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Property profile & analytics
OFF-MARKET
Estimated value
$97,955,000
Commercial real estate
340 Mt Kemble Ave Morristown, NJ 07960-6679
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US59-3140589
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1981
Total area
413,000 SF
Lot
40.08 ac (1,745,885 SF)
Zoning code
OL40
APN
22 06101-0000-00005
UPID
US59-3140589
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
-
Jeffrey J Berns - Morgan Stanley Financial Advisor
-
Howard Parker - Morgan Stanley Financial Advisor
-
The PGP Group - Morgan Stanley Financial Advisor
-
The Regan Group - Morgan Stanley Financial Advisor
-
Stephen J Brady - Morgan Stanley Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$93.36M
Blend (final)
Blend
$97.96M
Owner & transaction history
Ics Junction Nj LLC · 1 yrs held
Ics Junction Nj LLC
since 2025
Last sale
$118.5M
7 recorded transactions
Zoning & alternative use
OL40 · 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
Method
Estimation
Statistic approach
$112,760,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$97.96M
Range $88.16M – $107.75M · ±10% · vs last sale $118.50M (Jan 28 2025)
Last sale anchor
$118.50M
Jan 28 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$237 / 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
$1,029,368
Tax year 2022
Assessed value
$48,555,500
Assessed 2023
Previous assessed
$52,707,000
-7.9% YoY
Effective rate
2.12%
On assessed value
Assessed land
$11,610,000
Assessed improvement
$36,945,500
Land market value
$11,610,000
Improvement market value
$36,945,500
Total market value
$48,555,500
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1981
Heating
NONE
Stories
3
Units
1
Rooms
6
Total area
413,000 SF
Lot
40.08 ac (1,745,885 SF)
Zoning code
OL40
APN
22 06101-0000-00005
UPID
US59-3140589
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
OL40 · Morristown, NJ
Zoning OL40 · permitted uses
OL40 · 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
1981
Heating
NONE
Stories
3
Units
1
Rooms
6
Lot
40.08 ac
Current owner
From public records · entity-resolved
Ics Junction Nj LLC
Entity
Mailing address
PO BOX 680711, CHARLOTTE, NC 28216-0087
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2025
$118,500,000
Ics Junction Nj LLC
340 Mt Kemble Owner LLC
Bargain & Sale Deed
$72,950,000 · Societe Generale Financial Corp
Jan 27, 2023
—
340 Mt Kemble Owner LLC
—
Deed
related
$85,000,000 · Valley Bank
Jan 24, 2020
—
340 Mt Kemble Owner LLC
—
Deed
related
$69,768,000 · Bsprt Cre Fin LLC
Aug 9, 2016
$7,612,500
340 Mt Kemble Owner LLC
Csfb 2004-c5 Mount Kemble Aven
Grant Deed
—
Jul 15, 2016
—
Wells Fargo Bank NA 2004-c5 Tr
Sheriff Of Morris County|aj Morris Owner Corp
Trustees Deed
related
—
Nov 24, 2015
$44,211,694
Csfb-2004-cs Mount Kemble Aven
Sheriff Of County Of Morris|aj Morris Owner Corp
Trustees Deed
related
—
—
—
340 Mt Kemble Owner LLC
—
Deed Of Trust
related
$69,768,000 · Bsprt Cre Fin LLC
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.
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