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    367 Springfield Ave Summit, NJ 07901

    Sponsored
    For Lease
    Contact for pricing

    Four Suites Available, 1,700-6,500 SF

    Lot size:
    16,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional retail property, located at 367 Springfield Avenue in Summit, New Jersey, offers 16,700 square feet of completely vacant space, ideal for multiple tenants. The building is comprised of four individual suites, with a minimum divisible space of 1,700 square feet and a maximum contiguous space of 6,500 square feet, providing flexibility for various business needs. Situated in Union County, this property boasts a highly visible location on Springfield Avenue, offering excellent exposure to significant foot and vehicle traffic. The address is 367 Springfield Avenue, Summit, NJ 07901. This presents a unique opportunity for businesses seeking a prominent location in a thriving community. The entire 16,700 square foot building is currently available for lease, allowing for a single large tenant or the possibility of multiple smaller businesses to occupy the individual suites. This versatile space is perfect for a variety of retail concepts, providing ample room for growth and expansion. The property's prime location and flexible space options make it an attractive investment opportunity. Contact us today to learn more about leasing this exceptional retail space.

    Property Features for 367 Springfield Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,700 SF

    Unit(s) available at that property

    Space
    Ground Floor (Divisible)
    Size
    6,500 SF
    Space
    2nd Floor
    Size
    3,000 SF
    Space
    3rd Floor
    Size
    1,700 SF
    Space
    Lower Level
    Size
    5,500 SF

    HighLights

    • High‑profile corner location at a key intersection in a prime New Jersey downtown retail market.
    • Suitable for single or multi‑tenant occupancy.
    • Three miles from The Mall at Short Hills.
    • Features 55 feet of frontage on Springfield Avenue and 120 feet on Beechwood Road.
    • Excellent access to major roadways including Route 24, the Garden State Parkway, and Interstates 78, 95, and 280.
    • Strong daytime population supported by over 2.8 million square feet of office space in Summit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mortgage, Bank of America Mortgage Lender Bank of America ATM Atm Bank of America Financial ... Bank

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Union
    State
    New Jersey
    Longitude
    -74.3577502
    Latitude
    40.7182896

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    FAQs

    What type of property is this?
    Retail property - Four Suites Available, 1,700-6,500 SF
    Where is this retail property located?
    The property is located at 367 Springfield Ave Summit, NJ.
    What are key features of this property?
    This property features: High-profile corner location at a key intersection in a prime New Jersey downtown retail market.; Suitable for single or multi-tenant occupancy.; Three miles from The Mall at Short Hills.
    Request Owner's contact information
    367 Springfield Ave Summit, NJ 07901
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    Summit, NJ 07901
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    Realmo Value Estimation

    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.

    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.

    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
    367 Springfield Ave Summit, NJ 07901
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