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Property profile

23 Morristown Rd Bernardsville, NJ 07924

FOR SALE
Other commercial real estate
Property ID
US59-1828063
1,512 SF 0.15 ac lot
Last sale Jul 2018 · $330,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 8-yr Hold Held for 8 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This mixed-use building at 23 Morristown Rd in Bernardsville was built in 1920 and is configured with a ground-floor commercial storefront and an apartment above. The residential unit is a one-bedroom, one-bath layout on the upper level, while the ground-floor space is suited for office, retail, service, or professional uses, subject to applicable permitting and buyer due diligence. The property is situated near Bernardsville Train Station and within the downtown area, with proximity to…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$8k
Tax billed · 2022
Assessed value · 2023$392k
Assessed land$260k
Assessed improvement$132k
Effective rate1.93%

Value estimate

· Oct 2026
$310k
$279k – $341k
AI approach$310k
NOI build-up
Gross scheduled income$52k
Vacancy & credit loss−$12k
Operating expenses−$15k
NOI · 4.63% cap applied$25k

Realmo valuation models over county records and 62 qualifying comparable sales.

Recently sold

What actually traded nearby?
$256/SF
County average, outlier-cleaned · 255 recorded sales of this use type
Observed band · Q1–Q3$161 – $386
Qualifying comparables62

Cap rate analysis

How does the asset earn?
4.63%
$25k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
D-CO
Downtown Corridor Subdistrict (D-Co). 1. Description and Intent. The Downtown Corridor subdistrict extends along Morristown Road east of ...
General categoryCIVIC_INSTITUTIONAL
JurisdictionSOMERSET

Location intelligence

Which uses thrive at this corner?
Best fit: Auto Parts Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Auto Parts Store11.2
Law Firm10.5
Storage Facility10.3

Location

23 Morristown Rd Bernardsville, NJ 07924
County assessor Recorded deeds · 8 transfers 62 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
134 Morristown, Bernardsville, NJ 07924-2600 $2,000,000 Jun 2025 1,884 SF
99 Claremont, Bernardsville, NJ 07924-2232 $380,000 Feb 2025 1,980 SF
53 Morristown, Bernardsville, NJ 07924-2336 $675,000 Mar 2023 2,812 SF
35 Ml, Bernardsville, NJ 07924-2250 $365,000 Nov 2021 3,297 SF
25 Claremont, Bernardsville, NJ 07924-2225 $675,000 Nov 2020 2,408 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

Ask Rey → ChatGPT Grok Claude
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