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Property profile & analytics
OFF-MARKET
Estimated value
$25,925,000
Industrial properties
268 Martin Luther King Ave Morristown, NJ 07960-4096
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-2152656
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1986
Construction
METAL FRAME
Total area
296,000 SF
Lot
17.3 ac (753,588 SF)
Zoning code
I-21
APN
22 10401-0000-00002
UPID
US59-2152656
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
Current use
Occupant on record · Public records
-
AMS LOGISTICS, 268 MARTIN LUTHER KING AVE, Morristown, NJ, USA Warehouse & Storage
-
CarLink Auto Repair of Morristown Auto Repair Shop
-
AMS Logistics Logistics Company Freight Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$25.93M
Owner & transaction history
Cory Road Associates LLC · 4 yrs held
Cory Road Associates LLC
since 2022
6 recorded transactions
Zoning & alternative use
I-21 · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$88 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$275,002
Tax year 2022
Assessed value
$14,081,000
Assessed 2023
Previous assessed
$14,081,000
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$6,055,000
Assessed improvement
$8,026,000
Land market value
$6,055,000
Improvement market value
$8,026,000
Total market value
$14,081,000
Applied tax rate
22.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1986
Construction
METAL FRAME
Heating
NONE
Stories
1
Units
1
Total area
296,000 SF
Lot
17.3 ac (753,588 SF)
Zoning code
I-21
APN
22 10401-0000-00002
UPID
US59-2152656
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I-21 · Morristown, NJ
Zoning I-21 · permitted uses
I-21 · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
METAL FRAME
Heating
NONE
Stories
1
Units
1
Lot
17.3 ac
Current owner
From public records · entity-resolved
Cory Road Associates LLC
Entity
Mailing address
111 5TH AVE FL, NEW YORK, NY 10003-1005
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2022
—
Cory Road Associates LLC
Cory Road Associates LLC
Correction Deed
related
—
Aug 4, 2017
—
Sba Monarch Towers I LLC
—
Loan Modification
related
—
Jun 11, 2014
—
Sba Monarch Towers I LLC
—
Deed Of Trust
related
—
Mar 26, 2009
—
Mobilitle Investments II LLC
—
Deed Of Trust
related
$600,000,000 · General Electric Capital Corp
Sep 23, 2005
$1
One Cory Road Associates LLC
One Cory Road Associates
Grant Deed
related
—
—
—
One Cory Road Associates LLC
—
Deed Of Trust
related
$1,500,000 · Provident Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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