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Property profile & analytics
OFF-MARKET Estimated value $2,100,000
Commercial real estate

225 Madison Ave Morristown, NJ 07960-6159

8,856 SF 0.7 ac lot Built 1986
Entity Owned 15-yr Hold ~ Est. High Equity
Property ID
US59-3143135
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1986
Construction BRICK
Total area 8,856 SF
Lot 0.7 ac (30,492 SF)
Zoning code B-11
APN 22 08301-0000-00007
UPID US59-3143135
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
  • World Insurance Associates LLC Insurance Agency
  • Lee III Ralph Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.21M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.10M
Owner & transaction history
225 Madison Avenue LLC · 15 yrs held
225 Madison Avenue LLC
since 2011
Last sale
$2.1M
1 recorded transaction
2011
$1.1M
Zoning & alternative use
B-11 · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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