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117-119 Morris St 3,069 SF 100% Leased Retail Building Morristown, NJ 07960 For Sale 5% Cap Rate
Executive Summary
Fully occupied mixed-use retail property offered for sale in a prime Morristown location. The first floor is occupied by a restaurant tenant, while the second floor consists of two residential units, including one 2-bedroom and one 1-bedroom apartment. The property offers additional upside potential, with the possibility of adding more units subject to town approval (buyer to verify). All units are separately metered for utilities, supporting efficient management and reduced operating expenses. This well-located asset presents an attractive opportunity for investors seeking stable income with future growth potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,069 SF
Building Class
C
Year Built
1990
Cap Rate
5%
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.76
Lot Size
0.04 AC
Zoning
B - Business Zoning
Frontage
29’ on Morris St
Walk Score®
Walker's Paradise (97)
Nearby Major Retailers
Property Taxes
| Parcel Number | 24-04702-0000-00035 | Improvements Assessment | $848,300 |
| Land Assessment | $306,000 | Total Assessment | $1,154,300 |
Property Taxes
Parcel Number
24-04702-0000-00035
Land Assessment
$306,000
Improvements Assessment
$848,300
Total Assessment
$1,154,300
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Presented by
Baldo Dattolo
117-119 Morris St
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