Professional Office Condo
2740 STATE ROUTE 10 Unit 201 Morris Plains, NJ 07950
2740 STATE ROUTE 10 Unit 201, Morris Plains, NJ, 07950
$499,000
For Sale
$499,000
Office condo suite with reception, conference room, private offices, open work area, and training space in a secure building.
Property Size2,506 SF
Price / SF$199.12
Days on Market129
Property Features for 2740 STATE ROUTE 10 Unit 201
General Information
- Standard status
- Active
- Size
- 2,506 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1990
Listing agency
CORCORAN SAWYER SMITH
(973) 356-7808
Listed by
ATACAN ZERAN
(973) 356-7808
Source
Xome
Added: Mar 15 Updated: Jul 21 at 1:59PM Checked: Jul 21 at 1:59PM
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 CORCORAN SAWYER SMITH
Investment Insights
Based on property information with market context.
This professional office condo suite offers a reception area, a kitchenette, a conference room, multiple private offices, an open work area, and a dedicated training space. The building includes an elevator, bathrooms on every floor, secure access, and abundant parking for staff and clients.
The property is located on Route 10 with immediate access to Routes 202 and 287, and it is described as just minutes from Morristown.
Monthly maintenance is $1,972 and includes building maintenance, snow and trash removal, and water. The owner pays electric.
The property is located on Route 10 with immediate access to Routes 202 and 287, and it is described as just minutes from Morristown.
Monthly maintenance is $1,972 and includes building maintenance, snow and trash removal, and water. The owner pays electric.
Key Highlights
- Office condo in a secure building with elevator access and bathrooms on every floor
- Suite includes reception area, kitchenette, conference room, multiple private offices, open work area, and dedicated training space
- Central air cooling and heating system noted as 3 units; fire alarm included
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 | $75.2k | $30.00 |
| − Vacancy | −$24.1k | −$9.60 |
| EGI | $51.1k | $20.40 |
| − OpEx | −$12.8k | −$5.10 |
| NOI | $38.3k | $15.30 |
2,506 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$547.7K
$479.3K – $639.0K
NOI $38,342 @ 7.0% cap · market cap 7.68%
Second Best
Healthcare Medical
$533.0K
$466.4K – $621.9K
NOI $37,313 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$654.4K
$572.6K – $763.4K
NOI $45,806 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Office condo suite with reception, conference room, private offices, open work area, and training space in a secure building.
Where is this office units located?
The property is located at 2740 STATE ROUTE 10 Unit 201 Morris Plains, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Office condo in a secure building with elevator access and bathrooms on every floor; Suite includes reception area, kitchenette, conference room, multiple private offices, open work area, and dedicated training space; Central air cooling and heating system noted as 3 units; fire alarm included
