520 Speedwell AveMorris Plains, NJ 07950

Property Details for 520 Speedwell Ave

Year built

1965

Lot size

2.00 AC

Zone code

B-4

Property type

Office buildings

APN

23 00027-0000-00028

APU

2300027000000028

Description

This exceptional office property, located at 520 Speedwell Ave, Morris Plains, NJ 07950, offers a variety of suite sizes perfect for businesses of all scales. The building, constructed in 1965 and extensively renovated in 2024, boasts 28,845 square feet of space across two stories. Suites range from a minimum of 487 square feet to a maximum contiguous space of 3,996 square feet, with 5,392 square feet currently vacant. The property sits on two acres of land and includes 87 parking spaces, a significant advantage in this desirable location. Building amenities include a passenger elevator, common area restrooms, and 24/7 access. The building's B-4 zoning allows for a variety of commercial uses. The location is highly convenient, offering walking distance to the NJ Transit train station providing access to NYC, along with numerous restaurants, bars, banks, and shopping options. Modern upgrades include faux hardwood plank flooring, LED lighting, and fresh paint throughout the renovated suites. Monument signage is also available. This property presents a unique opportunity for businesses seeking a prime location with modern amenities and flexible lease terms. The address is conveniently located near Hanover Avenue.

• CAP approach

  CAP return

  Valuation

  6%

  $15,892,421

  6.5%

  $14,669,927

  7%

  $13,622,075

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,398,471

  Geo Method

  $11,383,099

• Alternative Use

  Use

  Valuation

  Residential

  $18,190,710

  Hospitality

  $16,662,592

  Educational

  $13,863,081

  Medical

  $14,339,854

  Retail

  $21,564,792

Location Insight

City

Morris Plains

County

Morris

State

New Jersey

Latitude

40.826

Longitude

-74.4809

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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