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    170 Parsippany Rd Parsippany, NJ 07054

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    For Sale
    $2,750,000

    Condo in busy strip mall leased by anchor tenant.

    Property size:
    7,200 SF
    Lot size:
    0.09 Acres

    Property Features for 170 Parsippany Rd

    General Information

    Standard status
    Active
    Size
    7,200 SF
    Lot size
    0.09 Acres

    Building Details

    Year built
    1970

    Source: GERVIN MANAGEMENT & REALTY LLC Agent ELIZABETH C GALLAGHER

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Condo in Busy Strip Mall

    This property offers an opportunity to own a condo within a busy strip mall. The property is currently leased by an anchor tenant. As part of the lease agreement, the tenant is responsible for covering maintenance fees and property taxes. The maintenance fee encompasses trash removal, snow removal, lawn care, and building insurance. The property size is 7200 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quick Chek Convenience Store PNC ATM Atm The Laundry Laundromat PNC Bank ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Parsippany
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4264176
    Latitude
    40.8595859

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    FAQs

    What type of property is this?
    Strip mall - Condo in busy strip mall leased by anchor tenant.
    Where is this strip mall located?
    The property is located at 170 Parsippany Rd Parsippany, NJ.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: - Tenant responsible for maintenance fees and property taxes.; - Leased by anchor tenant.; - Excellent opportunity to own condo.
    (973) 335-5587
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    170 Parsippany Rd Parsippany, NJ 07054
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    Parsippany, NJ 07054
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    170 Parsippany Rd Parsippany, NJ 07054
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