Listing Details

53 Summit Ave,Summit City, NJ 07901-3613

  • June 9, 2026

Description

Positioned in the heart of Downtown Summit, this exceptional corner mixed-use property presents a rare opportunity to acquire a premier investment in one of New Jersey’s most desirable and vibrant downtown districts. The property features three residential apartments on the second level including one one-bedroom residence and two studio apartments complemented by commercial space on the ground floor.The lower level offers expansive flexible space with direct exterior access, creating additional potential for storage, operations, creative workspace, or supplemental use opportunities. Residential tenants enjoy a dedicated private entrance from Franklin Place.Ideally situated just steps from the Summit Parking Garage, NJ Transit train station with direct service to New York City, boutique shopping, acclaimed dining, and everyday conveniences, the property benefits from exceptional visibility, strong pedestrian traffic, and a highly walkable commuter-centric location. The luxury townhome development along Franklin Place further enhances the long-term appeal and investment potential of this dynamic downtown corridor.Ideal for investors seeking stable mixed-use income, an owner-user desiring a flagship downtown presence, or a developer, this offering represents a unique opportunity within Summit commercial market.

Details

Last Updated On: June 9th, 2026 at 6:47 am
Property ID:PT-46615872-AXZR
Offer Type:For Sale
Property Type:Mixed Use
Price: 2,100,000 $
Year Built:9999

Additional Details

Listing Details

Status: Active

Location

County: Union
Lotsize: 41X64
Lot Description: Corner
Office SqFt: 2100
Property Type: Mixed Use, Office/Retail, Store With Apartment
Lot Identifier: 3

Home Details

Location: Business District, Corner, Freestanding
Acreage: 0.06
Sale Includes: Building & Land
Construction: Brick/Block
Exterior Description: Brick/Block
Roof Description: Asphalt Shingle
Number of Stories: 2
Number of Units: 5
Number of Lavatories: 3
Floors: Carpeting, Concrete, Tile, Wood
Available SqFt: 4200
Building SqFt: 4200
Parking Desc: None
Easement/Desc: Unknown
Basmnt/Desc: Yes - Finished-Partially, Full, Storage, Walkout
Block Identifier: 3401
County Number: 29
Town Number: 2918
Possession: Negotiable

Taxes, Fees & Assessments

For Sale Or Lease: For Sale
Documents Available: Financial Statement, Income & Expenses, Leases, No Documents Available, Survey
Ownership: Fee Simple
Tax ID For Property: 2918-03401-0000-00003-0000-
Tax Amount: $19,783.00
Tax Year: 2025
Tax Rate: 4.471%
Tax Rate Year: 2025
Farm Assessment: No
Land Assessment: $131,000.00
Building Assessment: $294,000.00
Total Assessment: $425,000.00

Utilities

Equipment Available: Restrooms - Private, Smoke Detector, Sprinkler System, Storage Area(s)
Heat Source: Gas-Natural
Heat System: 4+ Units, Baseboard - Hotwater
Cool System: 1 Unit, Central Air, Wall A/C Unit(s)
Water: Public Water
Sewer: Public Sewer
Utilities: Electric, Gas-Natural

Other

Permitted Use: Mixed Use
Zoning: CBD
Prior Use: Mixed Use Building

Statistics

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