Commercial Real Estate Market in Morristown, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
59 active listings and 689 off-market properties in Morristown, NJ. Commercial property asks $441/SF to buy (based on 4 listings) and $17.00/SF/Yr to lease (based on 5 listings).
Market Trends
Morristown, NJ spans 34.8 square miles in Morris County, New Jersey. Figures below refresh monthly; last updated 31 October 2026.
Office
Across Morris County, office space asks $200/SF to buy. Office vacancy in Morristown, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Morris County, retail space asks $325/SF to buy. Retail vacancy in Morristown, NJ runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Morristown, 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%.
Multifamily
Across Morris County, multifamily space asks $288/SF to buy. Multifamily vacancy in Morristown, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 61.2%
- Civic 19.2%
- Commercial 10.5%
- Mixed use 8.5%
Largest Zones share of zoned land by district
Morristown, NJ zones 1,562 acres across 12 districts. Commercial zoning covers 10.5% of zoned land, residential 61.2%. The largest single district is Residential Detached at 34.7%. For commercial buyers the practical constraint is that only 10.5% of land carries a commercial or industrial designation.
R District are primarily limited to low-rise detached buildings. b. Estate Overlay (E): The Estate Overlay designation recognizes, preserves, and promotes areas known for their large, architecturally and historically significant structures. Single-family dwellings in this area are relatively large for the parcels on which they are located. Development in the…
Market overview
Demographics & Economy
Morristown, NJ has 45,640 residents in 18,978 households. Density runs 1,312 people per square mile. Median household income here is $149,462 and median gross rent $2,173 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Morristown?
How much does it cost to lease commercial space in Morristown?
What zoning applies to commercial property in Morristown?
Where does Realmo's Morristown market data come from?
Methodology & data sources
- Asking prices and medians
- There are 18 active for-sale and 41 active for-lease listings in Morristown, NJ. The medians are based on 4 of the for-sale and 5 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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.
- Zoning and land use
- The current municipal zoning release: 1,562 zoned acres across 12 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 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 October 2026 · How Realmo checks market page data · Report a data issue
