Two-Story Office
For Sale
Contact for pricing
80 Morris Ave, Springfield, NJ 07081
Office property with separate entrances, on-site parking, and access to major highways.
Property Size8,000 SF
Price / SF$262.50
Days on Market189
Property Features for 80 Morris Ave
General Information
Standard status
Active
Size
8,000 SF
Class
B
Total Parking Spaces
30
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1955
Year Renovated
1983
Buildings
1
Stories
2
Building Size
8,000 SF
Listing Agency:
Chilmark Real Estate Services
Listed By:
Michael Marchese · License #444444
Source:
Crexi
Added: Apr 9
Changed: Oct 14
Last Checked: Oct 12 at 6:12PM
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 Chilmark Real Estate Services
Investment Insights
Based on property information with market context.
This two-story office building contains 8,000 square feet and was built in 1955. Two separate entrances support distinct access points within the property, while on-site parking accommodates 30 cars.
The building is located on Morris Ave in Springfield, New Jersey, with access to all major highways. Its two-level configuration and existing parking provide a practical foundation for office use.
The building is located on Morris Ave in Springfield, New Jersey, with access to all major highways. Its two-level configuration and existing parking provide a practical foundation for office use.
Key Highlights
- 8,000‑square‑foot office building
- Two‑story configuration with 2 separate entrances
- On‑site parking for 30 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,400
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,448,000
$2.4M
Cap Rate 7%
$1,748,571
$1.7M
Cap Rate 9%
$1,360,000
$1.4M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$240.0K $30.00/SF
− Vacancy
−$76.8K −$9.60/SF
EGI
$163.2K $20.40/SF
− OpEx
−$40.8K −$5.10/SF
NOI
$122.4K $15.30/SF
Area
Union 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%
$2,448,000
Cap Rate 7%
$1,748,571
Cap Rate 9%
$1,360,000
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,400 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,225
Businesses Nearby
Explore this area
Business Placement
Demographics for 07081, NJ
17,200
Population
6,844
Households
2.5
Avg Household Size
43
Median Age
64%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
3,308
Density / Sq Mi
$146,059
Median Household Income
$70,781
Median Earnings
$2,135
Median Rent
$590,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Office property with separate entrances, on-site parking, and access to major highways.
Where is this office building located?
The property is located at 80 Morris Ave Springfield, NJ.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 8,000‑square‑foot office building; Two‑story configuration with 2 separate entrances; On‑site parking for 30 cars
