About This Restaurant
Investment Highlights
Multiple Units Room to monetize parking. Yearly rental increases
Executive Summary
Investment Opportunity. 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. Fully Leased. Always Leased. 2.0 acres which includes parking. Separate Lot Avail. for purchase which is leased during weekdays. Rare & Desirable Industrial Site with existing retail. Original bldgs 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. Call Owner Now to make appointment to view. Will participate with Brokers. Tony 862-222-4223/ Neal 862-222-4225
Property Details
- Sale Type Investment or Owner User
- Sale Condition Bulk/Portfolio Sale
- Property Type Office Office General Retail Auto Repair General Retail Restaurant Industrial Manufacturing Office
- Building Size 22,230
- Building Class C
- Year Built 1990
- Price 5,595,000
- Price Per SF 252
- Cap Rate 6.42
- NOI 359,000
- Percent Leased 100
- Tenancy Multiple
- Building Height 1 Story
- Typical Floor Size 1
- Building FAR 0.11
- Land Acres 4.85 AC
Amenities
- 24 Hour Access
- Restaurant
- Signage
- Kitchen
- Storage Space
- Basement
- Central Heating
- High Ceilings
- Natural Light
- Recessed Lighting
- Drop Ceiling
- Air Conditioning
Property Taxes
| Parcel Number | 22-10102-0000-00002 | Improvements Assessment | $915,000 |
| Land Assessment | $1,050,000 | Total Assessment | $1,965,000 |
| Date Created: | 2024-07-16 04:16:26 | Last Updated: | 2024-07-16 04:16:26 |
| Address: | 4 John St , Morristown, New Jersey, 07960 | ||