Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    385 State Route 24 Chester, NJ 07930

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,150 /Mo

    Office space in Chester Woods Professional Park available for rent.

    Property Features for 385 State Route 24

    General Information

    Standard status
    Active

    Building Details

    Year built
    1986

    We can help!

    Listing Contact
    Joan Obrien
    Source: Corcoran

    Listing Agency: WEICHERT REALTORS Listing Agent: Joan Obrien

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Chester Office Space Available Now

    This office space is located in Chester Woods Professional Park. The end unit features a conference room, two private offices, and a spacious reception area. There is also room for a kitchen area or filing room. The bathroom has been updated. New carpeting has been installed in some areas, and the space has been freshly painted. Immediate occupancy is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Morris
    State
    New Jersey
    Longitude
    -74.673595
    Latitude
    40.784209

    Nearby Similar for Lease

    • $4,500 /Mo
      2,200 SF

      Route 206 Retail Opportunity

      Updated retail building on Route 206 with high visibility.
      Chester Twp, Chester, NJ 07930
      View Details
    • $1,095 /Mo

      Storefront in Desirable Chester Location

      First floor storefront suitable for art studio, office, retail.
      28 Main St, Chester, NJ 07930
      View Details
    • Contact for pricing
      16,000 SF

      Remodeled Office Building with Elevator

      Two-story, 16,000 SF office building with high-end finishes.
      1 Mill Ridge Ln, Chester, NJ 07930
      View Details
    • $24 SF/Yr

      Office Building in Historic Chester

      Office spaces available for lease in a three-story building.
      4 Mill Ridge Ln, Chester, NJ 07930
      View Details
    • $2,700 /Mo
      7,200 SF

      First Floor Office Unit

      First floor office unit with conference room and offices.
      32 Collis Ln, Chester, NJ 07930
      View Details
    • $2,200 /Mo

      Office Space in Chester Boro

      2,200 sq. ft. office space in a high-visibility complex.
      95 W Main St, Chester, NJ 07930
      View Details
    • $2,800 /Mo
      2,200 SF

      Garage/Shop with Loft Space

      2200 SF garage with loft space for rent.
      84 Route 206, Chester, NJ 07930
      View Details
    • $1,095 /Mo
      26,136 SF

      Commercial Space in Chester Boro

      First-floor storefront suitable for art studio, office, retail, and more.
      28 Main St, Chester, NJ 07930
      View Details
    • Contact for pricing
      15,730 SF

      Madison Plaza: Medical Office Space

      Prime Chester, NJ Medical Office Suites Available
      300 Main St, Chester, NJ 07930
      View Details
    • $21 SF/Yr
      11,100 SF

      Chester Office Building for Lease

      Prime Morris County Office Suites Available
      31 Fairmount Ave, Chester, NJ 07930
      View Details
    • Contact for pricing
      6,200 SF

      Modern Office Space in Chester

      Office space for lease in historic Chester, New Jersey.
      2-4 Mill Ridge Ln, Chester, NJ 07930
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in Chester Woods Professional Park available for rent.
    Where is this office units located?
    The property is located at 385 State Route 24 Chester, NJ.
    What is the lease rate?
    The lease rate is $2,150 /Mo.
    What are key features of this property?
    This property features: - Prime office space in Chester Woods Professional Park.; - End unit location.; - Includes conference room and 2 private offices.
    (973) 543-6511
    Request Owner's contact information
    385 State Route 24 Chester, NJ 07930
    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.
    385 State Route 24
    Chester, NJ 07930
    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
    385 State Route 24 Chester, NJ 07930
    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

    We can help!
    Listing Contact
    Joan Obrien
    (973) 543-6511
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!