55 Madison AveMorristown, NJ 07960

Property Details for 55 Madison Ave

Lot size

2.42 AC

Zone code

OB

Property type

Office properties

Property subtype

Office buildings

APN

24 06601-0000-00004

APU

2406601000000004

Description

This Class A, 21,584 square foot office building in Morristown, NJ, offers a variety of workspace solutions. Located at 55 Madison Avenue, Suite 400, this property boasts 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are available. The building underwent renovations in 2019 and features elevators for convenient access. The property offers executive office suites, coworking spaces, and creative office options, catering to diverse business needs. Its convenient location provides easy access to major transportation routes, including fast train and road links to Newark International Airport and New York City. Enjoy a park-like setting with nearby amenities such as restaurants, shops, and entertainment in Morristown's town center, as well as biking and walking trails in surrounding parks. This exceptional property in Morris County, NJ (zip code 07960) includes a business lounge and video conferencing facilities, providing a complete and modern workspace experience. The building is ideal for businesses seeking a blend of professional ambiance and convenient access to urban and natural environments. This is a multiple tenancy building.

• CAP approach

  CAP return

  Valuation

  6%

  $19,222,478

  6.5%

  $17,743,826

  7%

  $16,476,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,792,048

  Geo Method

  $13,773,524

• Alternative Use

  Use

  Valuation

  Residential

  $22,002,344

  Hospitality

  $20,154,028

  Educational

  $16,767,915

  Medical

  $17,344,590

  Retail

  $26,083,424

Location Insight

City

Morristown

County

Morris

State

New Jersey

Latitude

40.7873

Longitude

-74.4679

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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