2 Perry St 3,010 SF 100% Leased Office Building Morristown, NJ 07960 $1,500,000 ($498.34/SF) 7.01% Cap Rate

2 Perry Street is an excellent investment in Morristown's growing market.

Built in 1876, this impressive property is a key rental location in Morristown. Over the years, it has been carefully updated and now combines classic craftsmanship with a welcoming atmosphere. The building offers 4,000 square feet, divided into floor plans that make the most of comfort and practicality. The property is currently fully leased and organized as three separate rental units, making it attractive to investors. The top two floors feature a large three-bedroom, two-bath apartment, while the main floor provides professional office space for business tenants. The ground floor offers a cozy one-bedroom apartment, which will be delivered vacant, giving flexibility for new leasing or owner use. Both residential units include their own laundry and separate central AC. Property orientation as well as the large glass french doors opening to the east and floor to ceiling original windows to the west provide full morning sun as well as end of day sunsets. The grounds are professionally landscaped, and there is a welcoming front porch and several decks, blending historic charm with modern conveniences. Renovations from 2005 to 2024 have added contemporary features while preserving the property’s character. Complete replacement of major systems with highest of quality materials and systems makes it a no-hassle income property. The property is also an excellent candidate for reconversion to the high quality single unit living space for which it was designed to be in 1876. This is a unique chance to own a fully updated, income-producing property in central Morristown.

Investors will be drawn to this prime Morristown location, situated in a charming historic district with unbeatable access. Residents and business tenants benefit from easy connectivity to major highways, bus routes, and train stations, making commuting effortless. Just four blocks from the iconic Morristown Green, the area offers vibrant shops, diverse dining, and exciting nightlife all within walking distance. Morristown boasts over 140 restaurants, a thriving entertainment scene, and the acclaimed Mayo Performing Arts Center (MPAC), which hosts Broadway performances and top concerts. The NJ Transit station nearby provides direct "Midtown Direct" service to New York Penn Station in just 60–75 minutes, further enhancing the property's appeal and convenience for tenants.