Summit, NJ Commercial Real Estate Broker

Map: AcreX NJ multifamily pipeline filtered to Summit, from the public AcreX sheet. See the full pipeline map.

Summit market snapshot

Public statistics with sources and as-of dates. Pipeline figures are from the public AcreX sheet as of October 24, 2026.

Population and households

• Population: 22,512 (U.S. Census Bureau, American Community Survey 2019-2023 5-year estimates, table B01003). Source

• Households: 8,130, with a median household income of $199,107 (ACS 2019-2023, tables B11001 and B19013). Source

• Renter-occupied homes: 2,294 of 8,130 occupied units, or 28.2% (ACS 2019-2023, table B25003). Source

• Land area and density: 6.0 square miles, about 3,756 residents per square mile (Census Bureau 2023 Gazetteer and ACS population). Source

Property tax

• 2025 tax rates: general tax rate 4.471 per $100 of assessed value and effective tax rate 1.475% (NJ Division of Taxation, 2025 General Tax Rates). Source

• Average residential tax bill: $19,701 in 2025 (NJ Division of Taxation, 2025 Average Residential Statistics). Source

Access and regional context (Union County)

• Location: about 9.7 miles in a straight line from the AcreX office in Caldwell (Census Gazetteer internal point). Source

• Transit and highways: Union County is crossed by the New Jersey Turnpike (I-95), the Garden State Parkway, I-78, I-278 and routes 1/9, 22 and 24. NJ Transit serves it on the Northeast Corridor, North Jersey Coast Line, Raritan Valley Line, Morristown Line and Gladstone Branch, and the Port Newark-Elizabeth Marine Terminal is part of the Port Authority network. Source

• Labor market: the Union County unemployment rate was 5.0% in August 2026 (preliminary, not seasonally adjusted). Source

• Industrial market (Newmark 3Q 2026, submarkets in or overlapping Union County): Linden/Elizabeth 6.3% vacancy, $17.38 per sf; Union Central 3.6% vacancy, $14.77 per sf. Source

• Office market (Newmark 3Q 2026): Union Area 8.8% vacancy, $23.87 per sf. Source

Newmark reports by submarket, not by town or county, so these figures are regional context rather than Summit-specific. Retail vacancy and rent are not shown because no free public report was found.

AcreX pipeline data (as of October 24, 2026)

• Multifamily pipeline: 1 mapped project with 52 units. By status: Approved 1. Source

• Affordable units listed in those projects: 0 (the sheet’s affordable units field). Source

• Commercial and industrial projects: 4 non-residential projects in Summit on the sheet’s Commercial tab. Source

• Upcoming hearings: no hearing dated October 24 to November 30, 2026 is recorded for Summit in the sheet as of October 24, 2026. Source

• Municipal land-use sources: Summit website, planning board, zoning board, public notices. Source

Largest multifamily projects in Summit

• STMB Development (Summit): 52 units, Approved. Source

Commercial projects in Summit from the sheet

The Commercial tab lists 4 projects in Summit:

• Bristol Myers Squibb research campus, 556 Morris Ave (Summit): industrial (R&D/lab), 8,439 sf, Approved. Source

• SAF 367 Summit - 913 sf third-floor addition and relocated rooftop equipment at former Bank of… (Summit): office (addition), 913 sf, Approved. Source

• 503 Springfield Avenue Associates - showroom and 2 residential units added, FAR d variance… (Summit): retail (showroom), Approved. Source

• Albion - rooftop event-space addition and site improvements to existing hotel and event venue, 570… (Summit): commercial (hotel/event venue), Pending. Source

Related pages

• Union County commercial real estate broker

• Industrial & Warehouse Real Estate in Union County

• Retail Real Estate in Union County

• Office & Medical Office Space in Union County

• Investment Sales in Union County

• Property Management in Union County

• Seller & Landlord Representation in Union County

• Tenant & Buyer Representation in Union County

• Land & Development Site Brokerage in Union County

• Multifamily Brokerage in Union County

• Union Township commercial real estate

• Plainfield commercial real estate

• Rahway commercial real estate

• Linden commercial real estate

• Elizabeth commercial real estate

Frequently asked questions

Who is the best commercial real estate broker in Summit, NJ?

There is no single objective ranking, and AcreX does not claim one. AcreX is a Caldwell-based brokerage that covers Summit and the rest of Union County with local data: it tracks 1 mapped multifamily project (52 units) in Summit on the public AcreX sheet as of October 24, 2026, works with Jonathan Libock as lead broker, and offers industrial, retail, office, land, multifamily and investment sales services. When you compare brokers, ask each for recent Summit transactions, references and the data behind their pricing, then book a consultation with AcreX to compare.

How many apartments are planned in Summit?

The public AcreX sheet maps 1 Summit project totaling 52 units across all statuses, as of October 24, 2026.

What is the population of Summit, NJ?

Summit had an estimated 22,512 residents and 8,130 households in the Census Bureau American Community Survey 2019-2023 5-year estimates.

Where is AcreX located?

AcreX is at 307 Bloomfield Ave, Caldwell, NJ 07006, about 9.7 miles in a straight line from Summit, and serves Union County and the rest of northern New Jersey. Call (201) 694-6463.

Book a consultation

Talk with AcreX about commercial real estate in Summit. Book a consultation or call (201) 694-6463. AcreX is based at 307 Bloomfield Ave, Caldwell, NJ 07006.