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

    151 South St Morristown, NJ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    2380 SF retail space with excellent visibility and parking.

    Type:RETAIL
    Property size:
    2,380 SF
    Lot size:
    0.18 Acres
    Added:
    May 30, 2025
    Days on Market:
    339
    Last Refresh:
    Apr 5 at 10:55 pm

    Property Features for 151 South St

    General Information

    Standard status
    Active
    Size
    2,380 SF
    Lot size
    0.18 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 151 South St Contact us

    We can help!

    Listing Contact
    David Bieber
    David Bieber

    Listing agent David Bieber

    Listing office Newmark & Associates, Inc.

    Listing date May 30, 2025

    Source Moodyscre

    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 Newmark & Associates, Inc.

    Overview

    Retail Space on South Street

    This 2380 square foot retail space offers excellent visibility and frontage on South Street. The current layout includes a kitchenette, private restrooms, a conference room, and open space. It features dedicated parking and entrances from both South Street and the rear parking lot. The location is next door to Swiss Chalet Bakery and across from Cluck U Chicken and The Teaching Room. It is also within walking distance to the Morristown Green, shops, and restaurants, and is located 0.3 miles from the Morristown NJ Transit Train Station. The property was previously used as a bank.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Glassworks Studio Event Venue ATM Somerset Hills ... Bank Cozy Formal Wear (Bike/Boat/Book/etc) Store Lakeland Bank Loan Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4768
    Latitude
    40.7924

    Nearby Similar for Lease

    • $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
    • $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

      High-Visibility Morristown Retail/Office Space

      Prime 4,417 SF space near Morristown Hospital.
      211 South St, Morristown Town, NJ 07960
      View Details
    • $6,250/Mo

      Downtown Commercial Space For Rent

      Prime location near Morristown Green with high foot traffic.
      34 Speedwell Ave, Morristown Town, NJ 07960
      View Details
    • Sponsored
      Contact for pricing

      Morristown

      55 Madison Ave, Unit 400, Morristown, NJ 07960
      View Details
    • $1,250/Mo

      Morristown Office Space for Lease

      Office suites available for lease in Morristown, New Jersey.
      1099 Mount Kemble Avenue, Morristown, NJ 07960
      View Details
    • $1,000/Mo

      Updated Office Space Near Hospital

      Prime location office space near Morristown Medical Center.
      59 Franklin St, Morristown Town, NJ 07960
      View Details
    • Contact for pricing

      Morristown Retail Space Available

      Retail spaces available from 1100 to 3600 sq. ft.
      60 Washington St, Morristown, NJ 07960-6844
      View Details
    • $895/Mo

      Private Office Near South Street

      Professionally occupied office building near downtown Morristown.
      13 James St, Morristown Town, 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 Town, NJ 07960
      View Details
    • $900/Mo

      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

      Downtown Morristown Office Space

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

    FAQs

    What type of property is this?
    Retail space - 2380 SF retail space with excellent visibility and parking.
    Where is this retail space located?
    The property is located at 151 South St Morristown, NJ.
    What are key features of this property?
    This property features: Excellent visibility and frontage on South Street.; Dedicated parking for your convenience.; Walking distance to the Morristown Green, shops, and restaurants.
    (973) 216-1395 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Bieber
    David Bieber
    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

    151 South St, Morristown, NJ

    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!