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    Updated Medical Office End Unit Title is generated by Realmo AI

    8 Shunpike, Madison, NJ 07940

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    For Sale
    $300,000

    Updated medical office end unit near hospitals and major routes.

    Type:Commercial
    Property size:
    1,024 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $292/SF
    Added:
    Mar 24, 2026
    Days on Market:
    106
    Last Refresh:
    Jul 2 at 8:56 am

    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

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    CHRISTINE LAYNG

    Listing office

    Listing date Mar 24, 2026

    Source Elliman

    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

    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.
    • Monthly fee covers maintenance, utilities, and insurance.
    • Convenient access to routes 24, 78, and 287.
    • New roof installed in 2021.

    Overview

    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.

    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 (±1% cap)
    NOI $15,667 @ 7.0% cap · market cap 5.22%
    Second Best
    Healthcare Medical
    $217.8K
    $190.6K – $254.1K (±1% cap)
    NOI $15,247 @ 7.0% cap · market cap 5.08%
    Theoretical Best
    Office A
    $267.4K
    $234.0K – $312.0K (±1% cap)
    NOI $18,717 @ 7.0% cap · market cap 6.24%
    Zoning and permitted uses should be independently verified with local authorities.
    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

    Suggested Use

    Real Estate Agency Hair Salon Restaurant Spa & Massage Center Skin Care Clinic Big Box & Wholesale Store Department Store Accounting Firm Grocery & Convenience Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Veterinary Dentistry Specialists — 240 Main St, Madison, NJ 07940
    • Trapp, Inc — 83 Pomeroy Rd, Madison, NJ 07940

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4289929
    Latitude
    40.7460372

    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.**
    More about this property
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