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    Property profile & analytics

    2 Ridgedale Ave Hanover, NJ 07927

    • Office buildings
    • 5.41 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Value Estimation
    Location Intelligence
    Property ID
    US59-1205748
    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

    • Avenues in Motion / Non-Profit Organization
    • Fran J Garb Law Office / Insurance Attorney
    • Health Mark Alliance / Public Health Department
    • PNC Bank ATM / Atm
    • Niraj Chhabra - Private Wealth Advisor, Ameriprise Financial Services, LLC / Investment Service / Financial Planner

    Property Details for 2 Ridgedale Ave

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    5.41 lot acres
    Zone code
    IP
    Property type
    Office buildings
    APN
    12 01101-0000-00002
    APU
    1201101000000002

    Description

    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.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Knolls
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4468
    Latitude
    40.8353
    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
    $182,970
    $1,427,800
    $7,572,200
    $9,000,000
    -
    $1,427,800
    $7,572,200
    $9,000,000

    Comparable in this City

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    Similar Nearby for Lease

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      Hanover, NJ Office Space Available

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    2 Ridgedale Ave
    Hanover, NJ 07927
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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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