Medical Office Suite with Exam
For Sale
$300,000
8 Shunpike Rd #4, Madison, NJ 07940
Patient-facing layout includes reception, three exam rooms, a private office, and dedicated support areas.
Property Size1,024 SF
Price / SF$292.97
Days on Market466
Property Features for 8 Shunpike Rd #4
General Information
Standard status
Active
Size
1,024 SF
Total Parking Spaces
60
Property subtype
Commercial
Zoning
Medical
Additional Details
HOA Fee
$1,792
Highway Access
Yes
Office Units
7
Building Details
Building Size
1,024 SF
Year Built
1964
Buildings
1
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
Kl Sotheby's Int'l. Realty
Listed By:
Lidia S. Gabinelli · License #8437069
(908) 719-2500
Source:
Cammarotarealestate
Added: Jul 15, 2025
Changed: Oct 22
Last Checked: Oct 22 at 2:33PM
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 Kl Sotheby's Int'l. Realty
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Investment Insights
Based on property information with market context.
This 1,024-square-foot end-unit medical office suite was built in 1964 and is designated for medical use. Its layout includes a waiting area, reception, three exam rooms, a private office, storage, a kitchenette, a closet, and a powder room. Air conditioning is provided by separate units, and the building roof was replaced in 2021.
The suite is one of seven units in a 10,000-square-foot building. It is near parking and has direct access. Shared building services include heat, common-area electricity, water and sewer, insurance, maintenance, trash and recycling removal, snow removal, and landscaping.
Morristown Medical Center is 4.5 miles away, and Overlook Medical Center is 5.4 miles away. The property is near shops, restaurants, Rt. 78, and Rt. 287.
The suite is one of seven units in a 10,000-square-foot building. It is near parking and has direct access. Shared building services include heat, common-area electricity, water and sewer, insurance, maintenance, trash and recycling removal, snow removal, and landscaping.
Morristown Medical Center is 4.5 miles away, and Overlook Medical Center is 5.4 miles away. The property is near shops, restaurants, Rt. 78, and Rt. 287.
Key Highlights
- 1,024‑square‑foot medical office suite with end‑unit placement
- Interior includes three exam rooms, reception, waiting area, private office, storage, kitchenette, closet, and powder room
- One of 7 units in a 10,000‑square‑foot building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,667
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,340
$313.3K
Cap Rate 7%
$223,814
$223.8K
Cap Rate 9%
$174,078
$174.1K
Market Conditions
NOI Build-Up for 1,024 SF
Gross rent
$30.7K $30.00/SF
− Vacancy
−$9.8K −$9.60/SF
EGI
$20.9K $20.40/SF
− OpEx
−$5.2K −$5.10/SF
NOI
$15.7K $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%
$313,340
Cap Rate 7%
$223,814
Cap Rate 9%
$174,078
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 authorities.
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Property Analytics
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Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07940, NJ
18,403
Population
5,733
Households
3.2
Avg Household Size
34
Median Age
71%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
3,756
Density / Sq Mi
$168,520
Median Household Income
$53,352
Median Earnings
$2,248
Median Rent
$883,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Patient-facing layout includes reception, three exam rooms, a private office, and dedicated support areas.
Where is this medical office space located?
The property is located at 8 Shunpike Rd #4 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: 1,024‑square‑foot medical office suite with end‑unit placement; Interior includes three exam rooms, reception, waiting area, private office, storage, kitchenette, closet, and powder room; One of 7 units in a 10,000‑square‑foot building
