Medical Office Building with Long-Term
For Sale
Contact for pricing
50 Cherry Hill Rd, Parsippany Troy Hills, NJ 07054
Large medical office building with 81% of tenants in suites for over 25 years and recent capital improvements.
Property Size27,540 SF
Days on Market134
Property Features for 50 Cherry Hill Rd
General Information
Standard status
Active
Size
27,540 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Listing Agency:
CBRE - Saddle Brook
Listed By:
Fahri Ozturk · License #NJ 1430421
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 5:28AM
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 CBRE - Saddle Brook
Investment Insights
Based on property information with market context.
50 Cherry Hill Road is a medical office building totaling 27,540 square feet at the intersection of Route 46 and Cherry Hill Road in Parsippany. The property has historically high occupancy, with a current weighted average lease term of 4.1 years, and 81% of building tenants have occupied their suites for over 25 years. Recent capital expenditures of $275,000 over the last three years include upgrades to the HVAC systems, elevators, common areas, and exterior finishes.
The building is positioned across the street from a CVS Pharmacy and is in close proximity to St. Claire’s Hospital in Denville and Morristown Medical Center. It is also less than a mile from Waterview Marketplace, which includes Whole Foods, Shake Shack, Homesense, and Ulta Beauty.
With access to major roadways including Routes 46, Interstate-80, and Interstate-287, the site is located about 30 miles from New York City.
The building is positioned across the street from a CVS Pharmacy and is in close proximity to St. Claire’s Hospital in Denville and Morristown Medical Center. It is also less than a mile from Waterview Marketplace, which includes Whole Foods, Shake Shack, Homesense, and Ulta Beauty.
With access to major roadways including Routes 46, Interstate-80, and Interstate-287, the site is located about 30 miles from New York City.
Key Highlights
- 27,540 SF medical office building at the intersection of Route 46 and Cherry Hill Road in Parsippany.
- 81% of building tenants have occupied their suites for over 25 years; historically high occupancy reported.
- Current weighted average lease term of 4.1 years.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Large medical office building with 81% of tenants in suites for over 25 years and recent capital improvements.
Where is this medical office space located?
The property is located at 50 Cherry Hill Rd Parsippany Troy Hills, NJ.
What are key features of this property?
This property features: 27,540 SF medical office building at the intersection of Route 46 and Cherry Hill Road in Parsippany.; 81% of building tenants have occupied their suites for over 25 years; historically high occupancy reported.; Current weighted average lease term of 4.1 years.
