Second-Floor Office Condo
For Sale
Contact for pricing
150 River Rd, Montville, NJ 18951
Second-floor office condo with an open area, private restroom, two window offices, and a copier/kitchenette room.
Property Size970 SF
Price / SF$170.10
Days on Market149
Property Features for 150 River Rd
General Information
Standard status
Active
Size
970 SF
Property subtype
Office
Building Details
Stories
1
Listing Agency:
Evergreen Commercial Real Estate
Listed By:
Sal Bellafiore · License #NJ 7832500
Source:
Crexi
Added: Apr 11
Changed: Aug 25
Last Checked: Sep 2 at 7:56PM
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 Evergreen Commercial Real Estate
Investment Insights
Based on property information with market context.
This second-floor office condo suite is laid out with an open area, a private restroom, two window offices, and a copier/kitchenette room. The space is configured to support a combination of collaborative and private work areas.
Ample parking is available, with easy access to Rte 80/287/46.
Offered for sale as an office condo, the unit provides a practical interior configuration for day-to-day office use, including dedicated restroom access and multiple enclosed offices alongside the open work area.
Ample parking is available, with easy access to Rte 80/287/46.
Offered for sale as an office condo, the unit provides a practical interior configuration for day-to-day office use, including dedicated restroom access and multiple enclosed offices alongside the open work area.
Key Highlights
- Second‑floor office condo with open area, private restroom, and dedicated copier/kitchenette room
- Includes two window offices for private workspace
- Ample parking available
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
$14,841
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
8.99%
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%
$296,820
$296.8K
Cap Rate 7%
$212,014
$212.0K
Cap Rate 9%
$164,900
$164.9K
Market Conditions
NOI Build-Up for 970 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
$29.1K $30.00/SF
− Vacancy
−$9.3K −$9.60/SF
EGI
$19.8K $20.40/SF
− OpEx
−$4.9K −$5.10/SF
NOI
$14.8K $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%
$296,820
Cap Rate 7%
$212,014
Cap Rate 9%
$164,900
Alternative Uses
Best Use
Office B
$212.0K
$185.5K – $247.4K
NOI $14,841 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.3K
$221.6K – $295.5K
NOI $17,730 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
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 units - Second-floor office condo with an open area, private restroom, two window offices, and a copier/kitchenette room.
Where is this office units located?
The property is located at 150 River Rd Montville, NJ.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Second‑floor office condo with open area, private restroom, and dedicated copier/kitchenette room; Includes two window offices for private workspace; Ample parking available
