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Property profile & analytics
FOR SALE
Medical Office Space
8 Shunpike Rd Madison, NJ 07940
Individually Owned
5-yr Hold
Free & Clear
Property ID
US59-1511559
For Sale
1 / 19
$300,000
8 Shunpike Rd, Madison, NJ 07940
View Listing →
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Buryk Joellen Employment Agency
-
Dr. Vesna Nikodijevic Pediatrician Medical Clinic
-
Coyle Dentistry: Dr. Dennis Coyle DMD FAGD & Dr. Kathryn Coyle DMD Dental Office
-
Dr. Nimish B. Joshi, DMD Dental Office
-
Gary Berger Pediatrician Physician
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
Shunpike Prof Assocs · 5 yrs held
Shunpike Prof Assocs
since 2021
5 recorded transactions
Zoning & alternative use
P · Madison, 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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,645,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,485,000
Change: 0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,125,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±10%
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
$146 / SF
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
$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
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
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, NJ
Zoning P · permitted uses
P · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Construction
BRICK
Heating
NONE
Stories
2
Lot
1.1 ac
Current owner
From public records · entity-resolved
Shunpike Prof Assocs
Individual
Free & Clear · 5 yrs held
Mailing address
8 SHUNPIKE RD, MADISON, NJ 07940-2740
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Jan 4, 2021
—
Shunpike Prof Assocs
Gary Berger
Quit Claim Deed
related
—
Dec 14, 2020
—
Shunpike Prof Assocs
Assocs Shunpike
Correction Deed
related
—
—
—
Shunpike Professional Assocs
—
Deed Of Trust
related
$320,000 · Peapack Gladstone Bank
—
—
Shunpike Professional Associat
—
Deed Of Trust
related
$100,000 · First Morris Bank
—
—
Shunpike Professional Assocs
—
Deed Of Trust
related
$80,000 · Provident Savings Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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