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Downtown Morristown Mixed-Use Opportunity

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

AddedMay 12

Days on Market66

Last RefreshJul 2 at 6:35 pm

Property Features for 4 Perry St

General Information

Standard status: Active
Size: 3,586 SF
Property subtype: Commercial

Building Details

Year Built: 1870

Listing office J GRAHAM REALTY LLC

Listing date May 12, 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 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

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 (±1% cap)

NOI $54,866 @ 7.0% cap · market cap 3.78%

Second Best

Mixed Use

$376.1K

$329.1K – $438.8K (±1% cap)

NOI $26,327 @ 7.0% cap · market cap 1.82%

Theoretical Best

Office A

$936.4K

$819.3K – $1.09M (±1% cap)

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

Suggested Use

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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.