Downtown Morristown Mixed-Use
4 Perry St Morristown, NJ 07960
4 Perry St, Morristown, NJ, 07960
$1,450,000
For Sale
$1,450,000
Mixed-use property in Downtown Morristown near transit and amenities.
Property Size3,586 SF
Price / SF$404.35
Days on Market66
Property Features for 4 Perry St
General Information
- Standard status
- Active
- Size
- 3,586 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1870
Listing Agency
J GRAHAM REALTY LLC
(973) 540-1232
Listed by
JEROME GRAHAM
Source
Elliman
Added: May 12 Checked: Jul 10 at 3:57 pm
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 J GRAHAM REALTY LLC
Investment Insights
Based on property information with market context.
This mixed-use property is located in Downtown Morristown, near the train station, public transit, restaurants, and theaters. The first floor features three private offices, a reception area, a waiting room, a kitchenette, a print and copy area, and a bathroom. The upper level offers apartments, providing an opportunity for rental income or on-site living while managing a business downstairs. Alternatively, the building could be converted into a single-family townhome or held as an investment. The property is approximately 3,586 square feet, with an additional 192 square feet porch and 192 square feet second floor balcony. Permitted uses include general and professional offices, medical, art gallery, child-care center, single-family, and multi-family. The property is connected to 2 Perry Street. The walk score is 79, making it very walkable, the bike score is 43, making it somewhat bikeable, and the transit score is 28, indicating some transit options.
Key Highlights
- Prime Downtown Morristown location, steps from train, transit, restaurants, and theaters.
- Versatile mixed‑use property suitable for business, residential, or investment purposes.
- First floor features multiple offices, reception area, kitchenette, and bathroom.
Local Financial Insights For Office B
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 | $107.6k | $30.00 |
| − Vacancy | −$34.4k | −$9.60 |
| EGI | $73.2k | $20.40 |
| − OpEx | −$18.3k | −$5.10 |
| NOI | $54.9k | $15.30 |
3,586 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$783.8K
$685.8K – $914.4K
NOI $54,866 @ 7.0% cap · market cap 3.78%
Second Best
Mixed Use
$376.1K
$329.1K – $438.8K
NOI $26,327 @ 7.0% cap · market cap 1.82%
Theoretical Best
Office A
$936.4K
$819.3K – $1.09M
NOI $65,546 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Margaret Ospina, NP
Physician
Carly M. Ferrara, ...
Physician
Dicenzo-Flynn Carla F ...
Physician
Kidney Nutrition Clinic ...
Medical Clinic
Metanu Center
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property in Downtown Morristown near transit and amenities.
Where is this mixed-use property located?
The property is located at 4 Perry St Morristown, NJ.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Prime Downtown Morristown location, steps from train, transit, restaurants, and theaters.; Versatile mixed‑use property suitable for business, residential, or investment purposes.; First floor features multiple offices, reception area, kitchenette, and bathroom.
