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Investment Property For Sale 629 Parsippany Rd 29,500 SF 100% Leased Office Building Parsippany, NJ 07054 $4,999,999 ($169.49/SF) 7.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Excellent Investor Opportunity with Solid 10 Year plus lease in place
- Handicapped Accessible with multiple entrances
- Ample Covered Parking with over 100 Parking spots
- Perfect for a 1031 x. Ready for a Quick Close
- Easy access to Rt. 287, 80, 24, Morristown,
EXECUTIVE SUMMARY
This offering presents a fully leased ±30,000 square foot office building situated on 2.1 acres in a highly visible, high-traffic location. The property benefits from long-term tenancy, with over 10 years remaining on the lease, providing stable and predictable income.
The building offers excellent regional accessibility, with convenient access to Routes 287, 80, and 24, making it an ideal location .An elevator services all floors, and the property features ample covered parking with over 100 spots, enhancing convenience for tenants and visitors.
Zoned B-2 (Business / Highway Development), the site supports a variety of commercial uses and benefits from prominent signage along a well-traveled corridor, ensuring strong visibility and branding opportunities.
This is perfect for a 1031. Please call for a tour.
This is a prime investment opportunity in a sought-after location, combining long-term income stability with exceptional access and exposure.
The building offers excellent regional accessibility, with convenient access to Routes 287, 80, and 24, making it an ideal location .An elevator services all floors, and the property features ample covered parking with over 100 spots, enhancing convenience for tenants and visitors.
Zoned B-2 (Business / Highway Development), the site supports a variety of commercial uses and benefits from prominent signage along a well-traveled corridor, ensuring strong visibility and branding opportunities.
This is perfect for a 1031. Please call for a tour.
This is a prime investment opportunity in a sought-after location, combining long-term income stability with exceptional access and exposure.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Building Size
29,500 SF
Building Class
B
Year Built
1986
Price
$4,999,999
Price Per SF
$169.49
Cap Rate
7.92%
NOI
$396,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
14,500 SF
Building FAR
0.32
Lot Size
2.10 AC
Zoning
SED5,Parsippany-Troy - B 2 Zoning
Parking
101 Spaces (3.5 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Property Manager on Site
- Signage
- Wheelchair Accessible
- Reception
- Monument Signage
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 29-00740-0000-00005 | Improvements Assessment | $908,400 |
| Land Assessment | $1,260,000 | Total Assessment | $2,168,400 |
PROPERTY TAXES
Parcel Number
29-00740-0000-00005
Land Assessment
$1,260,000
Improvements Assessment
$908,400
Total Assessment
$2,168,400
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Investment Property For Sale | 629 Parsippany Rd
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