Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Charming Three-Story Unit Near Downtown Title is generated by Realmo AI

    182 Morris St B, Morristown, NJ 07960

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,600 /Mo

    Three-story unit with ample sunlight, charm, and convenient location.

    Type:Multi Family
    Lot size:
    0.24 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    60
    Last Refresh:
    Mar 24 at 6:09 am

    Property Features for 182 Morris St B

    General Information

    Standard status
    Active
    Lot size
    0.24 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1870

    We can help!

    Listing Contact
    ZANDER OLDENDORP

    Listing agent ZANDER OLDENDORP

    Listing office

    Listing date Mar 25, 2026

    Source Elliman

    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 ZANDER OLDENDORP

    HighLights

    • Minutes to downtown Morristown
    • Features 3 bedrooms and 2 full bathrooms
    • Two dedicated parking spaces included
    • Three‑story unit with ample sunlight
    • Enjoy the covered deck
    • Part of a four‑family building

    Overview

    This three-story unit, part of a four-family building, features three bedrooms and two full bathrooms. The unit benefits from ample sunlight and notable curb appeal, and is located minutes from downtown Morristown. The first floor serves as a vestibule or mudroom. The main floor includes a kitchen that opens to a dining or family room, a large family room or bedroom with oversized windows, a full bath, and a covered deck. The top floor contains two bedrooms, one full bath, and laundry facilities. Two parking spaces are included with the unit.
    Location Intelligence

    Current Use by Public Records

    Maher G A Employment Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Law Firm Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.47076
    Latitude
    40.795788

    Nearby Similar for Lease

    • $4,000/Mo
      1,603 SF

      Morristown Office Space For Rent

      Move-in ready office space near courthouse and vibrant Morristown amenities.
      86 Washington St, Morristown Town, NJ 07960-8608
      View Details
    • $6,250/Mo

      Prime Downtown Morristown Commercial Space

      Commercial space in Morristown's central business district with high visibility.
      34 Speedwell Ave, Morristown Town, NJ 07960-6830
      View Details
    • Sponsored
      Contact for pricing

      Morristown

      55 Madison Ave, Unit 400, Morristown, NJ 07960
      View Details
    • $800/Mo

      Morristown Town First-Floor Office Space

      First-floor office space for rent near Morristown Green.
      5 Maple Ave, Morristown Town, NJ 07960-9437
      View Details
    • $17,688/Mo
      12,500 SF

      High-Visibility Morristown Retail/Office Space

      Prime 4,417 SF space near Morristown Hospital.
      211 South St, Morristown Town, NJ 07960
      View Details
    • $1,250/Mo
      3,300 SF

      Morristown Office Space for Lease

      Office suites available for lease in Morristown, New Jersey.
      1099 Mount Kemble Avenue, Morristown, NJ 07960
      View Details
    • $2,300/Mo
      3,600 SF

      Morristown Retail Space Available

      Retail spaces available from 1100 to 3600 sq. ft.
      60 Washington St, Morristown, NJ 07960-6844
      View Details
    • $650/Mo
      101 SF

      Downtown Morristown Office Space Available

      Move-in ready office space in the heart of Morristown.
      51 South St, Morristown Town, NJ 07960
      View Details
    • $900/Mo
      292 SF

      Morristown Office Space For Rent

      Move-in ready office space in the heart of Morristown.
      51 South St, Morristown Town, NJ 07960
      View Details
    • $500/Mo
      109 SF

      Downtown Morristown Office Space

      Move-in ready office space in the heart of Morristown.
      51 South St, Morristown Town, NJ 07960
      View Details
    • $950/Mo
      247 SF

      Downtown Morristown Office Space Available

      Move-in ready office space in the heart of Morristown.
      51 South St, Morristown Town, NJ 07960
      View Details
    • $27 SF/Yr
      88,182 SF

      Morristown Office Space for Rent

      Office spaces available in Morristown with complex amenities.
      161-163 Madison Avenue, Morristown, NJ 07631
      View Details

    FAQs

    What type of property is this?
    Quadplex - Three-story unit with ample sunlight, charm, and convenient location.
    Where is this quadplex located?
    The property is located at 182 Morris St B Morristown, NJ.
    What is the lease rate?
    The lease rate is $3,600 /Mo.
    What are key features of this property?
    This property features: Minutes to downtown Morristown; Features 3 bedrooms and 2 full bathrooms; Two dedicated parking spaces included
    (908) 273-2991
    We can help!
    Listing Contact
    ZANDER OLDENDORP
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    182 Morris St B, Morristown, NJ 07960-4216
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!