Fully Leased Office
629 Parsippany Rd Parsippany, NJ 07054
629 Parsippany Rd, Parsippany, NJ, 07054
Contact for pricing
For Sale
Contact for pricing
30,000 SF office building on 2.1 acres for sale.
Property Size30,000 SF
Lot Size2.10 Acres
Price / SF$166.67
Days on Market52
Property Features for 629 Parsippany Rd
General Information
- Standard status
- Active
- Size
- 30,000 SF
- Lot size
- 2.10 Acres
- Property subtype
- OFFICE
Listing Agency
Newmark & Associates, Inc.
(973) 216-7107
Listed by
Nancy Stanton-Tuckman
(973) 216-7107
Source
Moodyscre
Added: May 26 Checked: Jul 16 at 6:12 am
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 Newmark & Associates, Inc.
Investment Insights
Based on property information with market context.
This is a fully leased office building with approximately 30,000 square feet of office space situated on 2.1 acres. The property benefits from a prime location in a high-traffic area and features prominent signage for high visibility. It offers easy access to Routes 287, 80, and 24. The building includes an elevator and ample covered parking. The zoning is B-2 Business, which may allow for a variety of commercial uses.
Key Highlights
- Fully Leased Office Building with 10 Years on Lease
- Approx. 30,000 sf of Office on 2.1 Acres
- Prime Location in High Traffic Area
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $900.0k | $30.00 |
| − Vacancy | −$288.0k | −$9.60 |
| EGI | $612.0k | $20.40 |
| − OpEx | −$153.0k | −$5.10 |
| NOI | $459.0k | $15.30 |
30,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.56M
$5.74M – $7.65M
NOI $459,000 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.83M
$6.85M – $9.14M
NOI $548,352 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Weiner Law Group ...
Law Firm
Christopher Leon Garibian, ...
Law Firm
Berkeley Leonard H
Law Firm
Rudin Richard L
Law Firm
Brechner Howard E
Law Firm
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FAQs
What type of property is this?
Office building - 30,000 SF office building on 2.1 acres for sale.
Where is this office building located?
The property is located at 629 Parsippany Rd Parsippany, NJ.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: Fully Leased Office Building with 10 Years on Lease; Approx. 30,000 sf of Office on 2.1 Acres; Prime Location in High Traffic Area
