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    620-622 Elizabeth Ave Elizabeth, NJ 07206

    Sponsored
    For Sale
    $3,225,000

    Multi Family - Elizabeth, NJ

    Type:Multi Family
    Property size:
    11,608 SF
    Lot size:
    0.11 Acres
    Days on Market:
    259
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 620-622 Elizabeth Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Multi Family
    Standard status
    Active
    Zoning
    comm
    APN
    0400642000000023
    Parking features
    On Street
    Size
    11,608 SF
    Lot size
    0.11 Acres

    Building Details

    Year built
    1900
    Number of units
    7
    Architectural style
    Other

    BORAIE Realty, LLC (732) 846-3700 [email protected]

    Listing agent IVAN GUTIERREZ (732) 846-3700

    Listing date Apr 22, 2025

    MLS# 2503739R Listing URL

    Copyright © 2025 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Elizabeth Mixed-Use Investment Opportunity

    This mixed-use property in Elizabeth, New Jersey, features two retail spaces, currently rented as a single unit, and seven apartments. The apartment mix includes three one-bedroom units and four two-bedroom units. Six of the apartments have balconies; the first-floor unit does not. The property has central air conditioning in all units, and all utilities are divided and individually metered. A full basement includes a utility room. The lot size is 0.1148 acres and the property size is 11,608 square feet. The current leases for the apartments extend until June 2025. Owner financing is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.200783
    Latitude
    40.656537

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail and apartments in Elizabeth, NJ.
    Where is this mixed-use property located?
    The property is located at 620-622 Elizabeth Ave Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $3,225,000.
    What are key features of this property?
    This property features: - Income-generating property with 2 retail spaces and 7 apartments.; - Owner financing available.; - Central air conditioning in all units.
    (732) 846-3700
    Request Owner's contact information
    620-622 Elizabeth Ave Elizabeth, NJ 07206
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    Elizabeth, NJ 07206
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    Realmo Value Estimation

    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.

    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.

    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
    620-622 Elizabeth Ave Elizabeth, NJ 07206
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