Inviting Medical/Professional Office
236 Millbrook Ave Randolph, NJ 07869
236 Millbrook Ave, Randolph, NJ, 07869
$1,600,000
For Sale
$1,600,000
Office space with natural light, suitable for medical or professional.
Property Size6,600 SF
Lot Size1.61 Acres
Price / SF$242.42
Days on Market154
Property Features for 236 Millbrook Ave
General Information
- Standard status
- Active
- Size
- 6,600 SF
- Lot size
- 1.61 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1800
Listing Agency
BHHS GROSS AND JANSEN REALTORS
(973) 841-7440
Listed by
SONYA HANSON
Source
Corcoran
Added: Feb 17 Updated: Jul 10 at 3:46 pm Checked: Jul 20 at 4:02 am
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 BHHS GROSS AND JANSEN REALTORS
Investment Insights
Based on property information with market context.
This 6,600 square foot property features large windows and high ceilings, providing ample natural light and creating an inviting workspace. The property is suitable for medical or professional use and presents an opportunity for rental income. It is located close to major highways, including Route 10, Route 46, and 287.
Key Highlights
- Ideal for medical or professional use.
- Great opportunity for rental income.
- Close to major highways: Rt 10, Rt 46, 287.
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 | $198.0k | $30.00 |
| − Vacancy | −$63.4k | −$9.60 |
| EGI | $134.6k | $20.40 |
| − OpEx | −$33.7k | −$5.10 |
| NOI | $101.0k | $15.30 |
6,600 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,980 @ 7.0% cap · market cap 6.31%
Second Best
Healthcare Medical
$1.40M
$1.23M – $1.64M
NOI $98,271 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,637 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Law Advocates LLC
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Office space with natural light, suitable for medical or professional.
Where is this medical office space located?
The property is located at 236 Millbrook Ave Randolph, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Ideal for medical or professional use.; Great opportunity for rental income.; Close to major highways: Rt 10, Rt 46, 287.
