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    The Largest CRE Database in the US with Over 1 Million Listings

    167 Smith St Elizabeth, NJ 07201

    Sponsored
    For Sale
    $1,800,000

    Commercial - Elizabeth City, NJ

    Property size:
    4,950 SF
    Days on Market:
    46
    Last Refresh:
    Jan 22 at 8:06 am

    Property Features for 167 Smith St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    6 units
    Rooms
    Basement
    Basement Y/N
    1
    Size
    4,950 SF

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    6
    Flooring type
    Laminate, Tile
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    JAZMINE CLAUSEN-SOIR

    Better Homes and Gardens RE Elite (908) 316-8530 [email protected]

    Listing agent JAZMINE CLAUSEN-SOIR (908) 316-8530

    Listing date Dec 8, 2025

    MLS# 4000720 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Six-Unit Multifamily Building

    This fully renovated six-unit building, completed in 2023, offers approximately 4,950 square feet of space. The building features comprehensive structural and systems upgrades completed to code, including new framing, plumbing, electrical, roofing, siding, structural reinforcement, a new sewer line, a full French drain system, and increased building height. Each of the six units provides a 2-bedroom, 1-bath layout, with unit sizes ranging from approximately 750 to over 1,000 square feet and ceiling heights exceeding 8 feet. Each unit also includes an intercom system, and two units (1R and 2L) feature private street-level entrances. The property is equipped with six individual Navien combination boiler systems, one per apartment, providing heat and hot water with efficient, tenant-paid utility separation. The building has one water meter. Gas baseboard heat and separate gas and electric meters are installed for each unit. The property is located across from Point Grande Plaza shopping center and is minutes from The Mills at Jersey Gardens, Elizabeth Center, Union Square, Broad St, Morris Avenue, Elmora Avenue, and a nearby cannabis dispensary. Situated approximately 2 miles from Newark Airport (EWR), the asset offers commuter convenience with proximity to major highways, NJ Transit Elizabeth bus routes, and both Elizabeth NJ Transit train stations. The property is located in Elizabeth, NJ.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.20151
    Latitude
    40.66359

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    FAQs

    What type of property is this?
    Apartment building - Turnkey six-unit building fully renovated in 2023.
    Where is this apartment building located?
    The property is located at 167 Smith St Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - Fully renovated A-Z in 2023 with comprehensive structural and systems upgrades completed to code, making it a truly turnkey investment.; - Six individual Navien combination boiler systems provide efficient, tenant-paid heat and hot water, simplifying building operations and maximizing ROI.; - Six spacious 2-bedroom, 1-bath units (approximately 750 - 1,000+ sqft each) with ceiling heights over 8 ft, appealing to a wide range of tenants.
    (908) 316-8530
    Request Owner's contact information
    167 Smith St Elizabeth, NJ 07201
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    Elizabeth, NJ 07201
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    167 Smith St Elizabeth, NJ 07201
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    Listing Contact
    JAZMINE CLAUSEN-SOIR
    (908) 316-8530
    Learn more
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