225 Madison Ave Morristown, NJ 07960-6159
Property profile & analytics
225 Madison Ave Morristown, NJ 07960-6159
- Commercial real estate
- 8,856 SF
- 0.70 lot acres
Property ID
US59-3143135
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
- World Insurance Associates LLC / Insurance Agency
- Lee III Ralph / Insurance Agency
Property Details for 225 Madison Ave
- Year built
- 1986
- Construction
- BRICK
- Lot size
- 0.70 lot acres
- Property size
- 8,856 SF
- Zone code
- B-11
- Property type
- Commercial real estate
- APN
- 22 08301-0000-00007
- APU
- 2208301000000007
Description
This exceptional 8,856 square foot freestanding office building presents a compelling investment opportunity in Morristown, NJ. Strategically located just outside the vibrant downtown area, with convenient access to Route 24 and I-287, this property offers significant advantages. Currently fully occupied by World Insurance under a lease extending until June 30, 2027, this building generates immediate income. The spacious interior boasts a large reception area, private offices across three floors, open workspaces adaptable to various configurations, multiple conference rooms, and six restrooms (two per floor). Recent upgrades include new carpeting throughout. The building is well-equipped with six air conditioning and heating units, ensuring a comfortable work environment, and ample power is available. On-site parking is plentiful, with 37 surface spaces. The 0.7-acre lot provides ample room for expansion or future development. Detailed lease documents and expense reports are available upon request. This property is ideal for both investors seeking a strong return and end-users requiring substantial, well-maintained office space. Don't miss this chance to acquire a prime commercial property in a thriving New Jersey market.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,000,000
- ML approach
- $2,210,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Morristown
- County
- Morris
- State
- New Jersey
- Longitude
- -74.4536
- Latitude
- 40.7853
- 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
$33,924
$762,300
$974,700
$1,737,000
-
$762,300
$974,700
$1,737,000
