Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1 Evergreen Pl Morristown, NJ 07960

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for rent, close to Morristown Green.

    Property size:
    6,000 SF
    Lot size:
    3.56 Acres

    Property Features for 1 Evergreen Pl

    General Information

    Size
    6,000 SF
    Lot size
    3.56 Acres

    We can help!

    Listing Contact
    Jack Maier
    Jack Maier
    Source: Moodyscre

    Listing Agency: Newmark & Associates, Inc. Listing Agent: Jack Maier

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space Near Morristown Green

    This retail space offers 5,800 square feet and is located minutes from Morristown Green. The property benefits from abundant parking and 24-hour access. Its location provides proximity to Route 287.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Camisa Physical Therapy ... Medical Clinic Camisa Fitness Dynamics Gym & Fitness Center Unity Charter School High School Kid and Caboodle Play Family Recreation Center Dr. Joseph Camisa Physician

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4666578
    Latitude
    40.8056706

    Nearby Similar for Lease

    • $895 /Mo
      3,485 SF

      Private Office Near Downtown Morristown

      Professionally occupied office space near downtown Morristown for rent.
      13.5 James St, Morristown, NJ 07960
      View Details
    • $800 /Mo
      6,098 SF

      Morristown Town First-Floor Office Space

      First-floor office space for rent near Morristown Green.
      5 Maple Ave, Morristown, NJ 07960
      View Details
    • $1,950 /Mo

      Office Space in Morris Twp.

      Well-kept office space with media room and separate suites.
      39 E Hanover Ave, Morristown, NJ 07960
      View Details
    • $1,300 /Mo

      Morristown Office Space For Rent

      Lower level office space in prime Morristown location.
      14 Elm St, Morristown, NJ 07960
      View Details
    • Sponsored
      New
      Contact for pricing

      Morristown

      Discover many ways to work your way in 445 Park Avenue
      55 Madison Ave, Morristown, NJ 07960
      View Details
    • $1,500 /Mo

      Morristown Office/Retail Space For Rent

      Bright office/retail space in Morristown's bustling business district.
      125 Morris St, Morristown, NJ 07960
      View Details
    • $1,100 /Mo

      Two-Room Office Space For Rent

      Two-room office space near Morristown's business district.
      18 Elm St, Morristown, NJ 07960
      View Details
    • $26 SF/Yr

      Morristown Office Space For Rent

      Updated office space near downtown and hospital with ample parking.
      330 South St, Morristown, NJ 07960
      View Details
    • $895 /Mo

      Private Office Near South Street

      Professionally occupied office building near downtown Morristown.
      13 James St, Morristown, NJ 07960
      View Details
    • Contact for pricing
      15,151 SF

      Morristown Office Building with Fitness

      Office building with fitness center and cafe near I-287.
      60 Columbia Rd, Morristown, NJ 07960
      View Details
    • $650 /Mo

      Downtown Morristown Office Space Available

      Move-in ready office space in the heart of Morristown.
      51 South St, Morristown, NJ 07960
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for rent, close to Morristown Green.
    Where is this retail space located?
    The property is located at 1 Evergreen Pl Morristown, NJ.
    What are key features of this property?
    This property features: - Minutes from Morristown Green; - Proximity to Route 287; - Abundant parking
    (862) 200-0763 Call to check price and availability
    Request Owner's contact information
    1 Evergreen Pl Morristown, NJ 07960
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 Evergreen Pl
    Morristown, NJ 07960
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Evergreen Pl Morristown, NJ 07960
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jack Maier
    Jack Maier
    (862) 200-0763 (973) 884-4444
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!