Three-Unit Triplex with Finished
For Sale
$849,000
Pending
108-110 Orchard St, Elizabeth, NJ 07208
Three residential units offer modern kitchens, bathrooms, dedicated parking, and additional finished basement space.
Property Size3,760 SF
Days on Market180
Property Features for 108-110 Orchard St
General Information
Standard status
Pending
Size
3,760 SF
Total Parking Spaces
3
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Multifamily Units
3
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$10,445
Amenities
Baseboard, Natural Gas
Finished, Walk-Out Access
Gas Water Heater
Shared Driveway
3-Three Story
Building Details
Building Size
3,760 SF
Year Built
1900
Stories
3
Listing Agency:
Realty One Group Legend, Clifton
(917) 903-2182
Listed By:
JENNIFER NIEVES
(917) 903-2182
Source:
Evrealestate
Added: Mar 3
Changed: Aug 29
Last Checked: Jul 18 at 2:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One Group Legend, Clifton
Investment Insights
Based on property information with market context.
Located at 108-110 Orchard Street in Elizabeth, this triplex contains 3 residential units, each with a modern kitchen, bathroom, spacious layout, and one dedicated parking space. The property is occupied by month-to-month tenants, with all units producing rental income.
A fully finished basement provides bonus space with separate private access. The area can accommodate storage or gathering use. The property is near Kean University, NJ Transit, major highways, Newark Airport, and the Port of Elizabeth.
A fully finished basement provides bonus space with separate private access. The area can accommodate storage or gathering use. The property is near Kean University, NJ Transit, major highways, Newark Airport, and the Port of Elizabeth.
Key Highlights
- 3‑unit triplex with income‑producing residential units
- Each unit includes one dedicated parking space
- Modern kitchens, bathrooms, and spacious layouts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,633
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,432,660
$1.4M
Cap Rate 7%
$1,023,329
$1.0M
Cap Rate 9%
$795,922
$795.9K
Market Conditions
NOI Build-Up for 3,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.3K $28.80/SF
− Vacancy
−$6.0K −$1.58/SF
EGI
$102.3K $27.22/SF
− OpEx
−$30.7K −$8.16/SF
NOI
$71.6K $19.05/SF
Area
Elizabeth, NJ
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,432,660
Cap Rate 7%
$1,023,329
Cap Rate 9%
$795,922
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.4K – $1.19M
NOI $71,633 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$911.2K
$797.3K – $1.06M
NOI $63,787 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,488 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 07208, NJ
33,561
Population
12,958
Households
2.6
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
18,645
Density / Sq Mi
$61,873
Median Household Income
$36,373
Median Earnings
$1,364
Median Rent
$425,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer modern kitchens, bathrooms, dedicated parking, and additional finished basement space.
Where is this triplex located?
The property is located at 108-110 Orchard St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3‑unit triplex with income‑producing residential units; Each unit includes one dedicated parking space; Modern kitchens, bathrooms, and spacious layouts
