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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.
Highlights
7,475 SF, three-story building on a 0.1-acre lot in Morristown, NJ's Town Center District.
Vacant, offering flexible use options including retail, office, and restaurant.
Prime location on Morristown Green with high visibility and traffic counts exceeding 25,000 vehicles daily.
Excellent access to major transportation arteries, including the Morristown Train Station (0.4 miles).
Strong demographics: over 60,100 residents within 3 miles, average household income exceeding $213,594.
Surrounded by national retailers, restaurants, and office complexes.
Property Details
for 22 Park Pl
Property type
Other retail properties, Individual retail properties
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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