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    18 Morris Tpke Summit, NJ 07901

    For Lease
    Contact for pricing

    800 SF Freestanding Retail, High Visibility

    Lot size:
    800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional 800-square-foot freestanding retail space presents a unique opportunity for a single-tenant business in the vibrant Summit, New Jersey market. Located at 18 Morris Turnpike, this property boasts a prime location with high visibility and excellent accessibility. The building is currently vacant and ready for immediate occupancy, offering a blank canvas for your business vision. The 0.1-acre lot provides ample space for customer parking, with four spaces conveniently available. The property's classification as a proposed pad site and redevelopment opportunity suggests potential for future expansion or customization to meet specific business needs. Situated in Union County, this location benefits from a strong local economy and a dense population base, ensuring high foot traffic and potential customer reach. The single-tenant occupancy ensures complete control and flexibility for the lessee. This is an ideal space for a variety of retail businesses seeking a high-profile location in a thriving community. The address is 18 Morris Turnpike, Summit, NJ 07901. This property offers a rare combination of size, location, and potential, making it an exceptional investment opportunity for discerning businesses. The property is easily accessible from major roadways, ensuring convenient access for both customers and employees. Don't miss this chance to establish your business in a highly desirable location.

    Property Features for 18 Morris Tpke

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    800 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    800 SF

    HighLights

    • 800 SF freestanding retail space in Summit, NJ, ready for immediate occupancy.
    • Prime location on Morris Turnpike, near Route 24 Exit 9A, offering high visibility and accessibility.
    • 0.1‑acre lot with 4 parking spaces.
    • Proposed pad site with redevelopment potential.
    • Located in a wealthy Summit, NJ market (Top 50 wealthiest suburbs in America, 2024 GO Banking Rates).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    M AND A BP Gas Station M & A Repair LLC Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Union
    State
    New Jersey
    Longitude
    -74.3339225
    Latitude
    40.7208932

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    FAQs

    What type of property is this?
    Individual retail property - 800 SF Freestanding Retail, High Visibility
    Where is this individual retail property located?
    The property is located at 18 Morris Tpke Summit, NJ.
    What are key features of this property?
    This property features: 800 SF freestanding retail space in Summit, NJ, ready for immediate occupancy.; Prime location on Morris Turnpike, near Route 24 Exit 9A, offering high visibility and accessibility.; 0.1-acre lot with 4 parking spaces.
    Request Owner's contact information
    18 Morris Tpke 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
    18 Morris Tpke Summit, NJ 07901
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