225 Madison Ave Morristown, NJ 07960-6159
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.
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World Insurance Associates LLC Insurance Agency
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Lee III Ralph Insurance Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
B-11 · Morristown, NJMorristown. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.