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Property profile

21 Speedwell Ave Morristown, NJ 07960

FOR LEASE
Super regional malls
Property ID
US59-1956943
Built 1982
Entity Owned 2-yr Hold Free & Clear
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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

Location

21 Speedwell Ave Morristown, NJ 07960
Morristown metro Census 43802 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2023
2 recorded transactions
2023
$1.4M
2015
$665,000

Zoning & alternative use

UR · Morristown, NJ

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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