Office Condo with Solar
200 Mineral Springs Dr, Dover, NJ 07801
For Sale
$1,100,000
Well-maintained office condo with multi-unit HVAC, multiple lavatories, kitchenette, and owned solar panels.
Property Size4,766 SF
Days on Market148
Property Features for 200 Mineral Springs Dr
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
CHRISTOPHER OHAB · License NJ #301258
(862) 219-9168
Source:
Elliman
Added: Jun 20
Changed: Sep 3
Last Checked: Aug 25 at 5:06AM
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
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Investment Insights
Based on property information with market context.
This office condo is part of a multi-unit office building and is presented in well-maintained condition. The space includes multi-unit heating and cooling for year-round comfort, multiple lavatories for convenience, and a kitchenette to support day-to-day operations. Owned solar panels are included, and the property is supported by building-level amenities and upkeep managed through the HOA.
The building is located at 200 Mineral Springs Dr in Rockaway Twp., NJ, just minutes from Route 80. Ample parking is available for straightforward access, and the HOA is responsible for exterior maintenance and snow removal, among other responsibilities.
For businesses seeking a manageable, condo-style ownership setup, the configuration supports a professional office use with practical everyday features. The combination of multi-unit HVAC, multiple restrooms, and an on-site kitchenette can help accommodate daily staff needs, while HOA-managed exterior tasks reduce the administrative burden of maintaining the building. For those evaluating alternatives, the offering is also available for rent.
The building is located at 200 Mineral Springs Dr in Rockaway Twp., NJ, just minutes from Route 80. Ample parking is available for straightforward access, and the HOA is responsible for exterior maintenance and snow removal, among other responsibilities.
For businesses seeking a manageable, condo-style ownership setup, the configuration supports a professional office use with practical everyday features. The combination of multi-unit HVAC, multiple restrooms, and an on-site kitchenette can help accommodate daily staff needs, while HOA-managed exterior tasks reduce the administrative burden of maintaining the building. For those evaluating alternatives, the offering is also available for rent.
Key Highlights
- Office condo built in 1989 in a highly desirable area just minutes from Route 80
- Multi‑unit heating and cooling system for year‑round comfort
- Includes multiple lavatories and a kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,920
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,458,400
$1.5M
Cap Rate 7%
$1,041,714
$1.0M
Cap Rate 9%
$810,222
$810.2K
Market Conditions
NOI Build-Up for 4,766 SF
Gross rent
$143.0K $30.00/SF
− Vacancy
−$45.8K −$9.60/SF
EGI
$97.2K $20.40/SF
− OpEx
−$24.3K −$5.10/SF
NOI
$72.9K $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%
$1,458,400
Cap Rate 7%
$1,041,714
Cap Rate 9%
$810,222
Alternative Uses
Best Use
Office B
$1.04M
$911.5K – $1.22M
NOI $72,920 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,115 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
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Business Placement
Demographics for 07801, NJ
25,935
Population
9,442
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
81%
High-School Grad
13.0 sq mi
ZIP Area
1,995
Density / Sq Mi
$78,053
Median Household Income
$37,316
Median Earnings
$1,747
Median Rent
$369,400
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Morris County, NJ
Properties on Market for Office Units in Morris County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Well-maintained office condo with multi-unit HVAC, multiple lavatories, kitchenette, and owned solar panels.
Where is this office unit located?
The property is located at 200 Mineral Springs Dr Dover, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Office condo built in 1989 in a highly desirable area just minutes from Route 80; Multi‑unit heating and cooling system for year‑round comfort; Includes multiple lavatories and a kitchenette
