22 Park Pl Morristown, NJ 07960-3979
Property profile & analytics
22 Park Pl Morristown, NJ 07960-3979
- Commercial real estate
- 7,475 SF
- 0.10 lot acres
Property ID
US59-1137764
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Advokat & Rosenberg / Law Firm
- Flood Law Offices LLC / Law Firm
- Korn Herbert M / Law Firm
- Law Offices of Barry M. Bordetsky / Law Firm
- Bernard J Recenello Esq / Law Firm
Property Details for 22 Park Pl
- Construction
- BRICK
- Lot size
- 0.10 lot acres
- Property size
- 7,475 SF
- Zone code
- CBD
- Property type
- Commercial real estate
- APN
- 24 05901-0000-00004
- APU
- 2405901000000004
Description
This exceptional mixed-use property, located at 22 N Park Pl in Morristown, NJ, presents a compelling investment opportunity. The 7,475 square foot, three-story building sits on a 0.1-acre lot (4,369 square feet) and is currently vacant, offering flexibility for various uses. Built in 1970, the structure is in good condition and benefits from a highly desirable TC - Town Center District zoning, allowing for a wide range of permitted uses, including art galleries, childcare centers, convenience stores, markets, various office types, service businesses, restaurants, retail, community centers, and government offices. The property's strategic location along the Morristown Green provides exceptional visibility and accessibility, with high pedestrian and vehicular traffic counts exceeding 25,000 vehicles daily at the nearby intersection of N Park Place and Washington Street. Its proximity to major transportation arteries, including the Morristown Train Station (0.4 miles), US Route 202, NJ Route 124, Interstate 287, and NJ Routes 24 and 10, ensures convenient commuting. The surrounding area boasts a strong consumer base, with over 60,100 residents within a 3-mile radius and an average household income exceeding $213,594. Furthermore, the property is surrounded by numerous national retailers, restaurants, office complexes, and municipal buildings, contributing to a thriving commercial environment. The asking price is $3,500,000, translating to $468.23 per square foot and $801.10 per square foot for land value. This presents a unique chance to capitalize on a prime location and versatile zoning in a vibrant New Jersey town.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,285,000
- ML approach
- $3,220,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,561,000
Market price range: $1.69M - $3.75M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Morristown
- County
- Morris
- State
- New Jersey
- Longitude
- -74.482
- Latitude
- 40.7973
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$41,687
$435,000
$957,800
$1,392,800
-
$435,000
$957,800
$1,392,800
