25 Market StMorristown, NJ 07960

For Sale
$7,850,000

Prime 0.3-acre site, mixed-use potential.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 0.302-acre land parcel presents a unique development opportunity in the heart of Morristown, New Jersey. Located at 25 Market Street, this site offers a blank canvas for creating a high-impact residential project, potentially accommodating up to 55 units. The property benefits from its central location within a thriving community, boasting a 98 Walk Score and proximity to numerous amenities. Morristown's robust economy, anchored by major employers like Atlantic Health, Bayer, Deloitte, and Crum & Foster, ensures a strong demand for residential units. The area's affluent demographics, with a highly educated and economically stable workforce, further enhance the investment potential. Convenient access to public transportation, including the Morristown Train Station (half a mile away) with direct access to New York City, and major roadways like State Route 287 and State Route 202, adds to the site's appeal. The proximity to "The Green" provides a vibrant community environment, while the nearby Morristown Medical Center, ranked #1 in New Jersey, underscores the area's high quality of life. On-site and off-site parking is secured. The site's location within Morris County, consistently ranked among the wealthiest counties in the United States, guarantees a strong and growing market for residential development. The projected population growth and increased purchasing power within a five-mile radius further solidify this investment opportunity. This property is priced at $7,850,000.

Highlights

  • 0.302-acre land parcel in downtown Morristown, NJ.
  • Potential for 55 residential units.
  • Secured on-site and off-site parking.
  • Blank canvas site for optimal development.
  • Affluent community with a highly educated and economically stable workforce.
  • Strong economic drivers supporting residential demand.

Property Details for 25 Market St

Property type
Other land, Land
Lot Size (sq. ft)
13,155 SF

Location Insight

City
Morristown
County
Morris
State
New Jersey
Latitude
40.796035586946
Longitude
-74.482290536262
25 Market St, Morristown, New Jersey

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25 Market St
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