Medical Office Building with Long-Term
50 Cherry Hill Rd Parsippany Troy Hills, NJ 07054
50 Cherry Hill Rd, Parsippany Troy Hills, NJ, 07054
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For Sale
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Large medical office building with 81% of tenants in suites for over 25 years and recent capital improvements.
Property Size27,540 SF
Days on Market104
Property Features for 50 Cherry Hill Rd
General Information
- Standard status
- Active
- Size
- 27,540 SF
- Property subtype
- Office
Listing agency
CBRE - Saddle Brook
Listed by
Fahri Ozturk · License #NJ 1430421
Source
Crexi
Added: Apr 11 Updated: Jul 23 at 5:28AM Checked: Jul 23 at 5:28AM
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 CBRE - Saddle Brook
Investment Insights
Based on property information with market context.
50 Cherry Hill Road is a medical office building totaling 27,540 square feet at the intersection of Route 46 and Cherry Hill Road in Parsippany. The property has historically high occupancy, with a current weighted average lease term of 4.1 years, and 81% of building tenants have occupied their suites for over 25 years. Recent capital expenditures of $275,000 over the last three years include upgrades to the HVAC systems, elevators, common areas, and exterior finishes.
The building is positioned across the street from a CVS Pharmacy and is in close proximity to St. Claire’s Hospital in Denville and Morristown Medical Center. It is also less than a mile from Waterview Marketplace, which includes Whole Foods, Shake Shack, Homesense, and Ulta Beauty.
With access to major roadways including Routes 46, Interstate-80, and Interstate-287, the site is located about 30 miles from New York City.
The building is positioned across the street from a CVS Pharmacy and is in close proximity to St. Claire’s Hospital in Denville and Morristown Medical Center. It is also less than a mile from Waterview Marketplace, which includes Whole Foods, Shake Shack, Homesense, and Ulta Beauty.
With access to major roadways including Routes 46, Interstate-80, and Interstate-287, the site is located about 30 miles from New York City.
Key Highlights
- 27,540 SF medical office building at the intersection of Route 46 and Cherry Hill Road in Parsippany.
- 81% of building tenants have occupied their suites for over 25 years; historically high occupancy reported.
- Current weighted average lease term of 4.1 years.
Property Analytics
Location Intelligence
Current Use by Public Records
Rosenberg Francine E
Physician
Hirschmann Hayley R
Physician
Dr. Stephen R. ...
Physician
James Kanellakos, MD
Physician
Milbauer James MD
Physician
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FAQs
What type of property is this?
Medical Office Space - Large medical office building with 81% of tenants in suites for over 25 years and recent capital improvements.
Where is this medical office space located?
The property is located at 50 Cherry Hill Rd Parsippany Troy Hills, NJ.
What are key features of this property?
This property features: 27,540 SF medical office building at the intersection of Route 46 and Cherry Hill Road in Parsippany.; 81% of building tenants have occupied their suites for over 25 years; historically high occupancy reported.; Current weighted average lease term of 4.1 years.
