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    2 Ridgedale Ave Hanover, NJ 07927

    Sponsored
    For Lease
    $17 SF/Yr

    Prime Hanover location, two units available.

    Lot size:
    70,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional three-story office building, located at 2 Ridgedale Ave, Hanover, NJ 07927, presents a below-market opportunity for discerning tenants. Boasting 70,000 square feet of Class B office space, this well-maintained property offers a blend of traditional and executive office suites, perfect for a variety of business needs. The building features ample parking with 400 spaces, ensuring convenient access for employees and clients. Two high-speed elevators efficiently service all three floors. Situated near Route 10 and with a cross street of Route 10, this location provides excellent accessibility and visibility. Built in 1975, the building benefits from ongoing maintenance and a motivated ownership. Two units are currently available for lease, offering flexible lease terms to accommodate individual business requirements. The asking rental rate is a competitive $17 per square foot, plus tenant-paid electricity. A significant advantage is the inclusion of cleaning services within the rental rate. This presents a truly compelling opportunity in Morris County's most valuable office space. Don't miss this chance to secure a prime location at an exceptional price point.

    Property Features for 2 Ridgedale Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    70,000 SF
    Class
    B
    Total Rate
    99166.67

    Building Details

    Year Built
    1975
    Stories
    3

    Unit(s) available at that property

    Space
    3rd Floor, Ste 350
    Size
    2,484 SF
    Rate per SF
    $17
    Space
    Suite 206
    Size
    1,435 SF
    Rate per SF
    $17

    HighLights

    • Exceptional three‑story, 70,000 SF Class B office building in Hanover, NJ.
    • Prime location at Route 10 & Ridgedale Ave intersection, offering excellent visibility and highway access.
    • Ample on‑site parking (400 spaces).
    • Easy access to major highways.
    • Below‑market rental rate of $17/SF, plus electricity; cleaning services included.
    Property Profile Location Intelligence

    Current Use by Public Records

    Avenues in Motion Non-Profit Organization Fran J Garb ... Insurance Attorney Health Mark Alliance Public Health Department PNC Bank ATM Atm Niraj Chhabra - Private ... Financial Planner

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Morris
    State
    New Jersey
    Longitude
    -74.446596
    Latitude
    40.8355886

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Hanover location, two units available.
    Where is this office property / space located?
    The property is located at 2 Ridgedale Ave Hanover, NJ.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Exceptional three-story, 70,000 SF Class B office building in Hanover, NJ.; Prime location at Route 10 & Ridgedale Ave intersection, offering excellent visibility and highway access.; Ample on-site parking (400 spaces).
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    2 Ridgedale Ave Hanover, NJ 07927
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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
    2 Ridgedale Ave Hanover, NJ 07927
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