Triplex with
New
For Sale
$999,999
1112 Virginia St, Elizabeth, NJ 07201
Multi-Family, 3-Three Story, Elizabeth City, NJ
Property Size3,000 SF
Lot Size0.13 Acres
Price / SF$333.33
Days on Market2
Property Features for 1112 Virginia St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 7, Bedroom 9, Basement, Bedroom 8, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 3
Parking
2
Directions
USE GPS
Standard status
Active
Size
3,000 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14445
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1915
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
ELITE REALTORS OF NEW JERSEY
Listed By:
EDWIN DEVIA
(973) 994-9009
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 19 at 10:06PM
MLS# 4053787
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.
Investment Insights
Based on property information with market context.
This triplex in Elizabeth, New Jersey, contains approximately 3,000 square feet of residential space on a 0.13-acre parcel. The room inventory includes 9 bedrooms, 3 bathrooms, and a basement, providing a substantial residential configuration within the building. Construction dates to 1915, with hot-water and baseboard heating serving the property.
Public water and public sewer support the site, while a shingle roof completes the primary exterior improvements. The property is located at 1112 Virginia St in Elizabeth City, Union County, with postal code 07201-1395. Its established residential setting and multi-unit format define the asset for an income-property buyer.
Public water and public sewer support the site, while a shingle roof completes the primary exterior improvements. The property is located at 1112 Virginia St in Elizabeth City, Union County, with postal code 07201-1395. Its established residential setting and multi-unit format define the asset for an income-property buyer.
Key Highlights
- Triplex configuration with 3,000 square feet of residential space
- 9 bedrooms and 3 bathrooms
- 0.13‑acre parcel with basement
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
$57,154
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
5.72%
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%
$1,143,080
$1.1M
Cap Rate 7%
$816,486
$816.5K
Cap Rate 9%
$635,044
$635.0K
Market Conditions
NOI Build-Up for 3,000 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
$86.4K $28.80/SF
− Vacancy
−$4.8K −$1.58/SF
EGI
$81.6K $27.22/SF
− OpEx
−$24.5K −$8.16/SF
NOI
$57.2K $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%
$1,143,080
Cap Rate 7%
$816,486
Cap Rate 9%
$635,044
Alternative Uses
Best Use
Multifamily LT 5
$816.5K
$714.4K – $952.6K
NOI $57,154 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$1.11M
$972.3K – $1.30M
NOI $77,783 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 07201, NJ
29,390
Population
10,404
Households
2.8
Avg Household Size
35
Median Age
15%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
4,592
Density / Sq Mi
$62,026
Median Household Income
$33,092
Median Earnings
$1,476
Median Rent
$413,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Built in 1915, the property includes public water and sewer service.
Where is this triplex located?
The property is located at 1112 Virginia St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Triplex configuration with 3,000 square feet of residential space; 9 bedrooms and 3 bathrooms; 0.13‑acre parcel with basement
