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Property profile & analytics
OFF-MARKET Estimated value $620,000
Banks

48 Deforest Ave 50 Summit, NJ 07901-1920

4,428 SF 0.33 ac lot
Entity Owned 20-yr Hold Absentee Owner Free & Clear
Property ID
US59-0636422
Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Total area 4,428 SF
Lot 0.33 ac (14,331 SF)
Zoning code B
APN 18 01911-0000-00007- 01
UPID US59-0636422
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
  • Peapack-Gladstone Bank - Summit, NJ Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$465k
CAP Approach CAP
by Request
Comparable Approach Comparable
$779k
Blend (final) Blend
$620k
Owner & transaction history
Peapack-gladstone Bank · 20 yrs held
Peapack-gladstone Bank
since 2006
2 recorded transactions
2006
$1
2006
$1.5M
Zoning & alternative use
B · Summit, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

B Business Zone. A. Purpose. The B Zone is intended for the conduct of general business to which the public requires direct and frequent access as prime customers, clients, or patients. B. Permitted uses. 1. Principal uses. a. Retail sales, except that drive-through facilities are prohibited. b. Offices. c. Restaurants and other eating establishments, except…

Zone name Business
General category COMMERCIAL
Zone area 72.52 ac
Top alternative use upside
Commercial (general) $670,000 +15.7%
Office building $655,000 +13.8%
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