Renovated Medical Office
For Sale
Contact for pricing
170 Changebridge Rd, Montville, NJ 07045
Configured for clinical and administrative functions with reception, lab, pantry, and two bathrooms.
Property Size1,440 SF
Price / SF$291.67
Days on Market54
Property Features for 170 Changebridge Rd
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Evergreen Commercial Real Estate
Listed By:
Sal Bellafiore · License #NJ 7832500
Source:
Crexi
Added: Aug 14
Changed: Oct 1
Last Checked: Oct 5 at 4:25PM
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 medical office suite was built in 1981 and has been renovated with updated flooring, tile, doors, lighting, and carpet. The interior arrangement includes 6 offices or exam rooms, a reception area, administrative workspace, lab area, pantry, and 2 bathrooms, providing a defined setting for medical practice operations.
The suite is located within a business center in Montville, New Jersey, with access to Route 287 and Route 80. OB-1 zoning is in place. The layout and existing improvements support both owner-user occupancy and investor consideration.
The suite is located within a business center in Montville, New Jersey, with access to Route 287 and Route 80. OB-1 zoning is in place. The layout and existing improvements support both owner-user occupancy and investor consideration.
Key Highlights
- Renovated medical office suite with updated flooring, tile, doors, lighting, and carpet
- 6 offices or exam rooms arranged within the suite
- Reception area, administrative workspace, lab area, and pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,032
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,640
$440.6K
Cap Rate 7%
$314,743
$314.7K
Cap Rate 9%
$244,800
$244.8K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$43.2K $30.00/SF
− Vacancy
−$13.8K −$9.60/SF
EGI
$29.4K $20.40/SF
− OpEx
−$7.3K −$5.10/SF
NOI
$22.0K $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%
$440,640
Cap Rate 7%
$314,743
Cap Rate 9%
$244,800
Alternative Uses
Best Use
Office B
$314.7K
$275.4K – $367.2K
NOI $22,032 @ 7.0% cap · market cap 5.25%
Second Best
Healthcare Medical
$306.3K
$268.0K – $357.4K
NOI $21,441 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,321 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07045, NJ
10,573
Population
3,707
Households
2.9
Avg Household Size
48
Median Age
68%
College-Educated
96%
High-School Grad
6.6 sq mi
ZIP Area
1,602
Density / Sq Mi
$179,279
Median Household Income
$84,375
Median Earnings
$3,501
Median Rent
$647,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for clinical and administrative functions with reception, lab, pantry, and two bathrooms.
Where is this medical office space located?
The property is located at 170 Changebridge Rd Montville, NJ.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Renovated medical office suite with updated flooring, tile, doors, lighting, and carpet; 6 offices or exam rooms arranged within the suite; Reception area, administrative workspace, lab area, and pantry
