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Property profile & analytics
OFF-MARKET Estimated value $865,000
Office buildings

11 Hl St Morristown, NJ 07960-5328

2,088 SF 0.2 ac lot Built 1956
Entity Owned ~ Est. High Equity
Property ID
US59-3192392
Property summary
AI-generated overview

This exceptional 2,088 square foot free-standing office building is ideally situated in the heart of downtown Morristown, New Jersey. Currently configured as a graphic design studio, this versatile property offers a multitude of potential uses, including medical, legal, or therapeutic practices. The main floor boasts five individual offices, a welcoming reception area, a convenient kitchenette, and a half bathroom. The lower level features a spacious meeting room, a comfortable sitting area, and a full bathroom. Tax records indicate a total area of 2,088 square feet, encompassing the finished basement space. The property provides ample off-street parking for eight vehicles. Its location offers unparalleled convenience, with proximity to the Morristown train station, a vibrant array of restaurants, and diverse shopping options. Previously used as a doctor's office, this well-maintained building is zoned for commercial use, although prior zoning approvals indicated potential for residential conversion with the appropriate permits. The property is also available for lease, and current furnishings are negotiable. This presents a unique opportunity to acquire a prime commercial property in a highly desirable location. The 0.2-acre lot provides a comfortable setting for this established business.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1956
Construction FRAME
Total area 2,088 SF
Lot 0.2 ac (8,773 SF)
Zoning code RT
APN 24 04501-0000-00040
UPID US59-3192392
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
  • Dr. John P. O'grady, MD Physician
  • Station Partners Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$900k
CAP Approach CAP
$525k
Comparable Approach Comparable
by Request
Blend (final) Blend
$865k
Owner & transaction history
Knightly Investments LLC
Knightly Investments LLC
since 2025
Last sale
$840,000
7 recorded transactions
2025
$840,000
2022
$725,000
2018
Price N/A
2018
Price N/A
2017
Price N/A
2015
$400,000
2012
Price N/A
Zoning & alternative use
RT · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $680,000 +55.3%
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