Technical
Financial
Distress signals
Property profile

11 Hl St Morristown, NJ 07960

OFF-MARKET
Office buildings
Property ID
US59-3192392
2,088 SF 0.2 ac lot Built 1956
Entity Owned 1-yr Hold ~ Est. High Equity
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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

Current use

Occupant on record · Public records
  • Physician
  • Consultant

Location

11 Hl St Morristown, NJ 07960-5328
Morristown metro Census 43601 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$900k
CAP Approach CAP
$525k
Comparable Approach Comparable
by Request
Blend (final) Blend
$875k

Owner & transaction history

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
Top alternative use upside
Commercial (general) $680,000 +55.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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