Office
New
For Sale
$4,145,000
13 Emery Ave, Randolph, NJ 07869
The property is an office building constructed in 1982.
Property Size18,243 SF
Price / SF$227.21
Days on Market1
Property Features for 13 Emery Ave
General Information
Standard status
Active
Size
18,243 SF
Property subtype
Single-Tenant Office
Additional Details
Property Use
Career Center
Amenities
State of New Jersey Credit Tenant – Leased to The State of New Jersey, Providing Exceptional Government-Backed Tenant Credit and Income Stability.
Established Government Occupancy – Home to the Morris County One-Stop Career Center, Serving The Community Through Essential Workforce and Employment Services.
Rare Land-Backed Investment Opportunity – Existing 18,243 Square Foot Office Building Offers Investors Current Income with Potential Future Industrial Redevelopment or Repositioning.
Building Details
Building Size
18,243 SF
Year Built
1982
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Alan Cafiero · License #License(s): NJ: 0791092
(201) 742-6118
Source:
Marcusmillichap
Added: Nov 1
Last Checked: Nov 1 at 3:13PM
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
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Investment Insights
Based on property information with market context.
Located at 13 Emery Ave in Randolph, New Jersey, this office building contains 18,243 square feet. It was constructed in 1982.
Key Highlights
- 18,243‑square‑foot office building
- Built in 1982
- Located at 13 Emery Ave, Randolph, NJ 07869
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$279,118
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,582,360
$5.6M
Cap Rate 7%
$3,987,400
$4.0M
Cap Rate 9%
$3,101,311
$3.1M
Market Conditions
NOI Build-Up for 18,243 SF
Gross rent
$547.3K $30.00/SF
− Vacancy
−$175.1K −$9.60/SF
EGI
$372.2K $20.40/SF
− OpEx
−$93.0K −$5.10/SF
NOI
$279.1K $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%
$5,582,360
Cap Rate 7%
$3,987,400
Cap Rate 9%
$3,101,311
Alternative Uses
Best Use
Office B
$3.99M
$3.49M – $4.65M
NOI $279,118 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.76M
$4.17M – $5.56M
NOI $333,453 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 07869, NJ
25,993
Population
9,124
Households
2.8
Avg Household Size
41
Median Age
69%
College-Educated
96%
High-School Grad
20.1 sq mi
ZIP Area
1,293
Density / Sq Mi
$170,862
Median Household Income
$80,799
Median Earnings
$1,772
Median Rent
$636,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - The property is an office building constructed in 1982.
Where is this office building located?
The property is located at 13 Emery Ave Randolph, NJ.
What is the asking price?
The asking price for this property is $4,145,000.
What are key features of this property?
This property features: 18,243‑square‑foot office building; Built in 1982; Located at 13 Emery Ave, Randolph, NJ 07869
