4 John Street 5 Properties Offered at $9,880,000 in Morristown, NJ
INVESTMENT HIGHLIGHTS
- INCLUDES 2AC CANNABIS APPROVED LAND
- PERFECT FOR USER TO UTILIZE EXISTING OFFICE/RETAIL SPACES
- EXCELLENT LOCATION ADJACENT TO ROUTE 287. MINUTES TO ROUTE 80, ROUTE 10 & ROUTE 24
- SITE INCLUDES INDUSTRIAL, OFFICE AND RETAIL USES
- OPPORTUNITY FOR DEVELOPER TO RECEIVE INCOME WHILE PREPARING TO REDEVELOP THE ALMOST 2 ACRE SITE FOR HIGHEST AND BEST USE
- LIQUOR LICENSE/BUSINNESS AVAILABLE SEPARATELY (SEE LINK)
EXECUTIVE SUMMARY
Cannabis Approved | USER/DEVELOPER opportunity: Five building portfolio in Morris Twp. NJ (Morris County) providing immediate income plus
the opportunity to lease up /utilize three spaces.
Possible uses include Cannabis, Gym, Wellness/health centers, sauna/cold plunge, golf simulators - endless possibilities.
Owner retiring after many years at site. Existing tenants include Builder, Car detailer, Book Seller, Yard maintenance. Vacant Spaces include two office spaces (total space = 2500sf) and a former Restaurant. Tenants are responsible for all utilities and maintenance of their buildings. Site has access to 118 additional parking spaces (by right) after 6pm.
Perfect for end user and as investment property. Five (5) freestanding masonry buildings totaling 22,230 sq ft. of rentable space plus two (2) Garages & Parking. 2.0 acres which includes parking. Original buildings built in early 70's. Renovations and newer construction in Mid 90's and 2017. Excellent location adjacent to exit 35, route 287. Minutes to Routes 80, 46, 10 and 24/78. Walking distance to train and Morristown Center.
the opportunity to lease up /utilize three spaces.
Possible uses include Cannabis, Gym, Wellness/health centers, sauna/cold plunge, golf simulators - endless possibilities.
Owner retiring after many years at site. Existing tenants include Builder, Car detailer, Book Seller, Yard maintenance. Vacant Spaces include two office spaces (total space = 2500sf) and a former Restaurant. Tenants are responsible for all utilities and maintenance of their buildings. Site has access to 118 additional parking spaces (by right) after 6pm.
Perfect for end user and as investment property. Five (5) freestanding masonry buildings totaling 22,230 sq ft. of rentable space plus two (2) Garages & Parking. 2.0 acres which includes parking. Original buildings built in early 70's. Renovations and newer construction in Mid 90's and 2017. Excellent location adjacent to exit 35, route 287. Minutes to Routes 80, 46, 10 and 24/78. Walking distance to train and Morristown Center.
PROPERTY FACTS
| Price | $9,880,000 |
| Price / SF | $231.22 / SF |
| Cap Rate | 1.09% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 42,730 SF |
| Total Land Area | 8.29 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Building D
4 John St, Morristown, NJ 07960 |
Industrial | 2,300 SF | 1986 | - |
|
Building C
4 John St, Morristown, NJ 07960 |
Industrial | 3,200 SF | 1986 | - |
|
Building B
4 John St, Morristown, NJ 07960 |
Office | 22,230 SF | 1990 | - |
|
Building A
4 John St, Morristown, NJ 07960 |
Retail | 12,000 SF | 1990 | - |
|
Building E
4 John St, Morristown, NJ 07960 |
Retail | 3,000 SF | 1986 | - |
1 of 1
