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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Office buildings
573 Springfield Ave Summit, NJ 07901-4503
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-2691060
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Lot
0.33 ac (14,279 SF)
Zoning code
ORC1
APN
18 01803-0000-00002
UPID
US59-2691060
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 Naked Botanical Business To Business Service
-
Marshall Weinerman Real Estate Real Estate Agency
-
FedEx Drop Box Postal Service Courier Service
-
Newstar Homes General Contractor
-
Sustainable Pathway Consulting Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.40M
Owner & transaction history
Ko Realty Summit LLC · 3 yrs held
Ko Realty Summit LLC
since 2023
Last sale
$1.4M
6 recorded transactions
Zoning & alternative use
ORC1 · 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
$1,400,000
ML approach
$1,425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.40M (Jul 24 2023)
Last sale anchor
$1.40M
Jul 24 2023
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 2022Property tax & assessments
Tax year 2022
Tax billed
$15,522
Tax year 2022
Assessed value
$362,400
Assessed 2023
Previous assessed
$362,400
+0.0% YoY
Effective rate
4.28%
On assessed value
Assessed land
$223,200
Assessed improvement
$139,200
Land market value
$223,200
Improvement market value
$139,200
Total market value
$362,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
NONE
Lot
0.33 ac (14,279 SF)
Zoning code
ORC1
APN
18 01803-0000-00002
UPID
US59-2691060
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
ORC1 · Summit, NJZoning ORC1 · permitted uses
ORC1 · Summit, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
Ko Realty Summit LLC
Entity
Mailing address
55 N MAPLE AVE, RIDGEWOOD, NJ 07450-3209
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2026
—
Ko Realty Summit LLC
—
Deed
related
$1,201,000 · 2012 Samuel Ketive Family Trust
Jul 24, 2023
$1,400,000
Ko Realty Summit LLC
573 Springfield Associates LLC
Deed
$1,050,000 · Columbia Bank
Jan 21, 2020
—
573 Springfield Associates LLC
—
Deed
related
$750,000 · M&t Bk
Feb 1, 2008
$1,400,000
573 Springfield Associates LLC
Hartlaub,jeffrey
Grant Deed
$1,040,000 · Royal Bank America
—
—
573 Springfield Associates LLC
—
Deed Of Trust
related
$880,000 · M & T Bank
—
—
573 Springfield Associates LLC
—
Deed Of Trust
related
$750,000 · M&t Bk
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
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