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    Property profile & analytics

    1395 State Rt 23 Butler, NJ 07405

    • Office Properties & Spaces
    • 0.13 lot acres
    For Sale
    View listing
    $295,000
    Value Estimation
    Location Intelligence
    Property ID
    US59-2172532
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 1395 State Rt 23

    Lot size
    0.13 lot acres
    Zone code
    HC
    Property type
    Office Properties & Spaces
    APN
    03 00093- 01-00004- 03-C0004
    APU
    0300093010000403C0004

    Description

    This exceptional 1,000+ square foot office suite presents a fantastic investment opportunity in a high-traffic location on State Route 23 South in Butler, NJ. Situated on a 0.12-acre lot, this first-floor unit boasts exceptional visibility thanks to its road signage. Previously utilized as a doctor's office, the adaptable layout is ideal for a variety of professional uses, including dental, legal, or other medical practices. The space includes a welcoming reception area, a secretary's office with three workstations, three exam rooms, two consultation rooms, a dedicated lab room, a convenient kitchenette, ample storage, and two and a half bathrooms. The property features numerous upgrades, including newer cabinetry throughout, a recently installed HVAC system with central air conditioning and heating, and a newer roof. The large on-site parking lot ensures convenient access for clients and staff. This move-in ready office suite offers a blend of functionality, modern amenities, and a prime location, making it an attractive proposition for discerning business owners. Its accessibility features cater to a wide range of potential occupants. The property's central location provides easy access to various amenities and services.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $295,000

    • CAP approach

      CAP return
      Estimation
      6%
      $345,000
      6.5%
      $370,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $370,000
      Geo Method
      $360,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $305,000
      Retail
      $360,000
      Mixed-Use
      $350,000
      Hospitality
      $390,000
      Educational
      $375,000
      Residential Income
      $400,000
      Energy
      $420,000
      Income-Based Land
      $425,000
      Food Service
      $380,000

    Location Insight

    • Map
    • Local Demand
    City
    Butler
    County
    Morris
    State
    New Jersey
    Longitude
    -74.3524
    Latitude
    40.9956
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,829
    $56,900
    $242,700
    $299,600
    -
    $56,900
    $242,700
    $299,600

    Comparable in this City

    • Value Estimation by Request
      15,000 SF

      1250 Nj-23

      Office Properties & Spaces • 15,000 SF
      1250 Nj-23, Butler, NJ 07405
      View Details
    • Value Estimation by Request
      1,500 SF

      1395 Nj-23

      Medical offices • 1,500 SF
      1395 Nj-23, Butler, NJ 07405
      View Details
    • Value Estimation
      $310,000
      0.13 Acres

      1395 State Rt 23

      CONDOMINIUM OFFICES • 0.13 Acres
      1395 State Rt 23, Butler, NJ 07405-1732
      View Details
    • Value Estimation
      $330,000
      0.13 Acres

      1395 State Rt 23

      CONDOMINIUM OFFICES • 0.13 Acres
      1395 State Rt 23, Butler, NJ 07405-1732
      View Details
    • Value Estimation
      $345,000
      0.13 Acres

      1395 State Rt 23

      CONDOMINIUM OFFICES • 0.13 Acres
      1395 State Rt 23, Butler, NJ 07405-1732
      View Details
    • Value Estimation
      $365,000
      0.13 Acres

      1395 State Rt 23

      CONDOMINIUM OFFICES • 0.13 Acres
      1395 State Rt 23, Butler, NJ 07405-1732
      View Details

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    Butler, NJ 07405
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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
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