5 Buildings. Industrial. John Street Assoc. | 4 John St
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5 Buildings. Industrial. John Street Assoc. 4 John St
22,230 SF 100% Leased Office Building Morristown, NJ 07960 For Sale
Investment Highlights
- 5 BUILDING MIXED USE PORTFOLIO IN MORRIS TWP, NEW JERSEY
- PERFECT FOR USER TO UTILIZE EXISTING OFFICE/RETAIL SPACES
- EXCELLENT LOCATION ADJACENT TO ROUTE 287. MINUTES TO ROUTE 80, ROUTE 10 & ROUTE 24
- SITE INCLUDES INDUSTRIAL, OFFICE AND RETAIL USES
- OPPORTUNITY FOR DEVELOPER TO RECEIVE INCOME WHILE PREPARING TO REDEVELOP THE ALMOST 2 ACRE SITE FOR HIGHEST AND BEST USE
- LIQUOR LICENSE/BUSINNESS AVAILABLE SEPARATELY (SEE LINK)
Executive Summary
USER/DEVELOPER opportunity: Five building portfolio in Morris Twp. NJ (Morris County) providing immediate income plus
the opportunity to lease up /utilize three spaces. Owner retiring after many years at site. Existing tenants include Builder, Car
detailer, Book Seller, Yard maintenance. Vacant Spaces include two office spaces (total space = 2500sf) and a Restaurant/Lounge/Club with outdoor beer garden. Tenants are responsible for all utilities and maintenance of their buildings. Site has access to 118 additional parking spaces (by right) after 6pm.
Perfect for end user and as investment property. Five (5) freestanding masonry buildings totaling 22,230 sq ft. of rentable space plus two (2) Garages & Parking. 2.0 acres which includes parking. Original buildings built in early 70's. Renovations and newer construction in Mid 90's and 2017. Excellent location adjacent to exit 35, route 287. Minutes to Routes 80, 46, 10 and 24/78. Walking distance to train and Morristown Center. Priced to sell. Additional 1.7 acre adjacent parking available separately. Operating Bar/Liquor Licensed Restaurant (11000 plus sq ft) also for sale separately. PERFECT FOR A BREWERY.
the opportunity to lease up /utilize three spaces. Owner retiring after many years at site. Existing tenants include Builder, Car
detailer, Book Seller, Yard maintenance. Vacant Spaces include two office spaces (total space = 2500sf) and a Restaurant/Lounge/Club with outdoor beer garden. Tenants are responsible for all utilities and maintenance of their buildings. Site has access to 118 additional parking spaces (by right) after 6pm.
Perfect for end user and as investment property. Five (5) freestanding masonry buildings totaling 22,230 sq ft. of rentable space plus two (2) Garages & Parking. 2.0 acres which includes parking. Original buildings built in early 70's. Renovations and newer construction in Mid 90's and 2017. Excellent location adjacent to exit 35, route 287. Minutes to Routes 80, 46, 10 and 24/78. Walking distance to train and Morristown Center. Priced to sell. Additional 1.7 acre adjacent parking available separately. Operating Bar/Liquor Licensed Restaurant (11000 plus sq ft) also for sale separately. PERFECT FOR A BREWERY.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£371,412
|
£16.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£18,571
|
£0.84
|
| Effective Gross Income |
£352,841
|
£15.87
|
| Taxes |
£31,055
|
£1.40
|
| Operating Expenses |
£30,208
|
£1.36
|
| Total Expenses |
£61,263
|
£2.76
|
| Net Operating Income |
£291,578
|
£13.12
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | £371,412 |
| Annual Per SF | £16.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £18,571 |
| Annual Per SF | £0.84 |
| Effective Gross Income | |
|---|---|
| Annual | £352,841 |
| Annual Per SF | £15.87 |
| Taxes | |
|---|---|
| Annual | £31,055 |
| Annual Per SF | £1.40 |
| Operating Expenses | |
|---|---|
| Annual | £30,208 |
| Annual Per SF | £1.36 |
| Total Expenses | |
|---|---|
| Annual | £61,263 |
| Annual Per SF | £2.76 |
| Net Operating Income | |
|---|---|
| Annual | £291,578 |
| Annual Per SF | £13.12 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Portfolio Sale
Property Type
Building Size
22,230 SF
Building Class
C
Year Built
1990
NOI
£283,614
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
1 SF
Building FAR
0.11
Land Acres
4.85 AC
Zoning
I-21 - Commercial, Office, Flex, Industrial, Retail
Amenities
- 24 Hour Access
- Restaurant
- Signage
- Kitchen
- Storage Space
- Basement
- Central Heating
- High Ceilings
- Natural Light
- Recessed Lighting
- Suspended Ceilings
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 22-10102-0000-00002 | Total Assessment | £1,550,385 (2024) |
| Land Assessment | £721,935 (2024) | Annual Taxes | £31,055 (£1.40/sf) |
| Improvements Assessment | £828,450 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
22-10102-0000-00002
Land Assessment
£721,935 (2024)
Improvements Assessment
£828,450 (2024)
Total Assessment
£1,550,385 (2024)
Annual Taxes
£31,055 (£1.40/sf)
Tax Year
2025
-
Charles Collins -
Brian Kaplan -
Marcus & Millichap
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5 Buildings. Industrial. John Street Assoc. | 4 John St
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