Freestanding Bank with Pylon
For Sale
$1,075,000
4 N Jefferson Rd, Whippany, NJ 07981
Former freestanding bank on a 1.59-acre parcel with pylon signage and frontage on both Route 10 and N Jefferson Road.
Property Size101,146,320 SF
Lot Size1.59 Acres
Price / SF$462.96
Days on Market131
Property Features for 4 N Jefferson Rd
General Information
Standard status
Active
Size
101,146,320 SF
Lot size
1.59 Acres
Property subtype
Retail
Site & Location
Traffic Count
33,055 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
101,146,320 SF
Year Built
1971
Listing Agency:
Pierson Commercial Real Estate
Listed By:
Neil Ruppert · License #1861045
(732) 707-6900
Source:
Commercialcafe
Added: Jun 12
Changed: Oct 10
Last Checked: Oct 19 at 4:11AM
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 Pierson Commercial Real Estate
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Investment Insights
Based on property information with market context.
Former +/- 2,322 SF freestanding bank available for sale on a +/- 1.59-acre parcel. The property includes a freestanding pylon sign and provides over 200’ of frontage along both Route 10 and N Jefferson Road.
The site is positioned at a signalized intersection of Route 10 (+/- 33,055 VPD) and N Jefferson Road (+/- 4,701 VPD). It is also described as being in close proximity to mass-transit and major regional connections, including I-287, I-80, I-280, Route 10, and Route 24.
A deed restriction is in place for 2 years, limiting the property against any financial institution. Nearby regional retailers noted include Wegmans, BJ’s, and Costco, along with Class-A corporate offices of Bayer, Novartis, Barclays, MetLife, and GAF.
The site is positioned at a signalized intersection of Route 10 (+/- 33,055 VPD) and N Jefferson Road (+/- 4,701 VPD). It is also described as being in close proximity to mass-transit and major regional connections, including I-287, I-80, I-280, Route 10, and Route 24.
A deed restriction is in place for 2 years, limiting the property against any financial institution. Nearby regional retailers noted include Wegmans, BJ’s, and Costco, along with Class-A corporate offices of Bayer, Novartis, Barclays, MetLife, and GAF.
Key Highlights
- Former freestanding bank totaling about 2,322 SF on a +/- 1.59‑acre parcel
- Located at the signalized intersection of Route 10 (+/- 33,055 VPD) and N Jefferson Road (+/- 4,701 VPD)
- Freestanding pylon sign plus more than 200' frontage on both Route 10 and N Jefferson Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,510
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,200
$710.2K
Cap Rate 7%
$507,286
$507.3K
Cap Rate 9%
$394,556
$394.6K
Market Conditions
NOI Build-Up for 2,322 SF
Gross rent
$50.2K $21.60/SF
− Vacancy
−$2.8K −$1.21/SF
EGI
$47.3K $20.39/SF
− OpEx
−$11.8K −$5.10/SF
NOI
$35.5K $15.29/SF
Area
Morris County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,200
Cap Rate 7%
$507,286
Cap Rate 9%
$394,556
Alternative Uses
Best Use
Specialty Retail
$507.3K
$443.9K – $591.8K
NOI $35,510 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$473.5K
$414.3K – $552.4K
NOI $33,143 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$606.3K
$530.5K – $707.4K
NOI $42,442 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
33,055 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Apparel 2%
QuickChek
Shops & Services
47,951 visits/mo
0.2 miles
Wells Fargo
Shops & Services
5,544 visits/mo
0.0 miles
Tiffany & Co.
Apparel
1,142 visits/mo
0.5 miles
CubeSmart Self Storage
Shops & Services
535 visits/mo
0.5 miles
Demographics for 07981, NJ
9,051
Population
3,723
Households
2.4
Avg Household Size
48
Median Age
55%
College-Educated
98%
High-School Grad
6.0 sq mi
ZIP Area
1,509
Density / Sq Mi
$153,329
Median Household Income
$81,864
Median Earnings
$2,619
Median Rent
$611,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Bank - Former freestanding bank on a 1.59-acre parcel with pylon signage and frontage on both Route 10 and N Jefferson Road.
Where is this bank located?
The property is located at 4 N Jefferson Rd Whippany, NJ.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Former freestanding bank totaling about 2,322 SF on a +/- 1.59‑acre parcel; Located at the signalized intersection of Route 10 (+/- 33,055 VPD) and N Jefferson Road (+/- 4,701 VPD); Freestanding pylon sign plus more than 200' frontage on both Route 10 and N Jefferson Road
