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    Property profile & analytics

    573 Springfield Ave Summit, NJ 07901-4503

    • Office buildings
    • 0.33 lot acres
    OFF-MARKET
    Value Estimation
    $1,440,000
    Last Sale
    Jul 24, 2023
    $1,400,000
    Location Intelligence
    Property ID
    US59-2691060
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Naked Botanical / Business To Business Service
    • Marshall Weinerman Real Estate / Real Estate Agency
    • FedEx Drop Box / Mailing Service
    • Newstar Homes / Contractor
    • Sustainable Pathway Consulting / Business Management Consultant

    Property Details for 573 Springfield Ave

    Lot size
    0.33 lot acres
    Zone code
    ORC1
    Property type
    Office buildings
    APN
    18 01803-0000-00002
    APU
    1801803000000002

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,400,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,480,000
      6.5%
      $1,325,000
      7%
      $1,525,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,480,000
      Geo Method
      $1,540,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,320,000
      Retail
      $1,425,000
      Mixed-Use
      $1,585,000
      Hospitality
      $1,450,000
      Educational
      $1,685,000
      Residential Income
      $1,440,000
      Energy
      $1,715,000
      Income-Based Land
      $1,750,000
      Food Service
      $1,535,000

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Union
    State
    New Jersey
    Longitude
    -74.3669
    Latitude
    40.7159
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $15,522
    $223,200
    $139,200
    $362,400
    -
    $223,200
    $139,200
    $362,400

    Comparable in this City

    • Value Estimation
      $2,375,000
      4,220 SF

      803 Springfield Ave

      OFFICE BUILDING • 4,220 SF
      803 Springfield Ave, Summit, NJ 07901-5110
      View Details
    • Value Estimation
      $395,000
      0.44 Acres

      575 Springfield Ave

      OFFICE BUILDING • 0.44 Acres
      575 Springfield Ave, Summit, NJ 07901-4503
      View Details
    • Value Estimation
      $6,385,000
      22,410 SF

      475 Springfield Ave

      OFFICE BUILDING • 22,410 SF
      475 Springfield Ave, Summit, NJ 07901-2600
      View Details
    • Value Estimation
      $1,965,000
      6,600 SF

      137 Smt Ave

      OFFICE BUILDING • 6,600 SF
      137 Smt Ave, Summit, NJ 07901-2800
      View Details
    • Value Estimation
      $810,000
      5,683 SF

      422 Morris Ave

      OFFICE BUILDING • 5,683 SF
      422 Morris Ave, Summit, NJ 07901-1522
      View Details
    • Value Estimation
      $465,000
      2,531 SF

      802 Old Springfield Ave

      OFFICE BUILDING • 2,531 SF
      802 Old Springfield Ave, Summit, NJ 07901-1130
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Conveniently located office building with easy highway access.
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      View Details
    • Contact for pricing
      21,968 SF

      Class A Office Space Summit

      Premier office building in Summit, New Jersey, with 21,968 SF.
      535 Springfield Ave, Summit, NJ 07901
      View Details
    • Contact for pricing
      4,040 SF

      Renovated Mixed-Use Building in Summit

      Fully renovated mixed-use building in Downtown Summit's retail corridor.
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      View Details
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      15,000 SF

      Prime Summit Office Space

      Executive Suites, 2,500 SF Available
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      20,000 SF

      Prime Summit Executive Office Space

      NJ Office Suites - 1,257 to 2,200 SF
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      View Details
    • $2,500 /Mo

      Move-in Ready Downtown Summit Office

      Office space in the heart of downtown Summit, NJ.
      11 Union Pl, Summit, NJ 07901
      View Details
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    573 Springfield Ave
    Summit, NJ 07901-4503
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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