Listing Agency: KASA BELLA REALTY

Listed By: KETAN T. KENIA Show Phone

Source: Luminancerealty

Added: Jun 11 Changed: Oct 11 Last Checked: Oct 5 at 10:31PM

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Investment Insights

Based on property information with market context.

Suite available in a well-maintained shared office environment, currently occupied by an established CPA firm. The space is offered as a professional office setup designed for business users seeking a convenient, functional workspace. Rent includes access to the kitchen area, as well as conference room access subject to scheduling availability, along with utilities and internet service.

The property provides ample parking and excellent accessibility with close proximity to major highways for both clients and staff. An added operational benefit is a backup generator intended to help ensure uninterrupted power supply during inclement weather and unexpected outages.

Tenant is responsible for obtaining their own liability insurance and shall indemnify the landlord.

Key Highlights

• Professional office suite in a shared office environment currently occupied by an established CPA firm
• Rent includes kitchen access, scheduled conference room (subject to scheduling availability), utilities, and internet service
• Central air cooling and heating (3)

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,990

Suggested Prices Based on Cap Rates

Cap Rate 5%

$759,800 $759.8K

Cap Rate 7%

$542,714 $542.7K

Cap Rate 9%

$422,111 $422.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,483 SF

Gross rent

$74.5K $30.00/SF

− Vacancy

−$23.8K −$9.60/SF

EGI

$50.7K $20.40/SF

− OpEx

−$12.7K −$5.10/SF

NOI

$38.0K $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%

$759,800

Cap Rate 7%

$542,714

Cap Rate 9%

$422,111

Alternative Uses

Best Use

Office B

$542.7K

$474.9K – $633.2K (±1% cap)

NOI $37,990 @ 7.0% cap · market cap 1,726.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$648.4K

$567.3K – $756.4K (±1% cap)

NOI $45,385 @ 7.0% cap · market cap 2,062.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Q P Group Business Management Consultant Fortitude Insurance Group Insurance Agency Licensed Health Insurance ... Insurance Agency FedEx Drop Box Postal Service CRM IT Consulting Firm

Suggested Use

Top Pick Restaurant Auto Parts Store Building Supply Big Box & Wholesale Store Real Estate Agency Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

565

Businesses Nearby

Explore this area Business Placement

Demographics for 07054, NJ

30,228

Population

12,497

Households

2.4

Avg Household Size

41

Median Age

61%

College-Educated

93%

High-School Grad

13.8 sq mi

ZIP Area

2,190

Density / Sq Mi

$107,955

Median Household Income

$69,061

Median Earnings

$1,725

Median Rent

$569,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office unit - Office suite in a shared workspace with kitchen access, scheduled conference room, utilities, internet, ample parking, and backup generator.

Where is this office unit located?

The property is located at 601 Jefferson Rd Parsippany Troy Hills, NJ.

What are key features of this property?

This property features: Professional office suite in a shared office environment currently occupied by an established CPA firm; Rent includes kitchen access, scheduled conference room (subject to scheduling availability), utilities, and internet service; Central air cooling and heating (3)