Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mendham Borough Retail/Office Space Title is generated by Realmo AI

    2 Hilltop Rd., Mendham, NJ 07945

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,500/Mo $40 SF/Yr (calc)

    Prime 750 sq. ft. retail/office space for lease.

    Type:Commercial
    Property size:
    750 SF
    Added:
    Jul 25, 2025
    Days on Market:
    302
    Last Refresh:
    Apr 5 at 8:13 pm

    Property Features for 2 Hilltop Rd.

    General Information

    Standard status
    Active
    Size
    750 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    JENNIFER VONGAS

    Listing agent JENNIFER VONGAS

    Listing office COLDWELL BANKER REALTY

    Listing date Jul 25, 2025

    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 COLDWELL BANKER REALTY

    HighLights

    • Prime location in desirable Mendham Borough with high visibility and foot/vehicle traffic.
    • 750 sq. ft. space suitable for retail, office, boutique services, or studio use.
    • Ample off‑street parking, a rare and valuable asset in a downtown setting.
    • Flexible layout with bright open front area and separate private offices.
    • Move‑in ready interior with great natural light and easy street access.
    • Conveniently located just 15 minutes from downtown Morristown and Train.

    Overview

    This 750 sq. ft. commercial space is located in Mendham Borough and is suited for retail, professional office, boutique services, or studio use. The property is situated on a well-traveled street with good visibility, and features a storefront that attracts foot and vehicle traffic. The layout includes a bright, open front area suitable for displays or client interactions, along with separate private offices that can be used for consultations, meetings, or staff workspace. The unit offers natural light, easy street access, and a move-in ready interior. Off-street parking is available. The location is approximately 15 minutes from downtown Morristown and the train.
    Property Profile Location Intelligence

    Current Use by Public Records

    Woven Floors Inc Carpet & Flooring Store Windshield Replacers Mendham ... Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mendham
    County
    Morris
    State
    New Jersey
    Longitude
    -74.5996
    Latitude
    40.7753

    Nearby Similar for Lease

    • $1,700/Mo

      Renovated Office Space in Mendham

      Sun-filled, renovated office space in a prime Mendham location.
      7 W Main St, Mendham, NJ 07945-1248
      View Details
    • $3,800/Mo
      1,700 SF

      Spacious Mendham Boro Rental Home

      Charming 3-bedroom rental near Kings Shopping Center and top schools.
      83 East Main St 83B, Mendham, NJ 07945-1828
      View Details
    • $4,000/Mo
      1,700 SF

      Mendham Retail/Office Space For Lease

      Prime commercial space in Mendham's high-traffic area, available immediately.
      18 E Main St, Mendham Boro, NJ 07945
      View Details
    • $750/Mo
      175 SF

      Renovated Office Space Available

      Bright, furnished first-floor office space with utilities included.
      5 Cold Hill Rd, Mendham Boro, NJ 07945
      View Details
    • $1,700/Mo

      Renovated Office Space in Mendham

      Sun-filled, renovated office space in a prime Mendham location.
      7 W Main St, Mendham Boro, NJ 07945
      View Details
    • $2,100/Mo
      1,024 SF

      Mendham Retail Spaces For Rent

      Retail suites available in downtown Mendham, gross lease plus utilities.
      6 Hilltop Rd, Mendham, NJ
      View Details
    • Contact for pricing
      52,000 SF

      Industrial Build-to-Suit Opportunity

      Proposed industrial building for lease with preliminary approvals obtained.
      113 Mendham Rd E, Mendham, NJ
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime 750 sq. ft. retail/office space for lease.
    Where is this retail space located?
    The property is located at 2 Hilltop Rd. Mendham, NJ.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Prime location in desirable Mendham Borough with high visibility and foot/vehicle traffic.; 750 sq. ft. space suitable for retail, office, boutique services, or studio use.; Ample off‑street parking, a rare and valuable asset in a downtown setting.
    (973) 543-2552
    We can help!
    Listing Contact
    JENNIFER VONGAS
    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
    2 Hilltop Rd., Mendham Boro, NJ 07945
    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!