Mixed-Use Live-Work
101 Washington St Morristown, NJ 07960
101 Washington St, Morristown, NJ, 07960
$1,100,000
For Sale
$1,100,000
Well-maintained two-level mixed-use duplex with separate heating/hot water, private laundry, and off-street parking.
Property Size2,200 SF
Price / SF$500
Days on Market69
Property Features for 101 Washington St
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1857
Listing agency
WEICHERT REALTORS
(973) 539-8000
Listed by
JULIA PILAS
Source
Corcoran
Added: May 14 Updated: Jul 21 at 12:24AM Checked: Jul 21 at 12:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WEICHERT REALTORS
Investment Insights
Based on property information with market context.
This well-maintained mixed-use duplex offers two separate living levels with practical shared and private amenities. The first floor features seven spacious rooms and 1.5 bathrooms, along with a private laundry facility. A woodburning fireplace includes a new liner, and the home has a well-constructed deck. A spiral staircase leads to a lower level that can serve as additional living space or be used as a professional office area with its own entrance accessed from the parking lot.
The second floor includes a five-room apartment with its own laundry facility, a walk-in closet, two bedrooms, and ceiling fans. Both apartments have new stainless steel appliances, with the gas stove including a built-in air fryer. The homes include natural light, recessed lighting, and seven AC window units.
Additional features include off-street parking and individual heating/hot water units for each apartment, along with security cameras around the outside perimeter of the building. The property is located just blocks from the Morristown Green and Business District, with Whole Foods across the street and the Midtown Manhattan Direct train minutes away.
The second floor includes a five-room apartment with its own laundry facility, a walk-in closet, two bedrooms, and ceiling fans. Both apartments have new stainless steel appliances, with the gas stove including a built-in air fryer. The homes include natural light, recessed lighting, and seven AC window units.
Additional features include off-street parking and individual heating/hot water units for each apartment, along with security cameras around the outside perimeter of the building. The property is located just blocks from the Morristown Green and Business District, with Whole Foods across the street and the Midtown Manhattan Direct train minutes away.
Key Highlights
- Year built 1857: two‑level mixed‑use duplex with separate heating/hot water for each apartment
- First floor offers 7 rooms total, 1.5 bathrooms, private laundry facility, woodburning fireplace (new liner), and a well‑constructed deck
- Lower‑level spiral staircase adds flexible space that can serve as a family room or a professional office with its own entrance from the parking lot
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $25.56 |
| − Vacancy | −$3.6k | −$1.65 |
| EGI | $52.6k | $23.91 |
| − OpEx | −$15.8k | −$7.17 |
| NOI | $36.8k | $16.74 |
2,200 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$526.0K
$460.3K – $613.7K
NOI $36,820 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$483.3K
$422.9K – $563.9K
NOI $33,832 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$574.5K
$502.7K – $670.2K
NOI $40,212 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained two-level mixed-use duplex with separate heating/hot water, private laundry, and off-street parking.
Where is this duplex located?
The property is located at 101 Washington St Morristown, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Year built 1857: two‑level mixed‑use duplex with separate heating/hot water for each apartment; First floor offers 7 rooms total, 1.5 bathrooms, private laundry facility, woodburning fireplace (new liner), and a well‑constructed deck; Lower‑level spiral staircase adds flexible space that can serve as a family room or a professional office with its own entrance from the parking lot
