Price :
Square Feet :
Cap Rate :
$8,000,000
40,022
7.00%
NOI :
Acres :
$559,996
1.02
Property Type :
Property Status :
Office
Available
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.
Offered at $8,000,000 with $559,996 NOI, delivering immediate yield backed by essential-use tenancy and predictable income streams.
Weighted lease terms extending through 2032–2033 with contractual rent escalations, providing investors with organic NOI growth and inflation hedge.
Majority of tenants operate under NNN or modified gross structures with reimbursements for operating expenses and utilities, significantly reducing ownership risk and volatility.
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.
Well-maintained, multi-building facility with functional industrial/lab design, 16’ ceiling heights, and dedicated parking supporting long-term usability and adaptability.
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.
Permits a wide range of industrial, laboratory, and research uses, supporting long-term flexibility and alternative tenancy options.
Positioned near major national retailers (Costco, Target, Home Depot) and daily-needs amenities, enhancing tenant convenience and long-term leasing appeal.
Staggered lease expirations and ongoing lease extensions provide income continuity.