52-58 Ford Ave - Ford and Franklin Portfolio Sale 1.27 Acres of Residential Land in Morristown, NJ 07960
INVESTMENT HIGHLIGHTS
- Rare opportunity for Morristown Development
- Historic carriage house on property
- .6 miles to Morristown Performing Arts Center
- Less than a 1 minute walk to Morristown Memorial Hospital (.3 miles)
- .5 miles to Morristown Train Station (NJ Trannsit)
EXECUTIVE SUMMARY
This is a development site. with the highest and best use purported to be multi family residential
This property will ONLY be sold as part of portfolio that includes Lot 3, (76 Franklin St) and Lot 4, (74 Franklin Street) and Lot 5 (52-58 Ford Ave.)
Total acreage for all 3 lots: +/- 2 acres
Zoning is currently R-3
Property is located .3 miles from Morristown Memorial Hospital
Purchaser would need to apply and go through the municipal process to obtain approvals for site development of anything other than permitted uses in the zone.
This property will ONLY be sold as part of portfolio that includes Lot 3, (76 Franklin St) and Lot 4, (74 Franklin Street) and Lot 5 (52-58 Ford Ave.)
Total acreage for all 3 lots: +/- 2 acres
Zoning is currently R-3
Property is located .3 miles from Morristown Memorial Hospital
Purchaser would need to apply and go through the municipal process to obtain approvals for site development of anything other than permitted uses in the zone.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Sale Type | Investment or Owner User |
| Sale Condition | Bulk/Portfolio Sale |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 1.27 AC |
| Cross Streets | Franklin Street |
| Zoning | R-3 - As per Morris County tax records, this property and the adjacent lots are in the R-3 zone (single family residential). |
1 LOT AVAILABLE
Lot 5
| Lot Size | 1.27 AC |
Lot is on the corner of Ford Ave. and Franklin Street. This is a development site. This property will be sold as part of portfolio that includes Lot 3, (76 Franklin St), Lot 4, (74 Franklin Street)and Lot 5 (52-58 Ford Ave.)
DESCRIPTION
Property is part of a 3 parcel portfolio sale comprising a total of +/- 2 acres of land. The property is .3 miles to the Franklin Street entrance to Morristown Memorial Hospital. Highest and best use for the property is a multi family development.
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PROPERTY TAXES
| Parcel Number | 24-04401-0000-00005 | Improvements Assessment | $225,890 CAD |
| Land Assessment | $617,322 CAD | Total Assessment | $843,212 CAD |
