Freestanding Professional Office
1711 Route 46, Parsippany, NJ 07054
For Sale
$728,000
Professional office building in very good condition, suitable for investors/users.
Property Size3,000 SF
Price / SF$242.67
Days on Market219
Property Features for 1711 Route 46
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
ARCADIA, REALTORS
Listed By:
RICHARD N LEONARD
(973) 228-7060
Source:
Sheeranrealestate
Added: Apr 10
Changed: Nov 12
Last Checked: Oct 7 at 2:38PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a freestanding professional office building. A previous accounting office occupied the building for 25 years. The building is in very good condition. The estimated area is 3000 square feet. The first floor layout allows for two users, each with exterior access. Located in Parsippany-Troy Hills Twp., NJ, the property has a walk score of 20, indicating car dependence, and a bike score of 32, suggesting it is somewhat bikeable. The property may suit various uses in the changing office and retail environment.
Key Highlights
- Free‑standing professional office building.
- Building in very good condition.
- First floor lends itself to two users with exterior access.
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.
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Property Analytics
Who owns this building?
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Open 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
$569,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Morris County, NJ
Properties on Market for Office buildings in Morris County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Professional office building in very good condition, suitable for investors/users.
Where is this office building located?
The property is located at 1711 Route 46 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: Free‑standing professional office building.; Building in very good condition.; First floor lends itself to two users with exterior access.
