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    3175 Rte 10 Denville, NJ 07834

    • Office Properties & Spaces
    • 4.30 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 3175 Rte 10

    Year built
    2001
    Lot size
    4.30 lot acres
    Property type
    Office Properties & Spaces

    Description

    This exceptional medical office space, located at 3175 Route 10, Unit 500 in Denville, NJ, presents a unique opportunity for medical professionals. Situated on the first floor, this versatile space offers 1,655 square feet (60%) or 1,085 square feet (40%), allowing for flexible configurations to suit various practice needs. The property is fully equipped with complete medical furnishings, IT equipment, security alarms, computers, and telephones, eliminating the need for significant upfront investment. The convenient location provides easy access from both eastbound and westbound Route 10 traffic, ensuring excellent patient accessibility. Its proximity to major highways, restaurants, and shops further enhances its appeal. The property sits on a 4.3-acre lot, offering ample parking and a professional environment. This is a triple net (NNN) lease, with current tax and common area maintenance (CAM) charges totaling $1,676 per month, resulting in a total cost of $26.09 per square foot. This represents a significant value for a fully equipped, move-in ready medical office suite in a highly desirable location. The space is ideal for a variety of medical practices seeking a well-appointed and easily accessible location.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Denville
    County
    Morris
    State
    New Jersey
    Longitude
    -74.5241
    Latitude
    40.8724

    Comparable in this City

    • Value Estimation
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      1,141 SF

      3125 Rte 10

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    • Value Estimation
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      75 Bloomfield Ave

      CONDOMINIUM OFFICES • 945 SF
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    • Value Estimation
      $335,000
      1,508 SF

      3125 State Rte 10

      CONDOMINIUM OFFICES • 1,508 SF
      3125 State Rte 10, Denville, NJ 07834-3493
      View Details
    • Value Estimation
      $330,000
      1,174 SF

      75 Bloomfield Ave

      CONDOMINIUM OFFICES • 1,174 SF
      75 Bloomfield Ave, Denville, NJ 07834-2735
      View Details
    • Value Estimation
      $215,000
      950 SF

      75 Bloomfield Ave

      CONDOMINIUM OFFICES • 950 SF
      75 Bloomfield Ave, Denville, NJ 07834-2735
      View Details
    • Value Estimation
      $240,000
      1,400 SF

      3125 Rte 10

      CONDOMINIUM OFFICES • 1,400 SF
      3125 Rte 10, Denville, NJ 07834-3493
      View Details

    Similar Nearby for Sale

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      Downtown Denville Retail/Office Space

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    3175 Rte 10
    Denville, NJ 07834
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
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