Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    245 Littleton Rd Morris Plains, NJ 07950-2921

    • Grocery and convenience stores
    • 8.80 lot acres
    OFF-MARKET
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0400389
    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

    • Grocery and convenience stores

    Property Details for 245 Littleton Rd

    Lot size
    8.80 lot acres
    Zone code
    L
    Property type
    Grocery and convenience stores
    APN
    23 00171-0000-00046
    APU
    2300171000000046

    Description

    This exceptional retail space, located within a high-traffic Stop & Shop in Morris Plains, NJ (07950), offers 500 square feet of prime, front-of-store visibility. Benefit from the established customer base of a well-known grocery store, enjoying unparalleled access to thousands of weekly shoppers. The all-inclusive monthly fee covers real estate taxes, property insurance, CAM, and utilities, simplifying your operational costs. This "Store-Within-A-Store" concept provides excellent branding opportunities, with both interior and exterior signage options. The location boasts exceptional demographics within a thriving trade area. Ideal for service businesses, financial institutions, or health and wellness providers. This is a unique opportunity to establish your business in a high-traffic, convenient location. Note that food and beverage services, restaurants, and smoke shops are prohibited uses. The property is situated at 245 Littleton Rd, Morris Plains, NJ, in Morris County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $730,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morris Plains
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4636
    Latitude
    40.8422
    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
    $371,850
    $6,750,000
    $8,250,000
    $15,000,000
    -
    $6,750,000
    $8,250,000
    $15,000,000

    Comparable in this City

    • Value Estimation
      $545,000
      3,473 SF

      3010 State Rte 10

      FINANCIAL BUILDING • 3,473 SF
      3010 State Rte 10, Morris Plains, NJ 07950-3421
      View Details
    • Value Estimation
      $735,000
      10,700 SF

      636 Speedwell Ave

      FINANCIAL BUILDING • 10,700 SF
      636 Speedwell Ave, Morris Plains, NJ 07950-2229
      View Details
    • Value Estimation by Request
      5.00 Acres

      1705 State Rte 10

      FINANCIAL BUILDING • 5.00 Acres
      1705 State Rte 10, Morris Plains, NJ 07950
      View Details
    • Value Estimation
      $605,000
      2,612 SF

      453 Speedwell Ave

      FINANCIAL BUILDING • 2,612 SF
      453 Speedwell Ave, Morris Plains, NJ 07950-2138
      View Details
    • Value Estimation by Request
      8,400 SF

      3025 Rte 10

      Retail properties • 8,400 SF
      3025 Rte 10, Morris Plains, NJ 07950
      View Details
    • Value Estimation
      $1,310,000
      0.38 Acres

      290 Speedwell Ave

      GAS STATION • 0.38 Acres
      290 Speedwell Ave, Morris Plains, NJ 07950-2123
      View Details

    Similar Nearby for Sale

    • $30,000

      Turnkey Hair Salon Opportunity

      Turnkey hair salon in a high-traffic Parsippany location.
      981 Tabor Rd, Morris Plains, NJ 07950
      View Details
    • $998,000

      Turn-Key Restaurant in Downtown

      Freestanding restaurant with smokeless BBQ grill system and parking.
      650 Speedwell Ave, Morris Plains, NJ 07950
      View Details
    • $254,000

      Condominium with Resort-Style Amenities

      Bright 1-bedroom condo with convenient location and resort amenities.
      2467 22-6B, Morris Plains, NJ 07950
      View Details
    • $299,000

      Updated Corner Unit Apartment

      Second-floor apartment with updates, natural light, and hardwood floors.
      2467 24-6B, Morris Plains, NJ 07950
      View Details
    • $799,900

      Commercial Land For Sale

      Commercial land available for sale.
      9 Mccluskey Pl, Morris Plains, NJ 07950
      View Details
    • $128,000

      Land For Sale

      Land available for sale in Morris Plains Borough, New Jersey.
      972 Tabor Rd, Morris Plains, NJ 07950
      View Details

    Similar Nearby for Lease

    • $1,750 /Mo

      Retail/Office Space Near Train

      Desirable retail or office space near downtown and train.
      720 Speedwell Ave, Morris Plains, NJ 07950
      View Details
    • $1,750 /Mo
      6,970 SF

      Retail/Office Space Near Train

      Desirable retail/office space, walking distance to downtown and train.
      720 Speedwell Ave, Plainsboro, NJ 07950
      View Details
    • $782,750

      Morris Plains Commercial Property Available

      Commercial property available for rent in Morris Plains, New Jersey.
      540 Speedwell Ave, Plainsboro, NJ 07950
      View Details
    • Contact for pricing
      70,000 SF

      Pelican Plaza West Retail Space

      Prime Morris Plains Shopping Center Space
      2920 New Jersey 10, Morris Plains, NJ 07950
      View Details
    • Contact for pricing
      124,853 SF

      Crossings At 10 Retail Center

      Morris Plains, NJ: Prime Retail Space Available
      1625 Nj-10, Morris Plains, NJ 07950
      View Details
    • $3,600 /Mo

      Parsippany Ranch Home For Rent

      Well-maintained 3-bedroom ranch in Sedgefield, Parsippany, available immediately.
      37 Ferncliff Rd, Morris Plains, NJ 07950
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    245 Littleton Rd
    Morris Plains, NJ 07950-2921
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.