16 Wing DrHanover, NJ 07927

Property Details for 16 Wing Dr

Year built

1985

Lot size

4.54 AC

Zone code

IP

Property type

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.

• 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

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