Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    26 Summit Ave North Plainfield, NJ 07060

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-family property with separate utilities, strong rental history, updated features.

    Lot size:
    0.09 Acres

    Property Features for 26 Summit Ave

    General Information

    Property type
    Multi Family
    Standard status
    Active
    Lot size
    0.09 Acres

    Building Details

    Year built
    1924

    We can help!

    Listing Contact
    Diane Mc Murdo
    Source: Elliman

    Listing Agent: Diane Mc Murdo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Turnkey Multifamily Property For Sale

    This two-family property presents an opportunity for investment or owner-occupancy with income potential. The property allows for living in one unit and renting the other, or renting both units for income. Each unit has separate utilities. Updates within the last seven years include bathrooms, furnace, and central air conditioning. The roof is two years old. The property includes a large backyard and off-street parking. It has a rental history with income potential. The location is near shops, schools, and transit. This is a multi-family property.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Plainfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.4319
    Latitude
    40.62452

    Nearby Similar for Sale

    • New
      $825,000

      North Plainfield Two-Family Property

      Two-family property in North Plainfield with updated features.
      224 Westervelt Ave, North Plainfield, NJ 07060
      View Details
    • New
      $825,000
      Pending

      North Plainfield Multifamily Property

      Multifamily property in North Plainfield, New Jersey.
      224-228 Westervelt Ave, North Plainfield, NJ 07060
      View Details
    • Contact for pricing
      8,200 SF

      North Plainfield Office Building

      8,200 SF office building with high visibility and parking.
      190 Greenbrook Rd, North Plainfield, NJ 07060
      View Details
    • $3,100,000

      Freestanding Warehouse with Fenced Yard

      12,000 SF warehouse with drive-in doors and fenced yard.
      13 Steiner Pl, North Plainfield, NJ 07060
      View Details
    • $999,999

      North Plainfield Multifamily Home

      Spacious multifamily home in excellent condition, ideal for investors.
      34 Rockview Ave, North Plainfield, NJ 07060
      View Details
    • Contact for pricing
      Pending

      Turnkey Multifamily Property For Sale

      Two-family property with income potential, updated features, and convenient location.
      26 Summit Ave, North Plainfield, NJ 07060
      View Details
    • $500,000

      North Plainfield Restaurant w/ Liquor License

      Prime NJ location, lucrative liquor license included.
      1250 Us Highway 22, North Plainfield, NJ 07060
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family property with separate utilities, strong rental history, updated features.
    Where is this duplex located?
    The property is located at 26 Summit Ave North Plainfield, NJ.
    What are key features of this property?
    This property features: - Two-family property ideal for owner-occupancy with rental income or investment.; - Separate utilities for each unit.; - Recent updates include bathrooms, furnace, and central AC (within 7 years).
    Request Owner's contact information
    26 Summit Ave North Plainfield, NJ 07060
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    26 Summit Ave
    North Plainfield, NJ 07060
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    26 Summit Ave North Plainfield, NJ 07060
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Diane Mc Murdo
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!