Multifamily Residential
For Sale
$999,999
1112 Virginia St, Elizabeth, NJ 07201
Located in Elizabeth, the property offers access to public transportation, major highways, shopping, restaurants and schools.
Property Size3,000 SF
Price / SF$333.33
Days on Market17
Property Features for 1112 Virginia St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1915
Listing Agency:
ELITE REALTORS OF NEW JERSEY
Listed By:
EDWIN DEVIA
(973) 994-9009
Source:
Luminancerealty
Added: Sep 24
Changed: Sep 25
Last Checked: Oct 6 at 12:54AM
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 ELITE REALTORS OF NEW JERSEY
Investment Insights
Based on property information with market context.
This multifamily property at 1112 Virginia Street contains multiple residential units. The building dates to 1915 and is located in Elizabeth, New Jersey.
Public transportation and major highways are accessible from the property, with shopping, restaurants and schools in the surrounding area. Newark, Newark Liberty International Airport and New York City are also accessible from this location.
Public transportation and major highways are accessible from the property, with shopping, restaurants and schools in the surrounding area. Newark, Newark Liberty International Airport and New York City are also accessible from this location.
Key Highlights
- Multiple residential units
- Built in 1915
- Elizabeth location with access to major highways and public transportation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,894
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,880
$1.0M
Cap Rate 7%
$727,057
$727.1K
Cap Rate 9%
$565,489
$565.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$97.2K $32.40/SF
− Vacancy
−$4.7K −$1.56/SF
EGI
$92.5K $30.84/SF
− OpEx
−$41.6K −$13.88/SF
NOI
$50.9K $16.96/SF
Area
Elizabeth, NJ
Vacancy
4.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,880
Cap Rate 7%
$727,057
Cap Rate 9%
$565,489
Alternative Uses
Best Use
Apartment 5plus
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
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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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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Located in Elizabeth, the property offers access to public transportation, major highways, shopping, restaurants and schools.
Where is this multifamily property 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: Multiple residential units; Built in 1915; Elizabeth location with access to major highways and public transportation
