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225 Madison Ave

Morris Twp., NJ 07960
  • $1,950,000
  • STATUS: Active Under Contract
  • ON SITE: 50 Days
  • MLS #: 3929144
Under Contract
UPDATED: 231 min ago
$1,950,000
  • 0
    BEDS
  • 0.7
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,856
    SQFT
  • $220
    $/SQFT
Type:
Commercial
Built:
1964
County:
Area:

School Ratings & Info

Description

Located just outside of the vibrant downtown Morristown, and close to route 24 and I287, this iconic self standing office building is a great investment opportunity for a a buyer or an end user. With 8856 square feet of beautiful office space, currently fully occupied by World Insurance this building is currently producing income. Current lease is in force until 6/30/27. Space has recently had new carpet installed, large reception area, private offices on all three floors, open areas with cubicle work spaces, conference rooms, 6 restrooms(2 per floor) and storage. Building has 6 air conditioning units and heating units with ample power to insure a perfect work environment. This site also allows for 37 on site surface parking spaces. Lease documents and expenses can be provided upon request.

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Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Tejada Real Estate Partners | RE/MAX Select. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Tejada Real Estate Partners | RE/MAX Select are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-12-02T23:46:15.82.
www.ilovenewjerseyrealestate.com/homes/156699814
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225 Madison Ave Morris Twp., NJ 07960

  • Price: $1,950,000
  • Status: Active Under Contract
  • On Site: 50 Days
  • Updated: 231 min ago
  • MLS #: 3929144
0
Beds
0
Baths
0
½ Baths
0.7
Acres
8,856
SQFT
$220
$/SQFT
1964
Built
County:
Morris
Area:
Morris Twp.
Property Description
Located just outside of the vibrant downtown Morristown, and close to route 24 and I287, this iconic self standing office building is a great investment opportunity for a a buyer or an end user. With 8856 square feet of beautiful office space, currently fully occupied by World Insurance this building is currently producing income. Current lease is in force until 6/30/27. Space has recently had new carpet installed, large reception area, private offices on all three floors, open areas with cubicle work spaces, conference rooms, 6 restrooms(2 per floor) and storage. Building has 6 air conditioning units and heating units with ample power to insure a perfect work environment. This site also allows for 37 on site surface parking spaces. Lease documents and expenses can be provided upon request.
Exterior Features

Approximate Lot Size 0.70 AC Available Parking Spaces 34 Construction Brick/Block Exterior Description Brick/Block Location Business District Lot Description Level Lot Number Of Bays 0 Number Of Docks 0 Parking Driveway Description Off-Street ParkingParking Lot-Exclusive Roof Description Asphalt Shingle

Interior Features

Basement Yes Basement Description Finished Cooling 4+ UnitsCentral AirMulti-Zone Cooling Equipment Available Fire AlarmKitchen AreaRestrooms - PrivateSign - BuildingSign - FreestandingSmoke Detector Floors CarpetingVinyl-Linoleum Heating 4+ UnitsForced Hot AirMulti-Zone Max Ceiling Height 9 Max Door Height 84 Number Of Lavatories 6 Office Sq Ft 8856

Property Features

Available See Remarks Building Number 225 DEPStatus Unknown Expenses Include InsuranceMaintenance - ExteriorMaintenance - InteriorSnow RemovalTaxesTrashWater/Sewer For Sale Or Lease For Sale Free Rent See Remarks Fuel Type ElectricGas-Natural Gross Operating Income 210000 Lease Includes Building InsuranceBuilding MaintenanceSewerTaxesTrash RemovalWater Lease Type Gross Net Operating Income 130896 Owner Pays Maintenance-Common AreaNo UtilitiesSewerSnow RemovalTrash RemovalWater Permitted Use office Primary Property Type OffcFStd Prior Use Insurance office Property Type Free Standing Office Sale Includes Building & LandSee Remarks Sewer Public Sewer Suite Number 225 Tax Amount 34826 Tax Rate Amount 2.005 Tax Rate Year 2023 Tax Year 2023 Tenant Pays ElectricGasHeat Total Operating Expense 79104 Utilities ElectricGas In StreetGas-Natural Utilities Paid By Tenant Water Public Water Year Built Description Approximate Zoning B-11

Listing information © 2024 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Driscoll Real Estate Llc: 973-635-7272.


Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Tejada Real Estate Partners | RE/MAX Select. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Tejada Real Estate Partners | RE/MAX Select are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-12-02T23:46:15.82.
 
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Tejada Real Estate Partners | RE/MAX Select
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Montclair NJ, 07042