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    Downtown Commercial Redevelopment Opportunity
    Updated: May 15, 2024
    Downtown Commercial Redevelopment Opportunity

    20 Franklin Pl, Summit, NJ

    Contact for pricing
    12,765 sqft 0.94 AC lot
    Rare opportunity for heavy commercial use in a downtown area.
    Property consists of 4 buildings (3 occupied) totaling ±12,765 SF.
    Zoned R5, allowing single‑family use and existing commercial uses to remain (CO'd).
    Site offers a unique redevelopment opportunity (subject to local approval).
    Lot size at ±1 acre.
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    Realmo Analytics Monitor Off-market properties and contact owners who are ready to sell. Many signals applied to make quality leads for you. Get Leads
    Based on your search, we've compiled 6 Potential Opportunities for your consideration. Besides 1 Active listings in Summit, NJ, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 1 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    6,000 SF Commercial Building
    6,000 SF Commercial Building

    1415 Stuyvesant Ave, Union, NJ 07083

    $1,495,000
    6,000 sqft 0.41 AC lot

    6,000 SF commercial building with parking on approximately 0.5 acres.

    View details
    Signalized Commercial Land
    Signalized Commercial Land

    1359 Springfield Ave, Irvington, NJ 07111

    $1,250,000

    Vacant corner property with an existing automotive facility and several access points along Springfield Avenue.

    View details
    Auto Shop with Overhead Door
    Auto Shop with Overhead Door

    960 Koehl Ave, Union, NJ 07083

    Contact for pricing

    The property includes an office, bathroom, multiple entry doors, and a wide driveway.

    View details
    Turnkey Auto Repair Business For Sale
    Turnkey Auto Repair Business For Sale

    59-61 Western, Irvington, NJ 07111

    $750,000

    Auto and tire repair business with property in Irvington, NJ.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Industrial Lot in Redevelopment Zone
    Industrial Lot in Redevelopment Zone

    415 Bergen Ave, Kearny, NJ 07032

    Contact for pricing
    0.75 AC lot

    Approximately 0.75-acre industrial lot in a redevelopment zone.

    View details

    Summit, NJ Auto Shops Market Trends and Statistics

    Explore 1 auto shops for sale in Summit, NJ on our real estate platform. These investment opportunities span a total of 12,765 square feet of properties for sale.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Auto shops 1

    Demographics Overview

    Population 25K
    Population Growth (5Y) +5.0%
    Median Household Income $177,986
    College Educated 54.3%

    Taxes & Financing

    Tax Rate (average for all types) 4.36%
    Property Tax per SF $36.37 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Union County

    New Delisted

    Total CRE Inventory on Market (SF)

    How Realmo verifies these figures

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