90-110 Speedwell Ave (Redevelopment) FOR SALE


Morristown, NJ - Downtown Morristown
$7,500,000 USD
973-432-9014
, Morristown, NJ for Sale
$7,500,000 USD
FOR SALE
1/20
null | 1.67% Cap Rate

90-110 Speedwell Ave (Redevelopment)
Morristown, NJ
Downtown Morristown


HIGHLIGHTS

  • Gateway prominence as traffic approaches Morristown South along rout 202.

OVERVIEW

An assemblage of 7 existing mixed-use properties and vacant lots located on .75 acres at the corner of Speedwell Ave and Clinton Pl. located within the Speedwell Redevelopment Area with underlying zoning TC "Town Center" which allows a wide array of mixed-uses The property is the remaining undeveloped property between Headquarter Plaza and the Modera apartment complex. The subject property has gateway prominence as traffic approaches Morristown South along Route 202. Great for potential mixed use development, hotel etc... 90-96 Speedwell Ave - 2 stories, 8,000 +/- SF (4,000 Rertail 1st and 4,000 2nd fl) - Vacant 98-102 Speedwell Ave - 2 stories, 5,000 +/- SF (2,500 retail 1st Fl and 3 - 1BR apt 2nd Fl)fully lease with termination clauses 104 Speedwell Ave - 2 stories 3,000 +/- SF (1,500 retail 1st and 2 - 1BR apt 2nd Fl) Fully leased with termination clauses 15 Clinton Pl = 4 story 4,000 +/1 SF (4 apartments) Fully lease with termination clauses Plus 3 additional vacant lots. Approx. 260 Feet of frontage on Clinton Pl and approx. 200 Feet of frontage down Speedwell Ave; Lot depths range from 75' to 80' Current net cash is approximately $125,000, which does not include any income from 90-96 Speedwell Ave (8,000 SF bldg) which is completely vacant at this moment. There are no approvals in place.

ASK ABOUT THIS PROPERTY

Jay GrahamGraham Realty Group, LLCMore Info
973-432-9014

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Jay GrahamGraham Realty Group, LLCMore Info
973-432-9014

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.