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Property profile & analytics
FOR SALE
Commercial real estate

236 Millbrook Ave Randolph, NJ 07869

1,629 SF 1.61 ac lot Built 1800
Individually Owned 28-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US59-0171343
Property summary
AI-generated overview

This exceptional commercial property, located at 236 Millbrook Ave, Unit 3L, Randolph, NJ, offers 6,600 square feet of meticulously renovated space within a historically significant building. Completed in 2011, the renovation ensured the preservation of the building's character while incorporating modern amenities. The property boasts an abundance of natural light, thanks to its large, attractive windows, creating a bright and welcoming atmosphere ideal for a variety of professional uses. Its suitability for law firms, accounting practices, insurance agencies, or medical offices is particularly noteworthy. Situated on a 1.61-acre lot, this property provides ample space and parking. The current long-term tenants generate a consistent rental income stream, presenting a compelling investment opportunity for an owner-operator seeking to establish their own practice while simultaneously benefiting from passive income. The property's prime location in Randolph, NJ, further enhances its appeal and potential for growth. This is a rare chance to acquire a well-maintained, income-producing commercial property in a desirable location. The building's elegant design and functional layout combine to create a truly exceptional commercial space. The asking price is $1,800,000.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1800
Construction FRAME
Total area 1,629 SF
Lot 1.61 ac (70,132 SF)
Zoning code B-2
APN 32 00145-0000-00059
UPID US59-0171343
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
  • Law Advocates LLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Schoolhouse Plaza Ltd · 28 yrs held
Schoolhouse Plaza Ltd
since 1998
4 recorded transactions
2024
Price N/A
2024
Price N/A
2022
Price N/A
1998
$440,000
Zoning & alternative use
B-2 · Randolph, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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