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Property profile & analytics
OFF-MARKET Estimated value $6,275,000
Office buildings

475 Springfield Ave Summit, NJ 07901-2600

22,410 SF 0.17 ac lot Built 1978
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US59-1589652
Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1978
Total area 22,410 SF
Lot 0.17 ac (7,301 SF)
Zoning code CRBD
APN 18 01911-0000-00003
UPID US59-1589652
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
  • Appliance Repair Summit Ltd Home Appliance Store
  • Riley Raynard O DDS Dental Office
  • Beacon Hill Family Practice Pediatrician Physician
  • Summit Urologic Associates Physician Medical Clinic
  • Summit Urologic Associates: Gianis Jr John T MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$6.27M
CAP Approach CAP
$5.63M
Comparable Approach Comparable
$4.10M
Blend (final) Blend
$6.28M
Owner & transaction history
475 Springfield LLC · 3 yrs held
475 Springfield LLC
since 2023
Last sale
$6.3M
5 recorded transactions
2024
Price N/A
2023
$6.3M
2002
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
CRBD · Summit, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

CRBD, complement and protect the adjacent residential neighborhoods, provide housing, including affordable housing, in proximity to public transportation and serve as an attractive gateway to the downtown. B. Permitted uses. 1. Principal uses. a. Townhouses. b. Apartments. c. Condominiums. d. Offices. e. Public parks. f. Mixed-use buildings office and reside…

Zone name Central Retail Business District
General category MIXED_USE
Zone area 21.32 ac
Top alternative use upside
Commercial (general) $8.6M +88.3%
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