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Property profile & analytics
FOR SALE
Commercial real estate
545 Morris Ave, Summit, NJ 07901
Entity Owned
16-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-1587396
For Sale
1 / 8
$300,000
545 Morris Ave, Summit, NJ 07901
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
1.66 ac (72,310 SF)
Zoning code
NB
APN
18 00404-0000-00001
UPID
US59-1587396
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
-
The Little Gym of Summit Training Center
-
ATM Atm
-
Dunkin' Cafe & Coffee Shop
-
Kumon Math and Reading Center of Summit Training Center Tutoring Service
-
The Promenade at Summit Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$510k
Owner & transaction history
Dp Morris Associates LLC · 16 yrs held
Dp Morris Associates LLC
since 2010
5 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
by Request
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
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
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$164,725
Tax year 2023
Assessed value
$3,806,900
Assessed 2024
Previous assessed
$3,806,900
+0.0% YoY
Effective rate
4.33%
On assessed value
Assessed land
$1,759,500
Assessed improvement
$2,047,400
Land market value
$1,759,500
Improvement market value
$2,047,400
Total market value
$3,806,900
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
For Sale
Heating
NONE
Lot
1.66 ac (72,310 SF)
Zoning code
NB
APN
18 00404-0000-00001
UPID
US59-1587396
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
Heating
NONE
Lot
1.66 ac
Current owner
From public records · entity-resolved
Dp Morris Associates LLC
Entity
Free & Clear · 16 yrs held
Mailing address
350 MAIN RD STE #201, MONTVILLE, NJ 07045-9219
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2022
—
Dp Morris Associates LLC
—
Deed
related
$12,650,000 · Kearny Bank
May 24, 2010
—
Dp Morris Associates LLC
Summit Affordable Housing Corp
Grant Deed
related
—
Jan 22, 2010
—
Dp Morris Associates LLC
Summit Affordable Housing Corp
Grant Deed
related
—
Jun 30, 2005
$4,100,000
Dp Morris Associates LLC
Summit Property Co LLC
Grant Deed
$2,250,000 · Academy Street Associates LP
—
—
Dp Morris Associates LLC
—
Loan Modification
related
$12,480,000 · Provident Bank INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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