830 Morris TpkeShort Hills, NJ 07078

Property Details for 830 Morris Tpke

Year built

1972

Construction

BRICK

Lot size

3.57 AC

Property type

Commercial real estate

APN

12 02002-0000-00024

APU

1202002000000024

Description

This Class A office building at 830 Morris Turnpike in Short Hills, NJ (zip code 07078), offers a diverse range of workspace solutions. Located in Essex County, this 15,832 square foot building boasts 350 suites and underwent renovations in 2019. The property features multiple tenancy options, with a minimum divisible space of 100 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. The building is equipped with elevators. Available options include private, fully furnished offices, customizable to suit individual business needs, ranging from single-person setups to larger corporate spaces. Coworking spaces are also available, offering both dedicated desks and hot-desking options. Meeting rooms of various sizes are available for rent, catering to diverse needs from informal chats to large conferences. Virtual office solutions are also provided, including mail handling and virtual assistant services. Flexible working plans offer access to a global network of workspaces. This property is ideal for businesses seeking adaptable and high-quality office space in a prime New Jersey location.

• CAP approach

  CAP return

  Valuation

  6%

  $29,150,700

  6.5%

  $26,908,300

  7%

  $24,986,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,327,400

  Geo Method

  $20,327,400

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $52,976,300

  Retail / Commercial

  $27,166,000

  Mixed-Use / Specialty

  $27,069,100

  Hospitality / Lodging

  $19,859,800

  Office

  $26,908,300

  Institutional / Educational

  $28,141,000

  Residential Income

  $32,925,000

  Multifamily

  $39,488,400

  Automotive / Energy

  $24,120,900

  Parking / Income-Based Land

  $8,323,810

  Restaurant / Food Service

  $14,078,900

  Healthcare / Senior Housing

  $27,758,900

Location Insight

City

Short Hills

County

Essex

State

New Jersey

Latitude

40.7233

Longitude

-74.3369

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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