520 Speedwell Ave Morris Plains, NJ 07950
- Office buildings
- 2.00 lot acres
Current Use by Public Records
- Office buildings
Property Details for 520 Speedwell Ave
- Year built
- 1965
- Lot size
- 2.00 lot acres
- Zone code
- B-4
- Property type
- Office buildings
- APN
- 23 00027-0000-00028
- APU
- 2300027000000028
Description
This exceptional office property, located at 520 Speedwell Ave, Morris Plains, NJ 07950, offers a variety of suite sizes perfect for businesses of all scales. The building, constructed in 1965 and extensively renovated in 2024, boasts 28,845 square feet of space across two stories. Suites range from a minimum of 487 square feet to a maximum contiguous space of 3,996 square feet, with 5,392 square feet currently vacant. The property sits on two acres of land and includes 87 parking spaces, a significant advantage in this desirable location. Building amenities include a passenger elevator, common area restrooms, and 24/7 access. The building's B-4 zoning allows for a variety of commercial uses. The location is highly convenient, offering walking distance to the NJ Transit train station providing access to NYC, along with numerous restaurants, bars, banks, and shopping options. Modern upgrades include faux hardwood plank flooring, LED lighting, and fresh paint throughout the renovated suites. Monument signage is also available. This property presents a unique opportunity for businesses seeking a prime location with modern amenities and flexible lease terms. The address is conveniently located near Hanover Avenue.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,075,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,840,000
- 6.5%
- $3,160,000
- 7%
- $3,340,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,310,000
- Geo Method
- $3,195,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,750,000
- Retail
- $2,760,000
- Mixed-Use
- $2,605,000
- Hospitality
- $2,840,000
- Educational
- $2,870,000
- Residential Income
- $3,015,000
- Energy
- $3,030,000
- Income-Based Land
- $3,020,000
- Food Service
- $3,250,000
Location Insight
- Map
- Local Demand
- City
- Morris Plains
- County
- Morris
- State
- New Jersey
- Longitude
- -74.4809
- Latitude
- 40.826
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
