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    Property profile & analytics

    240 Martin Luther King Ave Morristown, NJ 07960-4044

    • Industrial properties
    • 17,600 SF
    • 2.28 lot acres
    OFF-MARKET
    Value Estimation
    $630,000
    Location Intelligence
    Property ID
    US59-1319850
    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.

    Current Use by Public Records

    • Industrial properties

    Property Details for 240 Martin Luther King Ave

    Year built
    1986
    Construction
    BRICK
    Lot size
    2.28 lot acres
    Property size
    17,600 SF
    Zone code
    B-11
    Property type
    Industrial properties
    APN
    22 10312-0000-00001
    APU
    2210312000000001

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $640,000

    • CAP approach

      CAP return
      Estimation
      6%
      $570,000
      6.5%
      $595,000
      7%
      $570,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $635,000
      Geo Method
      $545,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $585,000
      Retail
      $725,000
      Mixed-Use
      $645,000
      Hospitality
      $665,000
      Educational
      $770,000
      Residential Income
      $650,000
      Energy
      $630,000
      Income-Based Land
      $700,000
      Food Service
      $775,000

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.473
    Latitude
    40.8084
    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
    $23,342
    $513,500
    $681,700
    $1,195,200
    -
    $513,500
    $681,700
    $1,195,200

    Comparable in this City

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      268 Martin Luther King Ave

      INDUSTRIAL (GENERAL) • 296,000 SF
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    • Value Estimation by Request
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      INDUSTRIAL (GENERAL) • 10,472 SF
      103 Ridgedale Ave, Morristown, NJ 07960-4290
      View Details
    • Value Estimation by Request
      5.80 Acres

      108 Industrial Campus

      Industrial properties • 5.80 Acres
      108 Industrial Campus, Morristown, NJ 07960
      View Details

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    240 Martin Luther King Ave
    Morristown, NJ 07960-4044
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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