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Marcus & Millichap brokers sale of mixed-use property in Morristown for $2.8M

Source: ROI-NJ · Aug 3, 2026, 7:10 AM

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Marcus & Millichap brokers sale of mixed-use property in Morristown for $2.8M news image

Commercial real estate brokerage Marcus & Millichap announced the sale of a mixed-use property at 46 S. Park Place in Morristown for $2,847,604.

The three-story building, originally constructed in 1955 and recently renovated in 2025, spans 5,180 square feet and combines residential and retail uses.

The property includes three residential apartments and a ground-floor retail unit occupied by a food establishment. The transaction reflects continued commercial real estate activity in Morristown's downtown area and demonstrates investor interest in renovated mixed-use assets in New Jersey's Essex County.

Key points

  • Mixed-use property at 46 S. Park Place in Morristown sold for $2,847,604
  • Building is three stories with 5,180 square feet, originally built in 1955 and renovated in 2025
  • Property contains three apartments and ground-floor retail space currently leased to a restaurant tenant
  • Marcus & Millichap facilitated the commercial real estate transaction

FAQ

What type of property was sold in Morristown?
A mixed-use property at 46 S. Park Place that combines residential and retail uses. The three-story building contains three apartments and a ground-floor retail unit occupied by a food business.
When was the Morristown building renovated?
The building, originally constructed in 1955, was renovated in 2025 prior to its sale for $2,847,604.
Who brokered the sale?
Marcus & Millichap, a commercial real estate brokerage firm, announced and brokered the sale of the mixed-use property.

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