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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Commercial real estate
101 Springfield Ave, Summit, NJ 07901-4042
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1746634
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Construction
CONCRETE BLOCKS
Total area
3,128 SF
Lot
0.4 ac (17,498 SF)
Zoning code
NB
APN
18 03701-0000-00008
UPID
US59-1746634
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lyons Veterinary Hospital Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.32M
Owner & transaction history
101 Springfield Avenue LLC · 3 yrs held
101 Springfield Avenue LLC
since 2022
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
NB · Summit, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Summit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Summit submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,450,000
ML approach
$1,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±10% · vs last sale $1.20M (Jul 13 2022)
Last sale anchor
$1.20M
Jul 13 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$422 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$16,614
Tax year 2022
Assessed value
$387,900
Assessed 2023
Previous assessed
$387,900
+0.0% YoY
Effective rate
4.28%
On assessed value
Assessed land
$230,300
Assessed improvement
$157,600
Land market value
$230,300
Improvement market value
$157,600
Total market value
$387,900
Applied tax rate
18.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1950
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
3,128 SF
Lot
0.4 ac (17,498 SF)
Zoning code
NB
APN
18 03701-0000-00008
UPID
US59-1746634
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
NB · Summit, NJ
Zoning NB · permitted uses
NB · Summit, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Summit. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
101 Springfield Avenue LLC
Entity
Mailing address
110 LYONS PL, SPRINGFIELD, NJ 07081-1606
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2022
$1,200,000
101 Springfield Avenue LLC
Laurich LLC
Bargain And Sale Deed
$1,852,500 · Wells Fargo Bank NA
Sep 14, 2016
$900,000
Laurich LLC
Iellimo,vittoria
Grant Deed
—
Nov 16, 2010
—
Vittoria Iellimo
Iellimo Giuseppe
Quit Claim Deed
related
—
Dec 8, 2000
—
Giuseppe Iellimo
Iellimo,giuseppe
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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