Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Professional Office Building Title is generated by Realmo AI

    1711 Route 46, Parsippany, NJ 07054

    View on Map
    Claim this Listing
    For Sale
    $728,000

    Freestanding office building suitable for multiple users or investors.

    Type:Commercial
    Property size:
    3,000 SF
    Price / SF:
    $242/SF
    Added:
    Apr 8, 2026
    Days on Market:
    55
    Last Refresh:
    Apr 8 at 8:10 pm

    Property Features for 1711 Route 46

    General Information

    Standard status
    Active
    Size
    3,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1850

    We can help!

    Listing Contact
    RICHARD N LEONARD

    Listing agent RICHARD N LEONARD

    Listing office ARCADIA, REALTORS

    Listing date Apr 8, 2026

    Source Corcoran

    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

    HighLights

    • Free‑standing professional office building.
    • Building in very good condition.
    • First floor suitable for two users with exterior access.
    • Previous occupant used building for 25 years.
    • Potential for innovative uses in a changing market.
    • Built in 1850.

    Overview

    This is a freestanding professional office building. The previous occupant, an accounting office, utilized the building for 25 years. The building is in very good condition. The property size is approximately 3000 square feet. The first floor is designed to accommodate two users, each with exterior access. The property may suit alternative uses for investors or users.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $90.0k $30.00
    − Vacancy −$28.8k −$9.60
    EGI $61.2k $20.40
    − OpEx −$15.3k −$5.10
    NOI $45.9k $15.30
    3,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $655.7K
    $573.8K – $765.0K (±1% cap)
    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 (±1% cap)
    NOI $54,835 @ 7.0% cap · market cap 7.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Parsippany
    County
    Morris
    State
    New Jersey
    Longitude
    -74.3996
    Latitude
    40.8553

    Nearby Similar for Sale

    • $728,000
      3,000 SF

      Parsippany-Troy Hills Office Building

      Freestanding professional office building in very good condition.
      1711 Route 46, Parsippany-Troy Hills Twp., NJ 07054-2913
      View Details
    • $3,100,000
      4,000 SF

      Prime Retail Location on US 46

      High-visibility retail property with ample parking and easy access.
      1106 ROUTE 46, Parsippany-Troy Hills Twp., NJ 07054-2100
      View Details
    • $728,000
      3,000 SF

      Freestanding Professional Office Building

      Professional office building in very good condition, suitable for investors/users.
      1711 Route 46, Parsippany-Troy Hills Twp., NJ 07054-2913
      View Details
    • $4,999,999
      30,000 SF

      Fully Leased Office Building

      30,000 SF office building on 2.1 acres for sale.
      629 Parsippany Rd, Parsippany, NJ 07054
      View Details
    • $2,750,000
      7,200 SF

      Condo in Busy Strip Mall

      Condo in busy strip mall leased by anchor tenant.
      170 Parsippany Rd, Parsippany-Troy Hills Twp., NJ 07054
      View Details
    • $9,440,000

      Retail Property on US Highway

      Retail property for sale on US Highway 46 in Parsippany.
      745 US Highway 46, Parsippany, NJ
      View Details
    • Contact for pricing
      120,441 SF

      Parsippany Redevelopment Opportunity

      Redevelopment opportunity with easy access to major interchanges.
      11 Waterview Blvd, Parsippany, NJ
      View Details
    • $850

      Two Office Units Available

      Two office units suitable for various professional services.
      959 ROUTE 46 Unit 503, Parsippany, NJ 07054
      View Details

    FAQs

    What type of property is this?
    Office building - Freestanding office building suitable for multiple users or investors.
    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 suitable for two users with exterior access.
    (973) 228-7060
    We can help!
    Listing Contact
    RICHARD N LEONARD
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1711 Route 46, Parsippany-Troy Hills Twp., NJ 07054
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!