4 John St - Office FOR SALE


Morristown, NJ 07960
$7,550,000 USD
201-410-4268
4 John St, Morristown, NJ for Sale
$7,550,000 USD
Office - FOR SALE
1/11
null | 1.43% Cap Rate

4 John St
Morristown, NJ 07960


HIGHLIGHTS

  • 5 BUILDING MIXED USE PORTFOLIO IN MORRIS TWP, NEW JERSEY
  • SITE INCLUDES INDUSTRIAL, OFFICE AND RETAIL USES
  • PERFECT FOR USER TO UTILIZE EXISTING OFFICE/RETAIL SPACES
  • OPPORTUNITY FOR DEVELOPER TO RECEIVE INCOME WHILE PREPARING TO REDEVELOP THE ALMOST 2 ACRE SITE FOR HIGHEST AND BEST USE
  • EXCELLENT LOCATION ADJACENT TO ROUTE 287. MINUTES TO ROUTE 80, ROUTE 10 & ROUTE 24
  • LIQUOR LICENSE/BUSINNESS AVAILABLE SEPARATELY (SEE LINK)

OVERVIEW

USER/DEVELOPER opportunity: Five building portfolio in Morris Twp. NJ (Morris County) providing immediate income plus the opportunity to lease up /utilize three spaces. 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 Restaurant/Lounge/Club with outdoor beer garden. 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. Priced to sell. Additional 1.7 acre adjacent parking available separately. Operating Bar/Liquor Licensed Restaurant (11000 plus sq ft) included. PERFECT FOR A BREWERY.

FOR SALE DETAILS

PRICE

$7,550,000 USD

PRICE/SF

$340 USD /SF

CAP RATE

1.43%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

5 Buildings. Industrial. John Street Assoc.

PROPERTY TYPE

Office

ADD'L SUBTYPES

Auto Repair, Restaurant, Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.85 AC

LAND SF

211,266 SF

ZONING

I-21

APN/PARCEL ID

22-10102-0000-00002

ASK ABOUT THIS PROPERTY

Charles CollinsMarcus & MillichapMore Info
201-410-4268

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Charles CollinsMarcus & MillichapMore Info
201-410-4268

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.