Elizabeth Avenue Mixed-Use
For Sale
Contact for pricing
1127-1129 Elizabeth Avenue, Elizabeth, NJ 07201
Mixed-use property in Elizabeth's downtown with commercial and residential units.
Property Size6,369 SF
Lot Size0.18 Acres
Price / SF$266.92
Days on Market106
Property Features for 1127-1129 Elizabeth Avenue
General Information
Standard status
Active
Size
6,369 SF
Lot size
0.18 Acres
Property subtype
Mixed Use
Net Operating Income
$126,156
Building Details
Year Built
1924
Buildings
1
Units
4
Listing Agency:
Horvath & Tremblay
(201) 215-1801
Listed By:
Michael Lombardi · License #0569706
Source:
Crexi
Added: May 18
Changed: Aug 28
Last Checked: Aug 29 at 10:58PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
The mixed-use investment property at 1127-1129 Elizabeth Avenue in Elizabeth, New Jersey, features a two-story building with a total of four units. The 6,369 square foot building, situated on a 0.18-acre parcel, includes two commercial units and two residential units. Gated and secure parking is available behind the building. Centrally located along Elizabeth Avenue in the heart of Elizabeth’s downtown, the property is positioned between US Route 9 and Broad Street, offering convenient access to major highways, public transportation, schools, and key employment centers. The surrounding area includes a mix of grocers, national and local retailers, and restaurants. It is located near Trinitas Regional Medical Center, Elizabeth Train Station with service to Penn Station, Newark Liberty International Airport, Kean University, and The Mills at Jersey Gardens. The location also provides convenient access to Staten Island and Newark’s downtown. Elizabeth, the fourth largest city in New Jersey and a suburb of New York City, is located in Union County, 15 miles southwest of New York City.
Key Highlights
- Mixed‑use property with two commercial and two residential units
- Prime downtown Elizabeth location with high visibility on Elizabeth Avenue
- Convenient access to major highways, public transportation (Elizabeth Train Station), and Newark Liberty International Airport
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
$87,892
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
5.17%
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%
$1,757,840
$1.8M
Cap Rate 7%
$1,255,600
$1.3M
Cap Rate 9%
$976,578
$976.6K
Market Conditions
NOI Build-Up for 6,369 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
$152.9K $24.00/SF
− Vacancy
−$12.2K −$1.92/SF
EGI
$140.6K $22.08/SF
− OpEx
−$52.7K −$8.28/SF
NOI
$87.9K $13.80/SF
Area
Elizabeth, NJ
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,757,840
Cap Rate 7%
$1,255,600
Cap Rate 9%
$976,578
Alternative Uses
Best Use
Mixed Use
$1.26M
$1.10M – $1.46M
NOI $87,892 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,133 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,241
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in Elizabeth's downtown with commercial and residential units.
Where is this mixed-use property located?
The property is located at 1127-1129 Elizabeth Avenue Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Mixed‑use property with two commercial and two residential units; Prime downtown Elizabeth location with **high visibility on Elizabeth Avenue**; Convenient access to major highways, public transportation (Elizabeth Train Station), and Newark Liberty International Airport
