Commercial Real Estate Market in Summit, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
23 active listings and 353 off-market properties in Summit, NJ. Commercial property asks $438/SF to buy and $28.17/SF/Yr to lease.
Market Trends
Summit, NJ spans 6.3 square miles in Union County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Summit, NJ asks $283/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Summit, NJ asks $403/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Summit, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Summit, NJ asks $288/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 84.5%
- Commercial 5.7%
- Mixed use 0.8%
- Civic 0.7%
Largest Zones share of zoned land by district
Single Family Residential
Single Family Residential
Single Family Residential
Single Family Residential
Single Family Residential
Summit, NJ zones 3,892 acres across 32 districts. Commercial zoning covers 5.7% of zoned land, residential 84.5%. The largest single district is Single Family Residential at 25.7%. For commercial buyers the practical constraint is that only 5.7% of land carries a commercial or industrial designation.
Single Family Residential (R-15)
R-15 Zone. 3. The required contribution shall be payable on a pro rata basis (applicable to all approved lots) prior to the issuance of individual certificates of occupancy. § 35-13.10 CRBD Central Retail Business District Zone. A. Purpose. The CRBD Zone constitutes the bulk of the City's central downtown area immediately north of the Summit train station. T…
Market overview
Demographics & Economy
Summit, NJ has 24,199 residents in 9,477 households. Density runs 3,821 people per square mile. Median household income here is $177,986 and median gross rent $2,209 a month.
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
3,821
Density / Sq Mi
$177,986
Median Household Income
$87,088
Median Earnings
$2,209
Median Rent
$958,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Chatham | — | — |
| New Providence | — | — |
| Springfield | — | $20.93 |
| Chatham Township | — | — |
Commercial property in Summit, NJ asks $438/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Summit?
Commercial property in Summit, NJ asks an average of $438 per square foot. The 7 most recent recorded sales traded at a median of $375/SF, so asking sits 17% above the achieved median. Retail carries the highest asking price at $403/SF.
How much does it cost to lease commercial space in Summit?
Asking lease rates in Summit, NJ average $28.17 per square foot per year.
What zoning applies to commercial property in Summit?
Summit, NJ zones 3,892 acres across 32 districts, of which 5.7% is commercial and 0% industrial. The largest single district is Single Family Residential at 25.7% of zoned land. R-15 Zone. 3. The required contribution shall be payable on a pro rata basis (applicable to all approved lots) prior to the issuance of individual certificates of occupancy. § 35-13.10 CRBD Central Retail Business District Zone. A. Purpose. The CRBD Zone constitutes the bulk of the City's central downtown area immediately north of the Summit train station. T… Residential zoning covers 84.5% and open space 0%.
Where does Realmo's Summit market data come from?
Realmo compiles Summit, NJ figures from 8 recent recorded sales, 9 active sale listings, 14 active lease listings, 353 tracked off-market properties, the current Summit zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 14 active for-lease listings in Summit, NJ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 3,892 zoned acres across 32 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
