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Property profile & analytics
FOR LEASE
Super regional malls

21 Speedwell Ave Morristown, NJ 07960

Built 1982
Entity Owned 2-yr Hold Free & Clear
Property ID
US59-1956943
Property summary
AI-generated overview

This exceptional Class A retail space, located at 21 Speedwell Ave in Morristown, NJ 07960, offers 6,346 square feet of prime commercial real estate. Ideal for multiple tenants, with a minimum divisible space of 1,500 square feet, this ground floor retail or restaurant space boasts 58 feet of frontage and impressive 17-foot ceilings. The property benefits from a highly desirable location in the heart of Morristown's downtown area, anchored by an AMC Theatre and the recently renovated Hyatt Regency (256 keys). Its proximity to Valley Bank's new corporate headquarters ensures high foot traffic and visibility. The surrounding area boasts strong demographics, with 123,000 residents and a median income of $141,000 within a 5-mile radius. Convenient access to NJ Transit provides direct service to New York City and Hoboken. A significant advantage is the on-site 3,000-space parking garage, ensuring ample parking for customers and employees. This is a truly exceptional opportunity for businesses seeking a prominent and well-connected location in a thriving downtown area.

Property profile
Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1982
Zoning code UR
APN 24 04901-0000-00001- 04
UPID US59-1956943
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
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history
21 Speedwell Place Jb LLC · 2 yrs held
21 Speedwell Place Jb LLC
since 2023
2 recorded transactions
2023
$1.4M
2015
$665,000
Zoning & alternative use
UR · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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