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    175 Morris Ave Springfield, NJ 07081

    Sponsored
    For Sale
    Contact for pricing

    Prime Medical Office Space - 3,000 SF

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3,000 square foot medical office building, located at 175 Morris Avenue in Springfield, New Jersey (Union County, zip code 07081), presents a unique investment opportunity. The property sits on a 0.18-acre lot and boasts a four-story structure. The building offers ample parking, a significant advantage for both patients and staff. The building footprint measures approximately 18,254 square feet, with a 60% building coverage and 81% lot coverage. The property's strategic location provides convenient access to a variety of amenities, including restaurants, a pharmacy, banks, a grocery store, and the nearby Short Hills Mall. Public transportation is readily available, with a nearby NJ Transit bus stop (route 114) offering direct access to New York City. Annual property taxes are $30,027.81 (2024). This versatile property is ideal for a variety of medical practices, offering significant potential for growth and profitability. The building's existing structure allows for the potential to fully utilize all four stories. This is a rare opportunity to acquire a well-situated medical office building in a thriving New Jersey community.

    Property Features for 175 Morris Ave

    General Information

    Property type
    Medical offices
    Square Feet
    3,000 SF
    Lot Size
    7,841 SF

    Building Details

    Stories
    4

    HighLights

    • 3,000 SF medical office building.
    • Four‑story building with potential for full utilization.
    • 60% building coverage and 81% lot coverage on a 0.18‑acre lot.
    • ±18,254 SF building footprint.
    • Ample parking.
    • 2024 property taxes: $30,027.81.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.3089276
    Latitude
    40.7104626

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Space - 3,000 SF
    Where is this medical office located?
    The property is located at 175 Morris Ave Springfield, NJ.
    What are key features of this property?
    This property features: 3,000 SF medical office building.; Four-story building with potential for full utilization.; 60% building coverage and 81% lot coverage on a 0.18-acre lot.
    Request Owner's contact information
    175 Morris Ave Springfield, NJ 07081
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    Springfield, NJ 07081
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    175 Morris Ave Springfield, NJ 07081
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