16 Wing DrHanover, NJ 07927
- Office properties
- 4.54 AC
Property Details for 16 Wing Dr
- Year built
- 1985
- Lot size
- 4.54 AC
- Zone code
- IP
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 12 01101-0000-00004
- APU
- 1201101000000004
Description
This exceptional office property, located at 16 Wing Drive in Hanover, New Jersey, 07927, offers a blend of traditional and creative office space. The building, a Class B property constructed in 1979, comprises 32,000 square feet across two stories. Currently, a minimum of 1,866 square feet is available for lease, ideal for a variety of businesses. The building features ample parking with 225 spaces and convenient elevator access. Situated in the Parsippany Submarket, Cedar Knolls cluster, this location provides easy access to major roadways, including Route 10 and Ridgedale Avenue. Nearby amenities include Wegmans, LA Fitness, Shoprite, Seasons 52, and Capital Grille. The property is zoned IP and is in Morris County. While one available space is described as a beautifully appointed 2,825 sq ft loft-style suite with hardwood floors, four private offices, a large open bullpen, and a conference room, the minimum leasable space is 1,866 sq ft. This presents a fantastic opportunity for businesses seeking a well-located, functional, and accessible office space in a thriving New Jersey community.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $36,085,404
- 6.5%
- $33,309,604
- 7%
- $30,930,346
-
Comparable approach
- Method
- Valuation
- Relative Method
- $25,885,924
- Geo Method
- $25,851,080
-
Alternative Use
- Use
- Valuation
- Residential
- $41,303,908
- Hospitality
- $37,834,160
- Educational
- $31,477,576
- Medical
- $32,560,138
- Retail
- $48,965,120
Location Insight
- City
- Cedar Knolls
- County
- Morris
- State
- New Jersey
- Latitude
- 40.8343
- Longitude
- -74.4483
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Lease
FAQs
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