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    9-15 1St St Elizabethport, NJ 07206

    For Sale
    $1,200,000

    High-Yield Multi-Unit Property with Garage

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional investment property, located at 9-15 First Street in Elizabethport, NJ, presents a lucrative opportunity for discerning investors. The 0.12-acre lot encompasses a mixed-use building featuring three 2-bedroom apartments, each boasting 1.5 bathrooms, and a substantial approximately 2000 square foot garage currently operating as a successful bike shop. The apartments generate a combined monthly rental income of $8,085, with individual rents of $1,700, $1,675, and $1,700 respectively. The commercial garage space contributes an additional $3,000 per month in rental income, resulting in a strong total monthly revenue stream. Separate utility meters ensure efficient cost allocation for both residential and commercial tenants. This property offers a compelling blend of residential and commercial income, providing a diversified investment portfolio with significant potential for future appreciation. The property is priced at $1,200,000, representing a solid return on investment. The existing tenant in the garage space provides immediate cash flow, while the apartments offer stable long-term rental income. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location. The property's size and layout offer flexibility for future development or expansion, further enhancing its investment potential. Serious inquiries are encouraged.

    Property Features for 9-15 1St St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    5,227 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethport
    County
    Union
    State
    New Jersey
    Longitude
    -74.19017
    Latitude
    40.64663

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    FAQs

    What type of property is this?
    Commercial real estate - High-Yield Multi-Unit Property with Garage
    Where is this commercial real estate located?
    The property is located at 9-15 1St St Elizabethport, NJ.
    What is the asking price?
    The asking price for this property is $1,200,000.
    (908) 289-7746
    Request Owner's contact information
    9-15 1St St Elizabethport, NJ 07206
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    Elizabethport, 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
    9-15 1St St Elizabethport, NJ 07206
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