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177 Madison Avenue

Off-Market

177 Madison Avenue, Morristown, NJ 07960

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  • Property Type Office - General Office
  • Property Size 39,700 SF
  • Lot Size 2.94 Acre
  • Parking Spaces Avail. 102
  • Parking Ratio 2.59/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1979

Location

  • City Morristown, NJ
  • Neighborhood Morristown
  • Zip Code 07960
  • Market New Jersey

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Date 14 Jul, 1987
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Morristown

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Morristown Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $34.72
  • 2020 Office Vacancy Rate 15.45%
  • 2020 Office Completions (SF)
View more Morristown market trends

Tax

  • Property Tax in 2021 $106,671
  • Market Value* $3,700,000
  • Assessed Value $3,700,000

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 177 Madison Avenue?

177 Madison Avenue totals 39,700 square feet.

When was this property built?

177 Madison Avenue was built in 1979.

When was 177 Madison Avenue last sold?

177 Madison Avenue was last sold on 14 Jul, 1987.

What is the property tax for 177 Madison Avenue?

The property tax for 177 Madison Avenue in 2021 was $106,671.

What is the market value for 177 Madison Avenue?

The market value* for 177 Madison Avenue in 2021 was $3,700,000.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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