22 Park PlMorristown, NJ 07960

For Sale
$3,500,000

7,475 SF, 3-Story Building, Vacant

Overview

Added:
Dec 11, 2024
Days on market:
94
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
Square Feet
7,475 SF
Year Built
1970
Buildings
1
Stories
3
Lot Size (sq. ft)
4,356 SF

Location Insight

City
Morristown
County
Morris
State
New Jersey
Latitude
40.797044874383
Longitude
-74.481869407217
22 Park Pl, Morristown, New Jersey

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22 Park Pl
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