161 Madison Ave Morristown, NJ 07960-7364
Property profile & analytics
161 Madison Ave, Morristown, NJ 07960-7364
- Office buildings
- 84,240 SF
- 6.60 lot acres
Property ID
US59-3117609
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.
Location Intelligence
Current Use by Public Records
- Cornerstone Financial Associates / Financial Advisor
- Community Federal Savings Bank / Bank / Loan Service
- Cornerstone Real Estate Group / Real Estate Agency
- PNC Mortgage / Loan Service / Bank
- Alterra Home Loans / Loan Service / Bank
Property Details for 161 Madison Ave
- Lot size
- 6.60 lot acres
- Zone code
- R-2
- Property type
- Office buildings
- APN
- 24 01402-0000-00003
- APU
- 2401402000000003
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 14, 2023 | $21,500,000 | Eli Madison LLC | 161 163 Madison Avenue LLC | Deed | $15M · Peapack Gladstone Bank |
| Jul 14, 2017 | — | Turtle Road LLC | Town Of Morristown | Grant Deed · related | — |
| Jul 29, 2009 | — | 161-163 Madison Avenue LLC | Northeast Office Assocs LLC | Deed In Lieu Of Foreclosure · related | — |
| Dec 1, 2008 | — | Northeast Office Assocs LLC | Northeast Office Assocs LLC | Quit Claim Deed · related | — |
| Nov 3, 2006 | $1,524,600 | Northeast Office Associates Ll | Brounell,lois | Grant Deed | — |
| Nov 3, 2006 | $5,838,525 | Northeast Office Associates Ll | Richard,lisa B | Grant Deed | — |
| Nov 3, 2006 | $462,459 | Lois Brounell | Morristown Plaza Associates Ll | Grant Deed | — |
| Nov 3, 2006 | $788,282 | Rita K Waldor | Morrstown Plaza Associates LLC | Grant Deed | — |
| Nov 3, 2006 | $1,771,008 | Lisa B Richards | Morristown Plaza Associates Ll | Grant Deed | — |
| Nov 3, 2006 | $7,363,125 | Northeast Office Associates Ll | Morristown Plaza Asscates LLC | Grant Deed | — |
| Nov 3, 2006 | $2,598,750 | Northeast Office Assciates LLC | Waldor,rita K | Grant Deed | — |
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $11,880,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $22,915,000
- 6.5%
- $21,150,000
- 7%
- $19,640,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $14,288,000
- AI Estimate
- $12,242,000
Market price range: $14.3M - $22.5MMarket price range: $7.82M - $26.9M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $17,640,000 Current use
- COMMERCIAL (GENERAL)
- $27,405,000 Change: +55% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $15,060,000 Change: -15% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Morristown
- County
- Morris
- State
- New Jersey
- Longitude
- -74.4589
- Latitude
- 40.7878
- 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
2022
$389,090
$5,862,000
$7,138,000
$13,000,000
-
$5,862,000
$7,138,000
$13,000,000
