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    40 Park Ave Morristown, NJ 07960

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    For Lease
    $27 SF/Yr ($4,428 /Mo)

    Retail space with visibility on The Green in Morristown.

    Property size:
    1,968 SF
    Lot size:
    0.78 Acres

    Property Features for 40 Park Ave

    General Information

    Size
    1,968 SF
    Lot size
    0.78 Acres

    Source: JLL | Parsippany Agent Craig Parcells

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

    Overview

    Retail Space on Morristown Green

    This retail space is located with direct access to the Morristown Green, a two-acre park in the center of Morristown. The property is near Headquarters Plaza, Morristown Medical Center, and Morristown Station. Tenants will have signage opportunities on the ground floor level next to Starbucks. The space offers flexibility to fulfill various space requirements. It features a 16-foot ceiling height. Parking is available in the Dalton Parking Garage, which offers 677 spaces and is located adjacent to the building. The property size is 1,968 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U&Y Garage Door ... Garage Door Supplier

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Building Supply Auto Repair Shop Gym & Fitness Pharmacy Wholesale Shop Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.432944
    Latitude
    40.79907

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    FAQs

    What type of property is this?
    Retail space - Retail space with visibility on The Green in Morristown.
    Where is this retail space located?
    The property is located at 40 Park Ave Morristown, NJ.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: - Directly on the Morristown Green, a central two-acre park.; - High visibility with signage opportunity next to Starbucks.; - Close proximity to Headquarters Plaza, Morristown Medical Center, and Morristown Station.
    (973) 829-4800
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    40 Park Ave Morristown, NJ 07960
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    Morristown, NJ 07960
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    Realmo Value Estimation

    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.

    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.

    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
    40 Park Ave Morristown, NJ 07960
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