Freestanding Office
For Sale
$728,000
1711 Route 46 #1, Parsippany, NJ 07054
The first floor can serve two users, each with a separate exterior entrance.
Property Size3,000 SF
Price / SF$242.67
Days on Market199
Property Features for 1711 Route 46 #1
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
13
Property subtype
Commercial
Zoning
C
Building Details
Building Size
3,000 SF
Year Built
1850
Buildings
1
Stories
2
Units
2
Listing Agency:
Arcadia, Realtors
Listed By:
Richard N Leonard
(973) 228-7060
Source:
Cammarotarealestate
Added: Apr 8
Changed: Oct 22
Last Checked: Oct 22 at 2:36PM
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 Arcadia, Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding professional office building is in very good condition and measures approximately 3,000 square feet. Its first floor can be arranged for two users, with each space having exterior access. The property was previously occupied by an accounting office for 25 years.
Key Highlights
- Approximately 3,000 square feet
- First floor can accommodate two users with separate exterior access
- Previously occupied by an accounting office for 25 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,900
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,000
$918.0K
Cap Rate 7%
$655,714
$655.7K
Cap Rate 9%
$510,000
$510.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$90.0K $30.00/SF
− Vacancy
−$28.8K −$9.60/SF
EGI
$61.2K $20.40/SF
− OpEx
−$15.3K −$5.10/SF
NOI
$45.9K $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%
$918,000
Cap Rate 7%
$655,714
Cap Rate 9%
$510,000
Alternative Uses
Best Use
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Office building - The first floor can serve two users, each with a separate exterior entrance.
Where is this office building located?
The property is located at 1711 Route 46 #1 Parsippany, NJ.
What is the asking price?
The asking price for this property is $728,000.
What are key features of this property?
This property features: Approximately 3,000 square feet; First floor can accommodate two users with separate exterior access; Previously occupied by an accounting office for 25 years
