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    Property profile & analytics

    55 Madison Ave Morristown, NJ 07960

    • Office buildings
    • 2.42 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Value Estimation
    Location Intelligence
    Property ID
    US59-1995296
    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

    • The Law Office of Blair R Zwillman / Criminal Justice Attorney
    • Alitair Pharmaceuticals / Pharmaceutical Company
    • Pharmaceutical Patent Attorneys, LLC / Patent Attorney / Attorney
    • Garden State Scientific, LLC / Laboratory Equipment Supplier / Scientific Equipment Supplier
    • LAW OFFICE OF JOSEPH D. CASTELLUCCI, JR., LLC / Attorney

    Property Details for 55 Madison Ave

    Lot size
    2.42 lot acres
    Zone code
    OB
    Property type
    Office buildings
    APN
    24 06601-0000-00004
    APU
    2406601000000004

    Description

    This Class A, 21,584 square foot office building in Morristown, NJ, offers a variety of workspace solutions. Located at 55 Madison Avenue, Suite 400, this property boasts 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are available. The building underwent renovations in 2019 and features elevators for convenient access. The property offers executive office suites, coworking spaces, and creative office options, catering to diverse business needs. Its convenient location provides easy access to major transportation routes, including fast train and road links to Newark International Airport and New York City. Enjoy a park-like setting with nearby amenities such as restaurants, shops, and entertainment in Morristown's town center, as well as biking and walking trails in surrounding parks. This exceptional property in Morris County, NJ (zip code 07960) includes a business lounge and video conferencing facilities, providing a complete and modern workspace experience. The building is ideal for businesses seeking a blend of professional ambiance and convenient access to urban and natural environments. This is a multiple tenancy building.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4679
    Latitude
    40.7873
    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
    $284,335
    $2,150,000
    $7,350,000
    $9,500,000
    -
    $2,150,000
    $7,350,000
    $9,500,000

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      35 Morris St

      OFFICE BUILDING • 1.28 Acres
      35 Morris St, Morristown, NJ 07960-3919
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    55 Madison Ave
    Morristown, NJ 07960
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    Realmo Value Estimation

    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.

    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.

    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
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