Commercial Real Estate Market in Morris Plains, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
15 active listings and 215 off-market properties in Morris Plains, NJ. Commercial property asks $286/SF to buy and $19.75/SF/Yr to lease.
Market Trends
Morris Plains, NJ spans 9.1 square miles in Morris County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Morris Plains, NJ asks $200/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Morris Plains, NJ asks $325/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Morris Plains, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Morris Plains, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
Morris Plains, NJ has 21,459 residents in 8,460 households. Density runs 2,355 people per square mile. Median household income here is $148,469 and median gross rent $2,549 a month.
21,459
Population
8,460
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
96%
High-School Grad
9.1 sq mi
ZIP Area
2,355
Density / Sq Mi
$148,469
Median Household Income
$80,217
Median Earnings
$2,549
Median Rent
$571,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cedar Knolls | — | — |
| Tabor | — | — |
| Morristown | — | $22.10 |
| Parsippany | — | $20.76 |
Commercial property in Morris Plains, NJ asks $286/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Morris Plains?
Commercial property in Morris Plains, NJ asks an average of $286 per square foot. The 4 most recent recorded sales traded at a median of $334/SF. Retail carries the highest asking price at $325/SF.
How much does it cost to lease commercial space in Morris Plains?
Asking lease rates in Morris Plains, NJ average $19.75 per square foot per year.
Where does Realmo's Morris Plains market data come from?
Realmo compiles Morris Plains, NJ figures from 7 recent recorded sales, 8 active sale listings, 7 active lease listings, 215 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 8 active for-sale and 7 active for-lease listings in Morris Plains, NJ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
