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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Office buildings
15 Mt Kemble Ave Morristown, NJ 07960-8610
Entity Owned
16-yr Hold
Free & Clear
Property ID
US59-0632384
Property summary
AI-generated overview
This exceptional Class A office building, located in Morristown's Town Center Historic District, offers 5,120 square feet of versatile space ideal for a variety of businesses. Built in 1994 and renovated in 2016, the three-story building sits on a 9,147.6 square foot lot and features thirteen plus parking spaces. The single-tenant space is zoned B and offers a blend of executive, creative, and traditional office layouts, making it suitable for law firms or other professional practices. The property boasts multiple conference rooms, designed to facilitate productive meetings and client consultations. Its central Morristown location provides easy access to restaurants, shops, and public transportation, including the nearby Morristown train station. The building's modern design and decor create a professional and elegant atmosphere. Gas and electric power are available. This turn-key property presents a unique opportunity to establish a prominent presence in a thriving commercial hub. The property is conveniently located at 15 Mt Kemble Ave, Morristown, NJ 07960, near Entrance Ave.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1916
Construction
FRAME
Total area
4,141 SF
Lot
0.21 ac (9,187 SF)
Zoning code
B
APN
24 06003-0000-00019- 01
UPID
US59-0632384
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
-
O'Donnell Mc Cord Pc Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$425k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$702k
Blend (final)
Blend
$675k
Owner & transaction history
15 Mt Kemble Avenue LLC · 16 yrs held
15 Mt Kemble Avenue LLC
since 2010
2 recorded transactions
Zoning & alternative use
B · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$865,000
Current use
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$163 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$17,018
Tax year 2022
Assessed value
$568,600
Assessed 2023
Previous assessed
$568,600
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$448,000
Assessed improvement
$120,600
Land market value
$448,000
Improvement market value
$120,600
Total market value
$568,600
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
Year built
1916
Construction
FRAME
Heating
NONE
Stories
2
Total area
4,141 SF
Lot
0.21 ac (9,187 SF)
Zoning code
B
APN
24 06003-0000-00019- 01
UPID
US59-0632384
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B · Morristown, NJZoning B · permitted uses
B · 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
$865,000
OFFICE BUILDING Current
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
Year built
1916
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
15 Mt Kemble Avenue LLC
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 9149, MORRISTOWN, NJ 07963-9149
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2010
$999,000
15 Mt Kemble Avenue LLC
Mt Kemble Office Center LLC
Grant Deed
—
—
—
15 Mount Kemble Avenue LLC
—
Deed Of Trust
related
$694,000 · Regal Bank
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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