Corner Mixed-Use
For Sale
$2,100,000
53 Summit Ave, Summit, NJ 07901
Corner property with ground-floor commercial space and three upstairs residences plus flexible lower-level space with direct exterior access.
Days on Market51
Property Features for 53 Summit Ave
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Multifamily Units
3
Building Details
Year Built
9999
Listing Agency:
KELLER WILLIAMS REALTY
(908) 233-8502
Listed By:
BARBARA LEWIS
Source:
Elliman
Added: Jun 10
Changed: Jul 10
Last Checked: Jul 30 at 9:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
This corner mixed-use property combines commercial and residential components with a lower level designed for flexible use. The ground floor includes commercial space, while the second level provides three residential apartments: one one-bedroom unit and two studio apartments. A dedicated private entrance is provided for residential tenants from Franklin Place. The lower level offers expansive flexible space with direct exterior access, which can support storage, operations, creative workspace, or supplemental uses depending on the tenant or buyer’s plan.
Located in the heart of Downtown Summit at 53 Summit Ave, the property is positioned within a walkable commuter setting. It is described as being just steps from the Summit Parking Garage and the NJ Transit train station, which offers direct service to New York City. Surrounding amenities include boutique shopping and dining, along with everyday conveniences that serve both residents and commuters.
The configuration can fit a range of ownership and operating approaches, including investors seeking mixed-use income, an owner-user looking for a downtown presence with residential support, or a developer considering adaptability for ground-floor commerce and a lower-level space plan. Residential access is separated from the commercial entry experience, and the direct exterior access to the lower level supports practical, operational flexibility.
Located in the heart of Downtown Summit at 53 Summit Ave, the property is positioned within a walkable commuter setting. It is described as being just steps from the Summit Parking Garage and the NJ Transit train station, which offers direct service to New York City. Surrounding amenities include boutique shopping and dining, along with everyday conveniences that serve both residents and commuters.
The configuration can fit a range of ownership and operating approaches, including investors seeking mixed-use income, an owner-user looking for a downtown presence with residential support, or a developer considering adaptability for ground-floor commerce and a lower-level space plan. Residential access is separated from the commercial entry experience, and the direct exterior access to the lower level supports practical, operational flexibility.
Key Highlights
- Corner mixed‑use building in Downtown Summit with ground‑floor commercial space
- Three residential apartments on the second level: one 1‑bedroom and two studio apartments
- Lower level offers expansive flexible space with direct exterior access
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 07901, NJ
24,199
Population
9,477
Households
2.6
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
3,841
Density / Sq Mi
$177,986
Median Household Income
$87,088
Median Earnings
$2,209
Median Rent
$958,700
Median Home Value
Market
Properties on Market for Mixed-use properties in Union County
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property with ground-floor commercial space and three upstairs residences plus flexible lower-level space with direct exterior access.
Where is this mixed-use property located?
The property is located at 53 Summit Ave Summit, NJ.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Corner mixed‑use building in Downtown Summit with ground‑floor commercial space; Three residential apartments on the second level: one 1‑bedroom and two studio apartments; Lower level offers expansive flexible space with direct exterior access
