Office Building for
For Sale
$879,000
891 Tabor Road, Morris Plains, NJ 07950
For sale office building totaling 3,405 SF at 891 Tabor Road in Morris Plains, NJ.
Property Size3,405 SF
Price / SF$258.15
Days on Market52
Property Features for 891 Tabor Road
General Information
Standard status
Active
Size
3,405 SF
Property subtype
Office
Building Details
Building Size
3,405 SF
Year Built
1952
Listing Agency:
Lee & Associates | Whippany
(973) 214-9733
Listed By:
Erica Davidson
(973) 214-9733
Source:
Lee-associates
Added: Jul 10
Changed: Aug 7
Last Checked: Aug 30 at 2:07PM
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 Lee & Associates | Whippany
Investment Insights
Based on property information with market context.
This for-sale office building offers a total of 3,405 SF and is presented at 891 Tabor Road, Morris Plains, NJ 07950. The offering is structured for parties seeking an office property with an established building size.
The building is listed for $875,000. Additional details such as interior layout, condition, and tenancy were not provided in the information available.
The building is listed for $875,000. Additional details such as interior layout, condition, and tenancy were not provided in the information available.
Key Highlights
- Office building for sale at 891 Tabor Road, Morris Plains, NJ
- Total building size: 3,405 SF
- Year built: 1952
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,097
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,041,940
$1.0M
Cap Rate 7%
$744,243
$744.2K
Cap Rate 9%
$578,856
$578.9K
Market Conditions
NOI Build-Up for 3,405 SF
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.
Gross rent
$102.2K $30.00/SF
− Vacancy
−$32.7K −$9.60/SF
EGI
$69.5K $20.40/SF
− OpEx
−$17.4K −$5.10/SF
NOI
$52.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,041,940
Cap Rate 7%
$744,243
Cap Rate 9%
$578,856
Alternative Uses
Best Use
Office B
$744.2K
$651.2K – $868.3K
NOI $52,097 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$889.1K
$778.0K – $1.04M
NOI $62,238 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Explore this area
Business Placement
Demographics for 07950, NJ
21,459
Population
8,460
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
96%
High-School Grad
9.1 sq mi
ZIP Area
2,358
Density / Sq Mi
$148,469
Median Household Income
$80,217
Median Earnings
$2,549
Median Rent
$571,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - For sale office building totaling 3,405 SF at 891 Tabor Road in Morris Plains, NJ.
Where is this office building located?
The property is located at 891 Tabor Road Morris Plains, NJ.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Office building for sale at 891 Tabor Road, Morris Plains, NJ; Total building size: 3,405 SF; Year built: 1952
