225 Madison AveMorristown, NJ 07960

Property Details for 225 Madison Ave

Year built

1986

Construction

BRICK

Lot size

0.70 AC

Property size (Sq ft)

8,856 SF

Zone code

B-11

Property type

Other commercial real estate

APN

22 08301-0000-00007

APU

2208301000000007

Description

This exceptional 8,856 square foot freestanding office building presents a compelling investment opportunity in Morristown, NJ. Strategically located just outside the vibrant downtown area, with convenient access to Route 24 and I-287, this property offers significant advantages. Currently fully occupied by World Insurance under a lease extending until June 30, 2027, this building generates immediate income. The spacious interior boasts a large reception area, private offices across three floors, open workspaces adaptable to various configurations, multiple conference rooms, and six restrooms (two per floor). Recent upgrades include new carpeting throughout. The building is well-equipped with six air conditioning and heating units, ensuring a comfortable work environment, and ample power is available. On-site parking is plentiful, with 37 surface spaces. The 0.7-acre lot provides ample room for expansion or future development. Detailed lease documents and expense reports are available upon request. This property is ideal for both investors seeking a strong return and end-users requiring substantial, well-maintained office space. Don't miss this chance to acquire a prime commercial property in a thriving New Jersey market.

• Alternative Use

  Use

  Valuation

  Residential

  $1,848,220

  Hospitality

  $1,692,960

  Educational

  $1,408,523

  Medical

  $1,456,964

  Retail

  $2,191,035

Location Insight

City

Morristown

County

Morris

State

New Jersey

Latitude

40.7853

Longitude

-74.4536

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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