25 Market St Morristown, NJ 07960

Property Details for 25 Market St

Lot size

0.30 lot acres

Property type

Land

Description

This exceptional 0.302-acre land parcel presents a unique development opportunity in the heart of Morristown, New Jersey. Located at 25 Market Street, this site offers a blank canvas for creating a high-impact residential project, potentially accommodating up to 55 units. The property benefits from its central location within a thriving community, boasting a 98 Walk Score and proximity to numerous amenities. Morristown's robust economy, anchored by major employers like Atlantic Health, Bayer, Deloitte, and Crum & Foster, ensures a strong demand for residential units. The area's affluent demographics, with a highly educated and economically stable workforce, further enhance the investment potential. Convenient access to public transportation, including the Morristown Train Station (half a mile away) with direct access to New York City, and major roadways like State Route 287 and State Route 202, adds to the site's appeal. The proximity to "The Green" provides a vibrant community environment, while the nearby Morristown Medical Center, ranked #1 in New Jersey, underscores the area's high quality of life. On-site and off-site parking is secured. The site's location within Morris County, consistently ranked among the wealthiest counties in the United States, guarantees a strong and growing market for residential development. The projected population growth and increased purchasing power within a five-mile radius further solidify this investment opportunity. This property is priced at $7,850,000.