Property profile

14 Pne St Morristown, NJ 07960

OFF-MARKET
Office buildings
Property ID
US59-1134034
7,343 SF 0.17 ac lot Built 1900
Entity Owned 12-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial space, located at 14 Pine Street in the heart of Morristown, New Jersey, presents a fantastic opportunity for a business seeking a vibrant and convenient location. The approximately 222 square foot suite (#2) is ideal for a small office or retail use, offering a clean and updated interior. Its prime location places it just steps away from the bustling South Street and the renowned Mayo Performing Arts Center (MPAC), ensuring high visibility and foot traffic. The property's proximity to the Midtown Direct train station (a mere three blocks away) provides unparalleled access to New York City. Beyond the convenient location, the building boasts a delightful outdoor amenity: a rear garden and patio area, perfect for employees to enjoy lunch breaks, work remotely in fresh air, or simply relax. A significant advantage is that the rental price includes all utilities and expenses, eliminating the hassle and unpredictability of separate utility bills. This comprehensive coverage encompasses heat, electricity, building maintenance, and cleaning services, providing a truly all-inclusive rental experience. The 0.17-acre lot ensures a manageable and efficient space. This property offers an exceptional combination of location, amenities, and cost-effectiveness, making it an attractive option for discerning businesses.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1900
Construction BRICK
Total area 7,343 SF
Lot 0.17 ac (7,309 SF)
Zoning code CBD
APN 24 04802-0000-00003
UPID US59-1134034

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Consultant
  • Wedding Service Event Planning
  • Event Planning Party Supply Store
  • Photography Service (Bike/Boat/Book/etc) Store
  • Garden Center

Location

14 Pne St Morristown, NJ 07960-4132
Morristown metro Census 43601 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.25M
Blend (final) Blend
$1.17M

Owner & transaction history

since 2013
5 recorded transactions
2021
Price N/A
2013
$1.2M
2005
$1
1969
Price N/A
1969
Price N/A

Zoning & alternative use

CBD · Morristown, NJ

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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