155 Main St Madison, NJ 07940-2156
- Commercial real estate
- 1,419 SF
- 0.37 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 155 Main St
- Year built
- 1900
- Construction
- FRAME
- Lot size
- 0.37 lot acres
- Property size
- 1,419 SF
- Zone code
- GBA
- Property type
- Commercial real estate
- APN
- 17 02601-0000-00021
- APU
- 1702601000000021
Description
This exceptional two-story building, located in Morris County, offers 1,490 square feet of versatile office space, ideal for a variety of uses. The layout includes five private offices; two conveniently situated on the ground floor and three on the upper level, providing flexibility for different team sizes or departmental needs. A dedicated kitchen area adds convenience for staff and clients. The single-tenant occupancy ensures privacy and control over the entire space. The building's classification encompasses Executive Office, Coworking, Medical Office, Creative Office, and Traditional Office uses, making it suitable for a wide range of businesses. This property presents a unique opportunity to acquire a well-maintained, functional space in a desirable Morris County location. The building's design is adaptable to various business configurations, allowing for customization to meet specific operational requirements. The property's size and layout offer an excellent balance between privacy and collaborative work environments. The inclusion of a kitchen area enhances the overall functionality and convenience of the space. This is a rare opportunity to secure a well-positioned, versatile office building in a thriving Morris County market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $375,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $510,000
- 6.5%
- $485,000
- 7%
- $480,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $560,000
- Geo Method
- $485,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $525,000
- Retail
- $460,000
- Mixed-Use
- $430,000
- Hospitality
- $455,000
- Educational
- $440,000
- Residential Income
- $465,000
- Energy
- $410,000
- Income-Based Land
- $555,000
- Food Service
- $490,000
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Morris
- State
- New Jersey
- Longitude
- -74.4098
- Latitude
- 40.7552
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA