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Property profile & analytics
OFF-MARKET
Estimated value
$1,875,000
Office buildings
10 Wilmot St Morristown, NJ 07960-4198
Individually Owned
Free & Clear
Property ID
US59-1911465
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
8,592 SF
Lot
0.12 ac (5,397 SF)
Zoning code
CBD
APN
24 04801-0000-00022
UPID
US59-1911465
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Element Six Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Bruzzichesi Orthodontics Dental Office
-
Robert Derector Associates Engineering Consultant
-
Boomerang Fitness Gym & Fitness Center
-
Morristown Farmers Market Specialty Food Shop Farmer's Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.16M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.88M
Owner & transaction history
NOT AVAILABLE FROM DATA SOURCE
NOT AVAILABLE FROM DATA SOURCE
Zoning & alternative use
CBD · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.8M
+55.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,335,000
6.5%
$2,155,000
7%
$2,005,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,800,000
Current use
COMMERCIAL (GENERAL)
$2,795,000
Change: +55% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,535,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.88M
Range $1.69M – $2.06M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$218 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$20,517
Tax year 2023
Assessed value
$1,832,100
Assessed 2024
Previous assessed
$1,832,100
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$1,150,000
Assessed improvement
$682,100
Land market value
$1,150,000
Improvement market value
$682,100
Total market value
$1,832,100
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
NONE
Stories
3
Total area
8,592 SF
Lot
0.12 ac (5,397 SF)
Zoning code
CBD
APN
24 04801-0000-00022
UPID
US59-1911465
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Morristown, NJZoning CBD · permitted uses
CBD · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Stories
3
Lot
0.12 ac
Current owner
From public records · entity-resolved
NOT AVAILABLE FROM DATA SOURCE
Individual
Free & Clear · 0 yrs held
Mailing address
10 WILMOT ST, MORRISTOWN, NJ 07960-4198
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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