Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    33 Overlook Rd Ste, Unit 104 Summit, NJ 07901-3561

    • Commercial real estate
    • 837 SF
    • 1.97 lot acres
    OFF-MARKET
    Last Sale
    May 15, 2023
    $295,659
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0791368
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 33 Overlook Rd Ste

    Year built
    1993
    Lot size
    1.97 lot acres
    Property size
    837 SF
    Zone code
    PI
    Property type
    Commercial real estate
    APN
    18 03307-0000-00001- 204
    APU
    1803307000000001204

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Union
    State
    New Jersey
    Longitude
    -74.353
    Latitude
    40.7129
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $4,874
    $18,000
    $95,800
    $113,800
    -
    $18,000
    $95,800
    $113,800

    Comparable in this City

    • Value Estimation by Request
      15,000 SF

      33 Union Pl

      Office Properties & Spaces • 15,000 SF
      33 Union Pl, Summit, NJ 07901
      View Details
    • Value Estimation by Request

      Summit, NJ 07901

      COMMERCIAL (GENERAL)
      Summit, NJ 07901
      View Details
    • Value Estimation by Request
      0.40 Acres

      29 Deforest Ave

      COMMERCIAL (GENERAL) • 0.40 Acres
      29 Deforest Ave, Summit, NJ 07901-2155
      View Details
    • Value Estimation
      $585,000
      9.64 Acres

      250 Hobart Ave

      COMMERCIAL (GENERAL) • 9.64 Acres
      250 Hobart Ave, Summit, NJ 07901-2912
      View Details
    • Value Estimation
      $635,000
      1.97 Acres

      11 Overlook Rd

      COMMERCIAL (GENERAL) • 1.97 Acres
      11 Overlook Rd, Summit, NJ 07901-3577
      View Details
    • Value Estimation by Request
      1.34 Acres

      1 Prospect St

      COMMERCIAL (GENERAL) • 1.34 Acres
      1 Prospect St, Summit, NJ 07901-2521
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,765 SF

      Downtown Commercial Redevelopment Opportunity

      Four buildings totaling 12,765 SF on approximately 1 acre.
      20 Franklin Pl, Summit, NJ 07901
      View Details
    • $299,000

      Summit Multifamily Investment Opportunity

      Multifamily property for sale in Summit, New Jersey.
      16 Beauvoir Ave, Summit, NJ 07901
      View Details
    • $1,775,000
      Pending

      Four-Unit Multifamily Home in Summit

      Sun-filled, well-maintained four-unit multifamily home in the heart of Summit.
      23 Euclid Ave, Summit, NJ 07901
      View Details
    • $889,000

      Summit Two-Family Investment Opportunity

      Spacious two-family property near downtown Summit with strong rental history.
      475 Morris Ave, Summit, NJ 07901
      View Details
    • Contact for pricing
      5,924 SF

      Summit Office Building For Sale

      Office building with 5,924 square feet available for sale.
      47 River Rd, Summit, NJ 07901
      View Details

    Similar Nearby for Lease

    • $2,950 /Mo

      Office Suite Near NY Train

      Second-floor office suite with flexible layout and convenient location.
      18 Bank St, Summit, NJ 07901
      View Details
    • $4,285 /Mo

      Morris Ave Multifamily Rental

      Multifamily property for rent at 545 Morris Ave.
      545 Morris Ave, Summit, NJ 07901
      View Details
    • $4,800 /Mo
      3,900 SF

      Summit City Commercial Space Available

      Retail or office space for rent in Summit City.
      458 Springfield Ave, Summit, NJ 07901
      View Details
    • Contact for pricing
      15,000 SF

      Prime Summit Office Space

      Executive Suites, 2,500 SF Available
      33 Union Pl, Summit, NJ 07901
      View Details
    • Contact for pricing
      20,000 SF

      Prime Summit Executive Office Space

      NJ Office Suites - 1,257 to 2,200 SF
      12 Bank St, Summit, NJ 07901
      View Details
    • $23 SF/Yr
      3,336 SF

      Summit Office Space For Rent

      Conveniently located office building with easy highway access.
      60 Morris Tpke, Summit, NJ 07901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    33 Overlook Rd Ste, Unit 104
    Summit, NJ 07901-3561
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.