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Property profile & analytics
FOR LEASE
Commercial real estate
25 Hanover Rd Florham Park, NJ 07932
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-3112685
For Lease
1 / 2
$19.50 SF/Yr
25 Hanover Rd, Florham Park, NJ 07932
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1976
Lot
12.27 ac (534,307 SF)
Zoning code
PB-2
APN
11 00901-0000-00008
UPID
US59-3112685
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
-
Carisk Corporate Office
-
FedEx Drop Box Postal Service Courier Service
-
The Klein Group LLC Real Estate Agency
-
MedAfford Global Physician
-
Roque Mental Health Counseling LLC Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.67M
Owner & transaction history
Glf Hanover Office LLC · 3 yrs held
Glf Hanover Office LLC
since 2022
Last sale
$10.8M
5 recorded transactions
Zoning & alternative use
PB-2 · Florham Park, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Florham Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Florham Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$12,190,000
ML approach
$10,340,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$10.67M
Range $9.60M – $11.74M · ±10% · vs last sale $10.83M (Jul 27 2022)
Last sale anchor
$10.83M
Jul 27 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$228,188
Tax year 2022
Assessed value
$14,155,600
Assessed 2023
Previous assessed
$14,155,600
+0.0% YoY
Effective rate
1.61%
On assessed value
Assessed land
$2,026,600
Assessed improvement
$12,129,000
Land market value
$2,026,600
Improvement market value
$12,129,000
Total market value
$14,155,600
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1976
Heating
NONE
Lot
12.27 ac (534,307 SF)
Zoning code
PB-2
APN
11 00901-0000-00008
UPID
US59-3112685
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
PB-2 · Florham Park, NJ
Zoning PB-2 · permitted uses
PB-2 · Florham Park, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Florham Park. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1976
Heating
NONE
Lot
12.27 ac
Current owner
From public records · entity-resolved
Glf Hanover Office LLC
Entity
Mailing address
25 HANOVER RD, FLORHAM PARK, NJ 07932-1424
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2023
—
Glf Hanover Office LLC
—
Deed
related
$4,860,000 · City National Bank Of Florida
Mar 13, 2023
—
Zorro Hanover 25 LLC
—
Deed
related
$3,000,000 · Argnt Holdings LLC
Jul 27, 2022
$10,833,333
Glf Hanover Office LLC
Hanover Bsd LLC
Bargain And Sale Deed
$13,100,000 · Valley Bank
Jul 27, 2022
—
Hanover Bsd LLC
25 Hanover Road LLC
Deed
—
Oct 4, 2006
$16,600,000
25 Hnaover Road LLC
Tr Koll Florham Park Corp
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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