29 Elm Street, Morristown Town, NJ 07960 | MLS 23022314 | Listing Information | Berkshire Hathaway HomeServices Fox & Roach, REALTORS | Berkshire Hathaway HomeServices Fox & Roach, REALTORS
SOLD
$2,845,000  
Date 05/10/2024

29 Elm Street
Morristown Town, NJ 07960

Office
Commercial
N/A
Acre Lot
Courtesy: R New Jersey LLC
The subject property is a 6,300 sq. ft mixed use property consisting of one 1-bedroom apartment and two office units. The property is in excellent condition, has an elevator and sits on a .45-acre parcel with a total of 19 parking spaces. The office tenants include a dental practice and a 300 SF vacant office space. The dental practice is on a ten-year NNN lease and has six and half years of the term remaining. Mondovi Dental, the 1st & 2nd floor tenant, was just purchased in late 2019 by Smile Brands. The Smile Brands company is one of the largest Dental Services Organizations in the country, representing 650 of offices and over 8,000 employees, including 2,200 dentists and hygienists operating in 30 states. The tenant is responsible for 95% of all NNN expenses. There is a 1BR apt is rents for $2.520 per month on a one year lease and the current tenant has renewed twice already. Current NOI is $184,057
23022314
Office, Other
MORRIS
Interior Features
Heating
Gas Heat, Electric Heating. Baseboard, Hot Water.
Financial Considerations
Corporate
Bank Owned (REO)
142404501 00016
$14,020
Courtesy: R New Jersey LLC
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All information deemed reliable but not guaranteed. Last date updated: 5/22/2024.
Source: New Jersey Multiple Listing Service, Inc.

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