Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Heating YN

    YES

  • Heating

    Baseboard, Natural Gas

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Pool

    No

Area & Lot

  • Lot Features

    Corner Lot

  • Lot Size(acres)

    0.06

  • Property Type

    Commercial Sale

  • Property Sub Type

    Mixed Use

Price

  • Sales Price

    $2,100,000

  • Tax Amount

    $19,783

  • Zoning

    CBD

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Ownership

    Fee Simple

  • Sewer

    Public Sewer

  • Tax Lot

    *

  • Water Source

    Public

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Location

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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.

53 Summit Ave

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Related Properties

Prime Investment Opportunity " 57 Park Ave, Summit, NJ Welcome to an exceptional multi-family property located in the highly sought-after town of Summit. This well-positioned asset features 5 residential units, consisting of two 1-bedroom apartments and three 2-bedroom apartments, offering a solid and diverse rental mix with strong income potential. Situated in a prime location, the property is just minutes from downtown, shopping, dining, and major transportation making it highly desirable for tenants and ensuring consistent demand. What truly sets this property apart is its value-add potential. The basement currently includes an additional 2-bedroom layout, presenting the opportunity for a 6th unit. With proper approvals, including transitioning to 4A zoning, this could significantly increase rental income and overall property value. Highlights 5 Existing Units (2 one-bedrooms, 3 two-bedrooms) Prime Summit Location Strong Rental Demand Area Value-Add Opportunity with Potential 6th Unit Basement Layout Ready for Conversion (subject to approvals) Ideal for Investors Looking to Increase Cash Flow This is a rare chance to acquire a property in one of Union County's most desirable markets with built-in upside. Property also features a well-maintained common laundry area equipped with two coin-operated machines, providing added convenience for tenants and additional income potential.
#4016804

Summit City

57 Park Ave

None Beds

None Baths

4,300 Sq.Ft.

$1,900,000

MLS#: 4016804

 - property

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