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    Property profile & analytics

    164 Parsippany Rd Parsippany, NJ 07054-4708

    • Office Properties & Spaces
    • 1,840 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimation
    $375,000
    Location Intelligence
    Property ID
    US59-0119337
    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

    • Greenhill Pharmacy / Pharmacy / Drug Store
    • Kushan Shah / Pharmacy

    Property Details for 164 Parsippany Rd

    Lot size
    0.03 lot acres
    Property size
    1,840 SF
    Zone code
    B-3
    Property type
    Office Properties & Spaces
    APN
    29 00387-0000-00001- 06
    APU
    290038700000000106

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $360,000

    • CAP approach

      CAP return
      Estimation
      6%
      $445,000
      6.5%
      $495,000
      7%
      $445,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $400,000
      Geo Method
      $445,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $375,000
      Retail
      $495,000
      Mixed-Use
      $370,000
      Hospitality
      $475,000
      Educational
      $450,000
      Residential Income
      $500,000
      Energy
      $485,000
      Income-Based Land
      $445,000
      Food Service
      $395,000

    Location Insight

    • Map
    • Local Demand
    City
    Parsippany
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4264
    Latitude
    40.8597
    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
    $8,260
    $124,000
    $129,000
    $253,000
    -
    $124,000
    $129,000
    $253,000

    Comparable in this City

    • Value Estimation
      $245,000
      1,164 SF

      255 Baldwin Rd

      CONDOMINIUM OFFICES • 1,164 SF
      255 Baldwin Rd, Parsippany, NJ 07054-7501
      View Details
    • Value Estimation by Request
      8,016 SF

      1735 Us Hwy 46

      CONDOMINIUM OFFICES • 8,016 SF
      1735 Us Hwy 46, Parsippany, NJ 07054-2913
      View Details
    • Value Estimation
      $270,000
      1,164 SF

      249 Baldwin Rd

      CONDOMINIUM OFFICES • 1,164 SF
      249 Baldwin Rd, Parsippany, NJ 07054-7500
      View Details
    • Value Estimation
      $320,000
      1,579 SF

      22nd Hl Rd

      CONDOMINIUM OFFICES • 1,579 SF
      22nd Hl Rd, Parsippany, NJ 07054-1072
      View Details
    • Value Estimation
      $355,000
      2,320 SF

      184 Parsippany Rd

      CONDOMINIUM OFFICES • 2,320 SF
      184 Parsippany Rd, Parsippany, NJ 07054-4708
      View Details
    • Value Estimation
      $225,000
      1,164 SF

      239 Baldwin Rd

      CONDOMINIUM OFFICES • 1,164 SF
      239 Baldwin Rd, Parsippany, NJ 07054-7503
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Redevelopment opportunity with easy access to major interchanges.
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      Condo in Busy Strip Mall

      Condo in busy strip mall leased by anchor tenant.
      170 Parsippany Rd, Parsippany, NJ 07054
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      Medical Laboratory Business Opportunity

      Medical laboratory business for sale with multiple state licenses.
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    Similar Nearby for Lease

    • $23 SF/Yr
      56,455 SF

      Executive Office Space in Parsippany, NJ

      Class B Office Building, 3 Suites Available
      7 Entin Rd, Parsippany-Troy Hills, NJ 07054
      View Details
    • $21 SF/Yr
      54,619 SF

      Parsippany Office Space Available

      Modern Morris County office suites, 138-8,417 sq ft.
      3219 Us-46, Parsippany-Troy Hills, NJ 07054
      View Details
    • $22 SF/Yr
      6,279 SF

      Office Space with Shared Amenities

      Office space featuring shared waiting areas and conference rooms.
      90 E Halsey Rd, Parsippany, NJ 07054
      View Details
    • $26 SF/Yr
      2,506 SF

      Spacious Parsippany Office Building

      LEED-certified office building with modern amenities and excellent highway access.
      5 Woodhollow Rd, Parsippany, NJ 07054
      View Details
    • Contact for pricing
      37,031 SF

      Versatile Office Space with Amenities

      Office space featuring training areas, conference center, cafe, and fitness.
      8 Sylvan Way, Parsippany, NJ 07054
      View Details
    • Contact for pricing
      172,498 SF

      Class A Office Space

      Class A office space with easy access to major routes.
      35 Waterview Blvd, Parsippany, NJ 07054
      View Details
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    Parsippany, NJ 07054-4708
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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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