Realmo Analytics

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Property profile

53 Summit Ave Summit, NJ 07901

FOR SALE
Other commercial real estate
Property ID
US59-1734968
4,200 SF 0.06 ac lot Built 1892
Last sale Oct 2026 · $2,100,000
Entity Owned Owner of record is a legal entity (LLC / corporation). Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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53 Summit Ave, Summit, NJ 07901 For Sale
$2,100,000 4,200 SF
53 Summit Ave, Summit, NJ 07901
View Listing

Property summary

AI-generated overview

A corner mixed-use property in Downtown Summit with three residential units on the second floor: one one-bedroom apartment and two studio apartments. The ground floor is configured for commercial use, and the lower level provides flexible space with separate exterior access. A private resident entrance from Franklin Place serves the apartments. The property is zoned CBD and is located along Franklin Place near the Summit Parking Garage and the NJ Transit rail station (with direct service to New…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$19k
Tax billed · 2023
Assessed value · 2024$425k
Assessed land$131k
Assessed improvement$294k
Effective rate4.52%

Value estimate

· Nov 2026
$400k
$360k – $440k
CAP approach$855k
Submarket $/SF estimate$575k
NOI build-up
Gross scheduled income$113k
Vacancy & credit loss−$14k
Operating expenses−$35k
NOI · 3.09% cap applied$65k

Realmo valuation models over county records and 32 qualifying comparable sales.

Recently sold

What actually traded nearby?
$383/SF
ZIP average, outlier-cleaned · 38 recorded sales of this use type
Observed band · Q1–Q3$313 – $463
Qualifying comparables32

Cap rate analysis

How does the asset earn?
3.09%
$65k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
CRBD
CRBD, complement and protect the adjacent residential neighborhoods, provide housing, including affordable housing, in proximity to publi...
General categoryMIXED_USE
JurisdictionUNION

Location intelligence

Which uses thrive at this corner?
Best fit: Convenience Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Convenience Store12.4
Smoke and Vape Shop12.3
Wholesale Shop11.7

Location

53 Summit Ave Summit, NJ 07901
County assessor Recorded deeds · 2 transfers 32 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
97-99 Smt, Summit, NJ 07901-3614 $923,000 Feb 2026 5,300 SF
344-346 Springfield, Summit, NJ 07901-4602 $1,485,000 Oct 2024 3,700 SF
355 Springfield, Summit, NJ 07901-4615 $1,275,000 Oct 2024 3,184 SF
96-98 Smt, Summit, NJ 07901 $1,195,000 Jul 2024 4,264 SF
198 Broad, Summit, NJ 07901-3977 $990,000 Oct 2023 2,856 SF
490 Morris, Summit, NJ 07901-7500 $1,700,000 Jun 2023 5,041 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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