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100% Occupied Lab/Government Bldg. - 44 Deforest Avenue, East Hanover, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $8,000,000

  • 40,022

  • 7.00%

  • NOI :

  • Acres :

  • $559,996

  • 1.02

  • Property Type :

  • Property Status :

  • Office

  • Available

Investment Highlights

  • 100% Occupied Government & Credit Tenant Asset

Fully leased to a strong roster of tenants including the New Jersey State Police Forensic Lab and the Office of the Chief State Medical Examiner, providing durable, mission-critical tenancy and long-term stability. 


  • Attractive 7.00% Cap Rate with Stable In-Place Cash Flow

Offered at $8,000,000 with $559,996 NOI, delivering immediate yield backed by essential-use tenancy and predictable income streams. 


  • Long-Term Lease Profile with Built-In Rent Growth

Weighted lease terms extending through 2032–2033 with contractual rent escalations, providing investors with organic NOI growth and inflation hedge. 


  • Strong Expense Reimbursements Minimize Landlord Exposure

Majority of tenants operate under NNN or modified gross structures with reimbursements for operating expenses and utilities, significantly reducing ownership risk and volatility. 


  • Mission-Critical Laboratory & Forensic Use

Specialized lab buildout with high power capacity (4,000 amps), drive-in access, and institutional infrastructure creates high tenant stickiness and significant replacement cost barriers. 


  • High-Quality Asset – 40,022 SF on 1.02 Acres

Well-maintained, multi-building facility with functional industrial/lab design, 16’ ceiling heights, and dedicated parking supporting long-term usability and adaptability. 


  • Strategic Northern New Jersey Location

Located in affluent Morris County with proximity to Route 10, I-280, and I-287, offering strong regional connectivity and access to major employment hubs and New York City. 


  • Favorable I-1 Light Industrial Zoning

Permits a wide range of industrial, laboratory, and research uses, supporting long-term flexibility and alternative tenancy options. 


  • Dense, Amenity-Rich Commercial Corridor

Positioned near major national retailers (Costco, Target, Home Depot) and daily-needs amenities, enhancing tenant convenience and long-term leasing appeal. 


  • Limited Near-Term Rollover

Staggered lease expirations and ongoing lease extensions provide income continuity.