Renovated Medical Office For
375 State Route 10, Whippany, NJ
For Sale
Contact for pricing
5,100 sqft+ renovated medical office space with 30 parking spaces.
Property Size5,100 SF
Lot Size0.75 Acres
Price / SF$235.29
Days on Market1200
Property Features for 375 State Route 10
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
Cervelli Real Estate & Property Management
(201) 868-6300
Listed By:
Gary Baez · License NJ #1434899
(551) 200-3787
Source:
Moodyscre
Added: Aug 1, 2023
Changed: Oct 26
Last Checked: Nov 10 at 8:17AM
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 Cervelli Real Estate & Property Management
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Investment Insights
Based on property information with market context.
This property offers over 5,100 square feet of medical office space and has been completely renovated within the past 4 years. The site includes 30 parking spaces.
Key Highlights
- 5,100sqft+ medical office space available
- Completely renovated within the past 4 years
- 30 parking spaces on site, plus additional on site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,030
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,560,600
$1.6M
Cap Rate 7%
$1,114,714
$1.1M
Cap Rate 9%
$867,000
$867.0K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$153.0K $30.00/SF
− Vacancy
−$49.0K −$9.60/SF
EGI
$104.0K $20.40/SF
− OpEx
−$26.0K −$5.10/SF
NOI
$78.0K $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%
$1,560,600
Cap Rate 7%
$1,114,714
Cap Rate 9%
$867,000
Alternative Uses
Best Use
Office B
$1.11M
$975.4K – $1.30M
NOI $78,030 @ 7.0% cap · market cap 6.50%
Second Best
Healthcare Medical
$1.08M
$949.2K – $1.27M
NOI $75,937 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,220 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Market
Average Price Trend$/SF for Medical Office Space in Morris County, NJ
Properties on Market for Medical Office Space in Morris County
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 5,100 sqft+ renovated medical office space with 30 parking spaces.
Where is this medical office space located?
The property is located at 375 State Route 10 Whippany, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,100sqft+ medical office space available; Completely renovated within the past 4 years; 30 parking spaces on site, plus additional on site parking
