May 15, 2025 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of a mixed-use building in Morristown, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $3,450,000.
The mixed-use building is located at 22 N Park Place in Morristown, New Jersey. The Property is improved by a 7,495 square foot three-story professional building on 0.10-acres of land (4,369 square feet). The building was owner-occupied by a law firm on the second and third floors until the close of escrow and was delivered vacant. 22 N Park Place offers the opportunity to reposition the Property utilizing the existing building, or to redevelop the Property taking advantage of the outstanding location and its frontage, visibility, and pedestrian and vehicular traffic counts along the Morristown Green. The Property is zoned TC – Town Center District, one of the most versatile zoning designations in the city of Morristown. The Property is well located along N Park Place, adjacent to the intersection with Washington Street, Bank Street and W Park Place. Positioned along the Morristown Green in the center of town and offers outstanding access to public transportation and area highways. The location is surrounded by densely developed residential neighborhoods that provide a strong consumer and employee base, as well as national retailers restaurants, office complexes, and municipal buildings that drive traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of apartments buildings, mixed-use properties, and development projects. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.