Updated Medical Office End
8 Shunpike Madison, NJ 07940
8 Shunpike, Madison, NJ, 07940
$300,000
For Sale
$300,000
Updated medical office end unit near hospitals and major routes.
Property Size1,024 SF
Lot Size1.10 Acres
Price / SF$292.97
Days on Market119
Property Features for 8 Shunpike
General Information
- Standard status
- Active
- Size
- 1,024 SF
- Lot size
- 1.10 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1964
Listing Agency
(908) 522-1800
Listed by
CHRISTINE LAYNG
Source
Elliman
Added: Mar 24 Checked: Jul 20 at 5:04 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 CHRISTINE LAYNG
Investment Insights
Based on property information with market context.
This 1,024-square-foot medical office end unit, updated in 2025, features a reception/waiting area, reception office, three to four exam rooms, a private office, a kitchenette, a bathroom, and a closet with a door lock. It is intended for medical or dental use. The building is divided into seven units with a partnership agreement. A monthly fee of $1,792 covers maintenance, including trash and recycle removal, landscaping, and snow removal, as well as utilities such as heat, electric for common areas, water, sewer, and insurance. The central heating system consists of gas forced hot air with package air conditioning. The roof, new in 2021, is flat with a wood deck and tar covering. The property is conveniently located close to Morristown Memorial & Overlook Hospitals, shops, restaurants, and routes 24, 78, and 287.
Key Highlights
- Updated in 2025 medical office space.
- Close proximity to Morristown Memorial & Overlook Hospitals.
- Includes reception area, 3‑4 exam rooms, private office, kitchenette, and bathroom.
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 | $30.7k | $30.00 |
| − Vacancy | −$9.8k | −$9.60 |
| EGI | $20.9k | $20.40 |
| − OpEx | −$5.2k | −$5.10 |
| NOI | $15.7k | $15.30 |
1,024 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$223.8K
$195.8K – $261.1K
NOI $15,667 @ 7.0% cap · market cap 5.22%
Second Best
Healthcare Medical
$217.8K
$190.6K – $254.1K
NOI $15,247 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$267.4K
$234.0K – $312.0K
NOI $18,717 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Buryk Joellen
Employment Agency
Dr. Vesna Nikodijevic
Pediatrician
Coyle Dentistry: Dr. ...
Dental Office
Dr. Nimish B. ...
Dental Office
Gary Berger
Pediatrician
Similar For Sale Nearby
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FAQs
What type of property is this?
Medical Office Space - Updated medical office end unit near hospitals and major routes.
Where is this medical office space located?
The property is located at 8 Shunpike Madison, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Updated in 2025 medical office space.; Close proximity to Morristown Memorial & Overlook Hospitals.; Includes reception area, **3‑4 exam rooms, private office, kitchenette, and bathroom.**
