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2 Perry St 3,010 SF 100% Leased Office Building Morristown, NJ 07960 $2,039,188 CAD ($677.47 CAD/SF) 7.13% Cap Rate
INVESTMENT HIGHLIGHTS
- Street frontage on Maple Ave as well as Perry St; Excellent condition
EXECUTIVE SUMMARY
Discover the charm of this completely rebuilt and restored 1870's historic semi-attached building with prime Maple Avenue frontage. Currently fully occupied and configured with three separate rental units. The top two floors are a 3-bedroom, two full bath residence ($4010 rent). The main floor is currently professional space ($2750 rent). The ground floor is a one-bedroom residence (occupied but will be delivered vacant). Both residential spaces have in-unit laundry. Located in a historic neighborhood, this property is close to the train, buses, library, Morristown Green, and nightlife. Professionally landscaped with a gracious front porch and multiple decks, this property offers a blend of historic elegance and modern amenities. Renovated from 2005 to 2024, this property seamlessly combines historic character with modern conveniences. Don't miss the opportunity to own this exceptional home!
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Office/Residential
Building Size
3,010 SF
Building Class
C
Year Built/Renovated
1850/2015
Price
$2,039,188 CAD
Price Per SF
$677.47 CAD
Cap Rate
7.13%
NOI
$145,328 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,040 SF
Building FAR
0.58
Lot Size
0.12 AC
Zoning
ORC - Office/ Residential Character
Parking
3 Spaces (1 Spaces per 1,000 SF Leased)
AMENITIES
- Controlled Access
- Air Conditioning
- Balcony
- Fiber Optic Internet
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 24-06205-0000-00008 | Total Assessment | $868,329 CAD (2025) |
| Land Assessment | $451,520 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $416,809 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
24-06205-0000-00008
Land Assessment
$451,520 CAD (2025)
Improvements Assessment
$416,809 CAD (2025)
Total Assessment
$868,329 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Presented by
Sarah Schultz
2 Perry St
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