Back to Search
Property profile & analytics
FOR LEASE
Commercial real estate
18 Elm St Morristown, NJ 07960
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US59-0632385
For Lease
1 / 8
$1,100/Mo
18 Elm St, Morristown, NJ 07960
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1910
Construction
FRAME
Total area
4,967 SF
Lot
0.18 ac (8,046 SF)
Zoning code
CBD
APN
24 04701-0000-00025
UPID
US59-0632385
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
-
Material Technology Solutions Building Supply Mill
-
Affiliated Psychotherapists: Chartoff Susan Physician Medical Clinic
-
Affiliated Psychotherapists: Chartoff Marvin Physician Medical Clinic
-
The Yoga Way Therapy Center Gym & Fitness Center
-
Affiliated Psychotherapists Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$400k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$600k
Owner & transaction history
David E Schleicher
David E Schleicher
2 recorded transactions
Zoning & alternative use
CBD · 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
$400,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$560,000
7%
$520,000
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$121 / 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
$16,425
Tax year 2023
Assessed value
$1,305,100
Assessed 2024
Previous assessed
$1,305,100
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$634,500
Assessed improvement
$670,600
Land market value
$634,500
Improvement market value
$670,600
Total market value
$1,305,100
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1910
Construction
FRAME
Heating
NONE
Stories
2
Total area
4,967 SF
Lot
0.18 ac (8,046 SF)
Zoning code
CBD
APN
24 04701-0000-00025
UPID
US59-0632385
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Morristown, NJ
Zoning CBD · permitted uses
CBD · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1910
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
David E Schleicher
Individual
Mailing address
6 CRISTINA CT, CHESTER, NJ 07930-2313
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
David E Schleicher
—
Deed Of Trust
related
$60,000 · First Union National Bank
—
—
David E Schleicher
—
Deed Of Trust
related
$65,440 · Peapack Gladstone 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
