Individually Owned
No photos on file
For Lease
$1,300/Mo
14 Elm St, Morristown, NJ 07960
View Listing →
Property summary
AI-generated overview
This one-bedroom apartment is located in the historic Morristown area, one block from the Mid-Town Direct Train, with access to nearby shops and restaurants. The unit is set up so that most utilities are included, with electricity and internet excluded. The apartment is within walking distance of local amenities, and the area has pedestrian and transit scores indicating walkability and some public transportation access.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1900
Construction
FRAME
Total area
5,049 SF
Lot
0.17 ac (7,292 SF)
Zoning code
CBD
APN
24 04701-0000-00027
UPID
US59-2965733
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
-
Vocational School
-
Art Gallery
-
Theater & Performing Art Venue
-
Tech Support Center (Bike/Boat/Book/etc) Store
-
Family Counselor Doctor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$425k
CAP Approach
CAP
$570k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$630k
Owner & transaction history
2 recorded transactions
Zoning & alternative use
CBD · Morristown, NJ
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 72 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$630k
Value range
$567k – $693k
±10% around blend
Estimated value / SF
$125 / SF
Confidence
High
72 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$567k
blend $630k
$693k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,049 SF
Lot area
0.17 ac
Year built
1900
Stories
3
APN
24 04701-0000-00027
Zoning
CBD
Assessed value
$1,380,100
Annual tax
$19,605
3
Income approach: direct capitalization
Partial preview
Income approach indication
$570k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$620k
@ 6.5% CAP return
$570k
@ 7% CAP return
$530k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$19,605
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.21M
Weighted, 20 comps · high confidence
Evidence
72 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.1 mi away · 3,843 SF
6.9 mi away · 4,011 SF
8.2 mi away · 5,300 SF
10.5 mi away · 4,825 SF
11.1 mi away · 5,696 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$630k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 57 sales
$325
-62%
Submarket 57 sales
$325
-62%
County 762 sales
$243
-49%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $125/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 72 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
8.70%
Selected cap rate for this other commercial real estate
Derived from the Morristown market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.70%
9.0%
NOI (est.)
$8k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$88k
Move the market yield to see immediate price impact.
Value / SF
$17
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.20%8.70%9.20%
$7k
$84k
$79k
$75k
$8k
$93k
$88k
$83k
$8k
$103k
$97k
$91k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
72 found
High confidence · county-verified
Closest comparable
$2.15M
3.9 mi · Dec 2025 · $381/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$19,605
Tax year 2023
Assessed value
$1,380,100
Assessed 2024
Previous assessed
$1,380,100
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$940,000
Assessed improvement
$440,100
Land market value
$940,000
Improvement market value
$440,100
Total market value
$1,380,100
Applied tax rate
24.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1900
Construction
FRAME
Heating
NONE
Stories
3
Total area
5,049 SF
Lot
0.17 ac (7,292 SF)
Zoning code
CBD
APN
24 04701-0000-00027
UPID
US59-2965733
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
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
NONE
Stories
3
Lot
0.17 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CBD
Jurisdiction
Morristown, NJ
Recorded code
CBD
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD in Morristown, NJ.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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