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Property profile & analytics
FOR LEASE
Office buildings

2 Ridgedale Ave Cedar Knolls, NJ 07927

5.41 ac lot Built 1972
Entity Owned 27-yr Hold Absentee Owner Free & Clear
Property ID
US59-1205748
Property summary
AI-generated overview

This exceptional three-story office building, located at 2 Ridgedale Ave, Hanover, NJ 07927, presents a below-market opportunity for discerning tenants. Boasting 70,000 square feet of Class B office space, this well-maintained property offers a blend of traditional and executive office suites, perfect for a variety of business needs. The building features ample parking with 400 spaces, ensuring convenient access for employees and clients. Two high-speed elevators efficiently service all three floors. Situated near Route 10 and with a cross street of Route 10, this location provides excellent accessibility and visibility. Built in 1975, the building benefits from ongoing maintenance and a motivated ownership. Two units are currently available for lease, offering flexible lease terms to accommodate individual business requirements. The asking rental rate is a competitive $17 per square foot, plus tenant-paid electricity. A significant advantage is the inclusion of cleaning services within the rental rate. This presents a truly compelling opportunity in Morris County's most valuable office space. Don't miss this chance to secure a prime location at an exceptional price point.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1972
Construction CONCRETE BLOCKS
Lot 5.41 ac (235,703 SF)
Zoning code IP
APN 12 01101-0000-00002
UPID US59-1205748
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Avenues in Motion Charitable Organization Social Service Agency
  • Fran J Garb Law Office Law Firm Insurance Agency
  • Health Mark Alliance Public Health Department
  • PNC Bank ATM Atm
  • Niraj Chhabra - Private Wealth Advisor, Ameriprise Financial Services, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$580k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$580k
Owner & transaction history
EL 2 RIDGEDALE AVENUE INC
EL 2 RIDGEDALE AVENUE INC
Zoning & alternative use
IP · Cedar Knolls, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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