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90-110 Speedwell Ave (Redevelopment) 7 Properties Offered at $10,469,400 CAD in Morristown, NJ
INVESTMENT HIGHLIGHTS
- Gateway prominence as traffic approaches Morristown South along rout 202.
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Price | $10,469,400 CAD | Status | Active |
| Price / SF | $484.18 CAD / SF | Number of Properties | 7 |
| Sale Condition | Redevelopment Project | Individually For Sale | 0 |
| Cap Rate | 1.67% | Total Building Size | 21,623 SF |
| Sale Type | Investment | Total Land Area | 0.76 AC |
| Price | $10,469,400 CAD |
| Price / SF | $484.18 CAD / SF |
| Sale Condition | Redevelopment Project |
| Cap Rate | 1.67% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 7 |
| Individually For Sale | 0 |
| Total Building Size | 21,623 SF |
| Total Land Area | 0.76 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Vacant Lot 2
17 Clinton Pl, Morristown, NJ 07960 |
Land | 0.15 AC | - | - |
| 11 Clinton Pl, Morristown, NJ 07960 | Land | 0.14 AC | - | - |
|
Vacant Lot 3
108 Speedwell Ave, Morristown, NJ 07960 |
Land | 0.07 AC | - | - |
| 15 Clinton Pl, Morristown, NJ 07960 | Multifamily | 5,404 SF | 1900 | - |
| 96 Speedwell Ave, Morristown, NJ 07960 | Retail | 8,000 SF | 1935 | - |
| 98 Speedwell Ave, Morristown, NJ 07960 | Retail | 5,218 SF | 1900 | - |
| 104 Speedwell Ave, Morristown, NJ 07960 | Retail | 3,001 SF | - | - |
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90-110 Speedwell Ave (Redevelopment)
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