Property profile

150 Morristown Rd Bernardsville, NJ 07924

OFF-MARKET
Office buildings
Property ID
US59-3194366
3.05 ac lot
Individually Owned 3-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional two-story office building, totaling 56,000 square feet, offers a variety of flexible spaces ideal for businesses seeking a prestigious location. Three spaces are currently available, ranging from 3,000 to 8,547 contiguous square feet, with a total of 11,547 square feet currently vacant. The building boasts a striking architectural design featuring a curtain wall of buff-colored aluminum panels, bronze-tinted windows, and a two-story glass atrium entrance with ample seating. Situated on 3.053 landscaped acres, including a natural pond, the property provides a tranquil and attractive setting. A 2007 renovation encompassed new HVAC systems, bathrooms, landscaping, parking lot sealing, and updated common areas with new paint, wood, carpet, and wall coverings. The lobby features architecturally detailed furnishings, skylights, and recessed and pendant lighting. Elevators include recessed lighting and cherry wood paneling, while restrooms feature ceramic tile, polished Corian counters, and acoustic tile ceilings. Conveniently located near I-78 and I-287, this property offers easy access to New Jersey Transit, local amenities, and numerous restaurants. The building's design and recent renovations create a modern and comfortable workspace, perfect for companies seeking office suites of various sizes.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Lot 3.05 ac (132,858 SF)
Zoning code D-G
APN 03 00062-0000-00004- 03
UPID US59-3194366

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Law Firm
  • Law Firm
  • Physician Medical Clinic
  • Physician Medical Clinic

Location

150 Morristown Rd Bernardsville, NJ 07924-2626
Bernardsville metro Census 52702 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$265k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$265k

Owner & transaction history

since 2022
6 recorded transactions
2022
Price N/A
2022
$7.8M
2009
$5.9M
2006
$9.2M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

D-G · Bernardsville, NJ
Zoning description

Downtown Gateway Subdistrict (D-G). 1. Description and Intent. The Downtown Gateway subdistrict extends along Morristown Road near its intersection with Finley and east to the Borough limits near Madisonville Road. This…

General category CIVIC_INSTITUTIONAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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