Union County » 556 Morris Ave

Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ 07901 - Property report

Also known as: 556 Morris Ave

Property image for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ 07901

Property type

Office-Engineering/Research (563)

Acreage

88.85

Sale price

General information

Address

Primary address

Summit R&D/Commercialization Campus - 556 Morris Avenue

ZIP code

07901

County

Union

Block

701

Lot

Municipality

2018

Qualifier

Parcel ID

701-1

Sales

Sale date

05/02/2025

Sale price

Arm's length

Tax

Tax year

2026

Current property tax

$6,880,869

Building

Property type

Office-Engineering/Research (563)

Exterior structural material

Lot

Acreage

88.85

Zoning & Use

Zoning

Qualified opportunity zone

Area overview

Walk score

37 /100. Car-Dependent

Transit score

30 /100. Some Transit

Bike score

35 /100. Somewhat Bikeable

Broadband internet providers and speed map

Types of broadband connections

Ownership

Ownership information for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ

Property owner name

Registered owner

Source

Deed

Owner contact information

Phone number

Owner address

Documents

Sales history for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ 07901

Sale date	Sale price	Buyer name	Seller name
05/02/2025	$1	XXXXXX XXXX XXXXXXX XXX	XXXXXX XXXX XXXXXXX XXX
02/28/2025	$1	XXXXXXX XXXXX XXXXXX	XXXXXXX XXXXX XXXXXX
11/07/2024	$1	XXX XXXXXX XXXXXXXXXX XXXXXXXXXXXXXXX XXXXXXXXXX; XXXXXX XXXX XXXXXXX XXX	XXX XXXXXX XXXXXXXXXX XXXXXXXXXXXXXXX XXXXXXXXXX; XXXXXX XXXX XXXXXXX XXX

*Most recent sales on record for this property.

More about Union County property records.

Title documents

Date	Type	Party 1	Party 2
05/02/2025 - D 05/02/2025 - R	Deed and Realty Tax Fees	XXXXXX XXXX XXXXXXX XXX	XXXXXX XXXX XXXXXXX XXX
02/28/2025 - D 02/28/2025 - R	Deed and Realty Tax Fees	XXXXXXX XXXXX XXXXXX	XXXXXXX XXXXX XXXXXX
02/28/2025 - R 11/07/2024 - D	Deed and Realty Tax Fees	XXX XXXXXX XXXXXXXXXX XXXXXXXXXXXXXXX XXXXXXXXXX	XXX XXXXXX XXXXXXXXXX XXXXXXXXXXXXXXX XXXXXXXXXX
10/30/2015 - R 10/12/2015 - D	Deed and Realty Tax Fees	XXXXX XXXXX & XXXXX XXXX	XXXXXX XXXX XXXXXXX XXX
10/29/2010 - R 10/09/2010 - D	Deed and Realty Tax Fees	XXXXX & XX, XXX XXXXXXXX	XXXXX XX XXX XXXXXXXX
05/28/2003 - D	Deed and Realty Tax Fees
05/28/2003 - D	Deed and Realty Tax Fees

*Most recent recorded documents on file for this property.

R: Recorded date
D: Document date

Tax

Property taxes for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ

Property tax data includes tax amount, market value and assessed value, exemptions, abatements and assessment history.

Current property tax

Tax year

2026

Property tax

$6,880,869

Recent tax assessments

Market value

$153,900,000

Land value

$25,807,400

Building value

$128,092,600

More about Union County property taxes

Assessment history

See the assessment and property tax history, including the evolution of the total tax rate and corresponding property tax amount.

Tax year	Market value	Assessed value	Tax rate	Property tax	Y-o-Y change
2025	$153,900,000	$153,900,000	4.471	$6,880,869	+2.64%
2024	$153,900,000	$153,900,000	4.356	$6,703,884	+54.44%
2023	$100,315,600	$100,315,600	4.327	$4,340,656	+1.03%
2022	$100,315,600	$100,315,600	4.283	$4,296,517	+6.65%
2021	$93,315,600	$93,315,600	4.317	$4,028,434	-0.99%
2020	$93,315,600	$93,315,600	4.36	$4,068,560	-0.11%
2019	$93,315,600	$93,315,600	4.365	$4,073,226	-17.56%
2018	$113,921,300	$113,921,300	4.337	$4,940,767	-14.12%
2017	$131,796,076	$131,796,076	4.365	$5,752,899	-11.82%
2016	$151,686,300	$151,686,300	4.301	$6,524,028	-19.43%

Permits

Permit information for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ

No recently recorded permits for this property.

Listings

Neighborhood

Demographics by ZIP code

Total population

24,314

Median age

41.5

Average household income

$297,789

Family households

70.9%

People per household (average)

2.68

Occupied housing units

9,014

Owner-occupied units

66.3%

Median year structure built

1954

Median value mortgaged units

$985,100

Median value unmortgaged units

$995,000

Risk

Create a free account to unlock expanded risk information, such as crime incidents in the area, tsunami and landslides risks, or its location relative to FEMA flood zones and the Coastal Barriers Resources System Area (COBRA).

FEMA flood zones

FEMA flood zones

Fire hazard zones

Geohazard zones map

Transportation

Daily traffic map

View daily traffic map

Access the detailed traffic volume map for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ 07901 to see estimated average daily traffic on streets surrounding the property as well as the types of properties in its vicinity.

Nearby ZIP codes for Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ

07016, Union County, NJ 07023, Union County, NJ 07027, Union County, NJ 07033, Union County, NJ 07039, Essex County, NJ 07041, Essex County, NJ 07062, Union County, NJ 07076, Union County, NJ 07083, Union County, NJ 07088, Union County, NJ 07090, Union County, NJ 07092, Union County, NJ 07922, Union County, NJ 07928, Morris County, NJ 07932, Morris County, NJ 07935, Morris County, NJ 07940, Morris County, NJ 07974, Union County, NJ

Frequently asked questions

What is the market value of Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ 07901?

The current market value of Summit R&D/Commercialization Campus - 556 Morris Avenue, Summit, NJ 07901 is $153,900,000.

Disclaimer

All data comes from government sources. No attempt has been made to validate it. No attempt has been made to validate the accuracy of the programming of this website.

Do not rely on this report to support investment decisions. The only authoritative source for the information in this report is the government agencies from which the data was acquired.