricing

View details

Similar Off Market Nearby

• Grooming Shop at Veterinary Center of Morris County — 33 Eagle Rock Ave, East Hanover, NJ 07936
• Veterinary Center of Morris County — 33 Eagle Rock Ave, East Hanover, NJ 07936

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.