Route 23 Commercial
1856 State Rt 23 West Milford, NJ 07480
1856 State Rt 23, West Milford, NJ, 07480
$999,900
For Sale
$999,900
Modern 3,750 SF building on Route 23 for sale.
Property Size3,750 SF
Lot Size1.11 Acres
Price / SF$266.64
Days on Market158
Property Features for 1856 State Rt 23
General Information
- Standard status
- Active
- Size
- 3,750 SF
- Lot size
- 1.11 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2019
Listing agency
RE/MAX PINNACLE
(908) 306-9600
Listed by
STEWART DANIELS · License #0895636
Source
Corcoran
Added: Feb 13 Updated: Jul 10 at 3:46PM Checked: Jul 21 at 4:45AM
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 RE/MAX PINNACLE
Investment Insights
Based on property information with market context.
This is a prominent 3,750 square foot commercial building constructed in 2019. It is positioned directly on Route 23 within the Highway Commercial Zone, offering strong highway visibility and generous on-site parking. The flexible, open interior is suitable for retail, showroom, gallery, medical, or professional office use. The modern interior features high ceilings, recessed lighting, and large display windows. The clean, open layout can accommodate single occupant use or segmented professional suites. The building is suitable for owner occupants seeking strong brand exposure or investors targeting quality commercial tenancy. Located on the northbound side of Route 23, the site benefits from steady daily traffic counts and regional accessibility.
Key Highlights
- Prominent 3,750 sq ft commercial building on Route 23 with strong highway visibility.
- Built in 2019 with modern interior features: high ceilings, recessed lighting, large display windows, open layout.
- Highway Commercial Zone allows for retail, showroom, gallery, medical, or professional office use.
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 | $112.5k | $30.00 |
| − Vacancy | −$36.0k | −$9.60 |
| EGI | $76.5k | $20.40 |
| − OpEx | −$19.1k | −$5.10 |
| NOI | $57.4k | $15.30 |
3,750 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$819.6K
$717.2K – $956.3K
NOI $57,375 @ 7.0% cap · market cap 5.74%
Second Best
Retail
$764.6K
$669.1K – $892.1K
NOI $53,525 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$979.2K
$856.8K – $1.14M
NOI $68,544 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Showrooms
Similar For Sale Nearby
FAQs
What type of property is this?
Showroom - Modern 3,750 SF building on Route 23 for sale.
Where is this showroom located?
The property is located at 1856 State Rt 23 West Milford, NJ.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Prominent 3,750 sq ft commercial building on Route 23 with strong highway visibility.; Built in 2019 with **modern interior features**: high ceilings, recessed lighting, large display windows, open layout.; Highway Commercial Zone allows for retail, showroom, gallery, medical, or professional office use.
