150 River RdMontville, NJ 07045

Property Details for 150 River Rd

Year built

1980

Lot size

0.04 AC

Zone code

RLM1

Property type

Office properties

Property subtype

Other office properties

APN

21 00123- 01-00001- 10

APU

2100123010000110

Description

This 915 square foot office condo, located at 150 River Road, Unit J3B, in Montville, NJ, presents a fantastic opportunity for business ownership. Situated on the second floor, this well-maintained unit boasts three private offices, providing ample space for individual work or team collaboration. A shared common area offers additional flexibility for meetings or shared workspace, while a convenient half bath adds to the unit's functionality. The property sits on a 0.02-acre lot, offering convenient access and parking. Priced at $145,000, this is an exceptional value for a move-in ready office space ideal for a variety of professional uses, including but not limited to legal, accounting, therapeutic, or consulting practices. Avoid the ongoing expense of renting and take control of your business's future by owning this prime Montville office space. The unit's layout and features make it suitable for a wide range of businesses seeking a professional and efficient workspace. This is a rare opportunity to acquire a well-maintained and functional office space in a desirable location at an attractive price point. Don't miss out on this chance to own your workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $259,237

  6.5%

  $239,296

  7%

  $222,203

• Comparable approach

  Method

  Valuation

  Relative Method

  $204,875

  Geo Method

  $204,875

• Alternative Use

  Use

  Valuation

  Residential

  $296,727

  Hospitality

  $271,800

  Educational

  $226,135

  Medical

  $233,912

  Retail

  $351,765

Location Insight

City

Montville

County

Morris

State

New Jersey

Latitude

40.8909

Longitude

-74.3707

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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