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Property profile & analytics
OFF-MARKET Estimated value $520,000
Office buildings

83 Hanover Rd Florham Park, NJ 07932-1508

5.48 ac lot
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US59-1136124
Property summary
AI-generated overview

This exceptional two-story medical office building, totaling 55,000 square feet, presents a unique opportunity in Florham Park, NJ. Located at 83 Hanover Road, this highly visible property boasts a park-like setting with ample parking and is conveniently situated between Route 10 and South Orange Avenue-Columbia Turnpike, offering excellent access to major roadways including I-280, I-287, and Route 24. Built in 2005 and renovated in 1997, the building features a striking façade, a two-story atrium lobby, a canopy, and modern amenities such as car charging stations and a new generator pad. Currently, 1,603 square feet of office space is available for lease within this multi-tenant building. The property's strategic location in Morris County places it in close proximity to several prominent healthcare facilities, including Morristown Memorial, Cooperman Barnabas Medical Center, Barnabas Health Ambulatory Care Center, and Overlook Hospitals, making it an ideal location for medical practices seeking high visibility and convenient access to a large patient base. The building's attractive features and prime location combine to create an exceptional opportunity for medical professionals seeking a modern and well-equipped workspace.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Lot 5.48 ac (238,709 SF)
Zoning code C-1
APN 11 00201-0000-00006
UPID US59-1136124
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
  • Northeastern Plastic Surgery: Joseph Fodero, MD PA Physician Medical Clinic
  • Altair Health Surgery Center Medical Clinic Hospital
  • Dr. Robert D. Zenenberg, DO Physician Medical Clinic
  • Dr. Alexander Abkin MD, FACS, FASMBS Weight Loss Service Doctor
  • Advanced Laparoscopic Surgeons: Goodman Jeffrey W MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$520k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$520k
Owner & transaction history
Hanover Associates · 5 yrs held
Hanover Associates
since 2021
6 recorded transactions
2021
Price N/A
2013
Price N/A
2009
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C-1 · Florham Park, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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