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5-7 Washington St 5,126 SF 100% Leased Retail Building Morristown, NJ 07960 $2,950,000 ($575.50/SF) 4.47% Cap Rate
Investment Highlights
- Zoning permits a potential two-story expansion.
- Located in Morristown’s active retail and restaurant district with strong foot traffic.
- Positioned in a high-demand Northern New Jersey market with strong demographics.
- Mixed-use property with one ground-floor retail space and two luxury residential units.
- Walkable downtown location with access to shops, dining, and public transportation.
Executive Summary
The building is comprised of 2 each two bedroom and 2 bath residential units and a ground floor retail unit. The property is 100% leased but the zoning allows for potential value add
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- Operating and Financials
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,126 SF
Building Class
B
Year Built
2011
Price
$2,950,000
Price Per SF
$575.50
Cap Rate
4.47%
NOI
$132,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.94
Lot Size
0.04 AC
Zoning
CBD - Central Business District
Frontage
10’ on Washington St
Amenities
- 24 Hour Access
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 24-05901-0000-00006 | Improvements Assessment | $1,142,400 |
| Land Assessment | $320,000 | Total Assessment | $1,462,400 |
Property Taxes
Parcel Number
24-05901-0000-00006
Land Assessment
$320,000
Improvements Assessment
$1,142,400
Total Assessment
$1,462,400
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5-7 Washington St