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    357 Springfield Ave Summit, NJ 07901

    For Lease
    Contact for pricing

    Two Suites Available, High-Traffic Location

    Lot size:
    6,354 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional retail property, located at 357 Springfield Avenue in Summit, New Jersey, offers two available suites within a 6,354 square foot building. The space is situated on one of Summit's most desirable blocks, on the north side of Springfield Avenue, placing your business in the heart of a thriving market. Suites range from a minimum of 865 square feet to a maximum contiguous space of 2,777 square feet, providing flexibility for various business needs. Currently, 3,642 square feet are vacant, presenting a significant opportunity for expansion or multiple tenants. The property boasts convenient access to municipal parking located at the rear of the building, ensuring ample parking for customers and employees. Additional basement space is available for storage, providing valuable extra space for inventory or equipment. This prime location in Union County offers unparalleled visibility and accessibility, making it an ideal opportunity for businesses seeking a high-traffic, well-established retail environment. The property's strategic placement within the market guarantees significant foot traffic and exposure.

    Property Features for 357 Springfield Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,354 SF

    Unit(s) available at that property

    Space
    First Floor
    Size
    2,777 SF
    Space
    Basement
    Size
    865 SF

    HighLights

    • Prime Summit location, in the heart of the market.
    • Rear access to municipal parking.
    • Basement storage available.
    • Located on one of Summit's two most desirable blocks (Springfield Avenue north side).
    • 6,354 SF retail center with 3,642 SF vacant, divisible into spaces ranging from 865 SF to 2,777 SF maximum contiguous.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    DAVID SEGRO, SIGNATURE ... Real Estate Agent Yvonne Bowers, Signature ... Real Estate Agent Nicole Rossi - Realtor Real Estate Agent Jaelin Morgado Real Estate Agent Ana Bassett Real Estate Agent

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Union
    State
    New Jersey
    Longitude
    -74.3570749
    Latitude
    40.7183309

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    FAQs

    What type of property is this?
    Individual retail property - Two Suites Available, High-Traffic Location
    Where is this individual retail property located?
    The property is located at 357 Springfield Ave Summit, NJ.
    What are key features of this property?
    This property features: Prime Summit location, in the heart of the market.; Rear access to municipal parking.; Basement storage available.
    Request Owner's contact information
    357 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
    357 Springfield Ave Summit, NJ 07901
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