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    Elizabeth Ave Elizabeth, NJ 07206

    For Sale
    $3,225,000

    Prime Elizabeth, NJ multifamily & retail. High ROI potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional investment opportunity in Elizabeth, New Jersey, presents a unique blend of commercial and residential income streams. The property, situated on a 0.11-acre lot on Elizabeth Avenue, comprises two retail spaces currently leased as a single unit, and seven residential apartments. The apartment mix includes three one-bedroom units and four two-bedroom units, providing a diverse tenant base. Six of the seven apartments boast private balconies, offering tenants desirable outdoor space. The first-floor apartment does not have a balcony. All units are equipped with central air conditioning (CAC), and utilities are individually metered for efficient cost allocation. A full basement provides ample storage space, including a dedicated utility room. The current leases for the residential units expire in June 2025, presenting future opportunities for rent adjustments and lease renegotiations. Owner financing is available, making this an attractive proposition for investors seeking flexible payment options. This property offers a compelling combination of stable rental income and significant long-term growth potential in a vibrant New Jersey location. Don't miss this chance to acquire a well-maintained, income-producing asset with a strong track record. The property's strategic location and diverse income streams make it an ideal addition to any investment portfolio.

    Property Features for Elizabeth Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    4,792 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.18974
    Latitude
    40.64521

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Elizabeth, NJ multifamily & retail. High ROI potential.
    Where is this commercial real estate located?
    The property is located at Elizabeth Ave Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $3,225,000.
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    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
    Elizabeth Ave Elizabeth, NJ 07206
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