Individually Owned 
For Sale
1 / 19
$300,000
8 Shunpike Rd, Madison, NJ 07940
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Property summary
AI-generated overview
An end-unit medical office suite of 1,024 square feet within a multi-tenant medical building containing seven units, situated on a 1.1-acre lot in central Madison. The suite is configured for medical or dental use and includes a waiting room and reception area, three exam rooms, one private office, a storage room, a kitchenette, a closet, and a powder room. The space includes separate air-conditioning units, and the building had its roof redone in 2021. The suite is positioned for convenient parking access and is located approximately 4.5 miles from Morristown Medical Center and 5.4 miles from Overlook Medical Center, with nearby access to shops, restaurants, and Routes 78 and 287.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Construction
BRICK
Total area
9,398 SF
Lot
1.1 ac (47,925 SF)
Zoning code
P
APN
17 04501-0000-00009
UPID
US59-1511559
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Employment Agency
-
Pediatrician Medical Clinic
-
Dental Office
-
Dental Office
-
Pediatrician Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.38M
Owner & transaction history
since 2021
5 recorded transactions
Zoning & alternative use
P · Madison, NJ
Zoning description
The intent of this zone is to promote business, medical, professional, executive or administrative offices, public parks and playgrounds, single family detached dwellings related uses
General category
COMMERCIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.38M
Value range
$1.24M – $1.51M
±10% around blend
Estimated value / SF
$146 / SF
Confidence
Property data
88
Comparable evidence
60
Income certainty
100
$1.24M
blend $1.38M
$1.51M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,398 SF
Lot area
1.1 ac
Stories
2
APN
17 04501-0000-00009
Zoning
P
Assessed value
$2,104,800
Annual tax
$43,233
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$43,233
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.38M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
5.22%
Selected cap rate for this medical office space
Derived from the Madison market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.22%
9.0%
NOI (est.)
$16k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$300k
Move the market yield to see immediate price impact.
Value / SF
$32
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.72%5.22%5.72%
$14k
$299k
$270k
$247k
$16k
$332k
$300k
$274k
$17k
$365k
$330k
$301k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$43,233
Tax year 2022
Assessed value
$2,104,800
Assessed 2023
Previous assessed
$2,104,800
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$1,320,000
Assessed improvement
$784,800
Land market value
$1,320,000
Improvement market value
$784,800
Total market value
$2,104,800
Applied tax rate
17.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Construction
BRICK
Heating
NONE
Stories
2
Total area
9,398 SF
Lot
1.1 ac (47,925 SF)
Zoning code
P
APN
17 04501-0000-00009
UPID
US59-1511559
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
P · Madison, NJZoning P · permitted uses
P · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The intent of this zone is to promote business, medical, professional, executive or administrative offices, public parks and playgrounds, single family detached dwellings related uses
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Construction
BRICK
Heating
NONE
Stories
2
Lot
1.1 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
P
COMMERCIAL
Jurisdiction
Madison, NJ
Recorded code
P
Official district
P
Official district profile
What the municipal code says about P
Zoning description
The intent of this zone is to promote business, medical, professional, executive or administrative offices, public parks and playgrounds, single family detached dwellings related uses
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for P in Madison, NJ.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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