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Burlington 191 E Hanover Ave 25,000 SF 100% Leased Retail Building Morristown, NJ 07960 $7,000,000 ($280/SF) 6.43% Cap Rate
INVESTMENT HIGHLIGHTS
- Newly constructed – 2023
- Burlington operates 1,100+ stores in 46 states
- 15-year roof warranty in place
EXECUTIVE SUMMARY
Located within the newly developed 110,513 SF "Morris Marketplace" shopping center, adjacent to Lidl grocery store. Newly constructed – 2023 with a 15-year roof warranty in place.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
25,000 SF
Building Class
B
Year Built
2023
Price
$7,000,000
Price Per SF
$280
Cap Rate
6.43%
NOI
$450,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.31
Lot Size
1.88 AC
Zoning
RDP - Redevelopment Plan District or a Residential Development Plan, mix of residential and commercial use
AMENITIES
- Smoke Detector
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 22-10401-0000-00003-01 | Improvements Assessment | $0 |
| Land Assessment | $365,200 | Total Assessment | $365,200 |
PROPERTY TAXES
Parcel Number
22-10401-0000-00003-01
Land Assessment
$365,200
Improvements Assessment
$0
Total Assessment
$365,200
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Burlington | 191 E Hanover Ave
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