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Property profile & analytics
OFF-MARKET
Industrial properties
556 Morris Ave Summit, NJ 07901-1330
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-1123639
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1957
Total area
1,968 SF
Lot
88.85 ac (3,870,306 SF)
Zoning code
PROD
APN
18 00701-0000-00001
UPID
US59-1123639
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
-
Circumvent G2 Factory Production Facility
-
NAKI Therapeutics Inc. Factory Production Facility
-
BMS Summit West Corporate Office
-
Bristol Myers Squibb Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Summit West Celgene LLC · 10 yrs held
Summit West Celgene LLC
since 2015
2 recorded transactions
Zoning & alternative use
PROD · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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 2022Property tax & assessments
Tax year 2022
Tax billed
$4,296,517
Tax year 2022
Assessed value
$100,315,600
Assessed 2023
Previous assessed
$100,315,600
+0.0% YoY
Effective rate
4.28%
On assessed value
Assessed land
$25,807,400
Assessed improvement
$74,508,200
Land market value
$25,807,400
Improvement market value
$74,508,200
Total market value
$100,315,600
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1957
Heating
NONE
Units
1
Total area
1,968 SF
Lot
88.85 ac (3,870,306 SF)
Zoning code
PROD
APN
18 00701-0000-00001
UPID
US59-1123639
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
PROD · Summit, NJ
Zoning PROD · permitted uses
PROD · 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
Year built
1957
Heating
NONE
Units
1
Lot
88.85 ac
Current owner
From public records · entity-resolved
Summit West Celgene LLC
Entity
Free & Clear · 10 yrs held
Mailing address
86 MORRIS AVE, SUMMIT, NJ 07901-3915
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2015
$90,000,000
Summit West Celgene LLC
Merck Sharp & Dohme Corp
Grant Deed
—
Mar 13, 2013
—
Merck Sharp & Dohme Corp
Merck Sharp & Dohme Corp
Quit Claim Deed
related
—
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.
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