End-Unit Medical
For Sale
$275,000
8 Shunpike #9, Madison, NJ 07940
Updated suite offers exam rooms, reception space, a private office, and kitchenette for medical or dental practice.
Property Size1,024 SF
Price / SF$268.55
Days on Market219
Property Features for 8 Shunpike #9
General Information
Standard status
Active
Size
1,024 SF
Total Parking Spaces
50
Property subtype
Commercial
Zoning
Medical
Additional Details
HOA Fee
$1,792
Building Details
Building Size
1,024 SF
Year Built
1964
Year Renovated
2025
Buildings
1
Stories
2
Units
7
Listing Agency:
Coldwell Banker Realty
(908) 522-1800
Listed By:
Christine Layng
(908) 380-0933
Source:
Cammarotarealestate
Added: Mar 19
Changed: Oct 22
Last Checked: Oct 22 at 2:17PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 1,024-square-foot end unit was updated in 2025 and is limited to medical or dental use. Its layout includes a waiting area, reception office, three to four exam rooms, a private office, kitchenette, bathroom, and a lockable closet. The suite has gas forced-air heat and packaged air conditioning. The building contains seven units, operates under a partnership agreement, and has a flat roof with a wood deck and tar covering, replaced in 2021.
The property is close to Morristown Memorial and Overlook Hospitals, as well as shops and restaurants. Routes 24, 78, and 287 are also nearby.
The property is close to Morristown Memorial and Overlook Hospitals, as well as shops and restaurants. Routes 24, 78, and 287 are also nearby.
Key Highlights
- 1,024‑square‑foot medical office updated in 2025
- End unit in a seven‑unit building with a partnership agreement
- Layout includes a waiting area, reception office, 3‑4 exam rooms, private office, kitchenette, bathroom, and lockable closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,667
Cap Rate
5.70%
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 5.70%
Second Best
Healthcare Medical
$217.8K
$190.6K – $254.1K
NOI $15,247 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$267.4K
$234.0K – $312.0K
NOI $18,717 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Under-served
Demand for This Use
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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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated suite offers exam rooms, reception space, a private office, and kitchenette for medical or dental practice.
Where is this medical office space located?
The property is located at 8 Shunpike #9 Madison, NJ.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,024‑square‑foot medical office updated in 2025; End unit in a seven‑unit building with a partnership agreement; Layout includes a waiting area, reception office, 3‑4 exam rooms, private office, kitchenette, bathroom, and lockable closet
