Warehouse and Storefront with
For Sale
$1,300,000
113 ELIZABETH AVE, Elizabeth, NJ 07206
A 3,100 sq ft warehouse/storefront with 18 ft ceilings on a 50x100 lot, plus two renovated apartments above.
Property Size9,999 SF
Lot Size0.11 Acres
Price / SF$130.01
Days on Market276
Property Features for 113 ELIZABETH AVE
General Information
Standard status
Active
Size
9,999 SF
Lot size
0.11 Acres
Property subtype
General Commercial
Additional Details
Clear Height
18 ft
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,347
Amenities
3
Flat
C-2
Parking.
1 Car, Off Street.
50X100, 50X100
Central Business District.
Listing Agency:
KYM REALTY GROUP LLC
(908) 991-3912
Listed By:
MILAGROS ALVAREZ · License #298659
Source:
Xome
Added: Nov 8, 2025
Changed: Aug 8
Last Checked: Aug 10 at 3:37AM
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 KYM REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This property combines a warehouse/storefront with two fully renovated 2-bedroom residential apartments above. The warehouse component offers 18 ft ceiling height and is suited for a range of light commercial uses, including retail, light industrial, distribution, or contractor operations, based on the layout and versatility described in the offering. All units are vacant, supporting immediate flexibility for an owner-operator or investor.
The building sits on a 50x100 lot. Both residential units are described as move-in ready following renovation, and the property is positioned for live/work use or rental income generation.
Offered for sale as a multi-use structure with separate functional components, the property provides a combined commercial and residential configuration in one address.
The building sits on a 50x100 lot. Both residential units are described as move-in ready following renovation, and the property is positioned for live/work use or rental income generation.
Offered for sale as a multi-use structure with separate functional components, the property provides a combined commercial and residential configuration in one address.
Key Highlights
- 3,100 sq ft warehouse/storefront with 18 ft ceiling height
- Two fully renovated 2‑bedroom residential apartments above the commercial space
- All units are vacant, allowing immediate occupancy or rental setup
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
$116,052
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
8.93%
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%
$2,321,040
$2.3M
Cap Rate 7%
$1,657,886
$1.7M
Cap Rate 9%
$1,289,467
$1.3M
Market Conditions
NOI Build-Up for 9,999 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
$192.0K $19.20/SF
− Vacancy
−$13.4K −$1.34/SF
EGI
$178.5K $17.86/SF
− OpEx
−$62.5K −$6.25/SF
NOI
$116.1K $11.61/SF
Area
Elizabeth, NJ
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$2,321,040
Cap Rate 7%
$1,657,886
Cap Rate 9%
$1,289,467
Alternative Uses
Best Use
Retail
$1.98M
$1.73M – $2.31M
NOI $138,334 @ 7.0% cap · market cap 10.64%
Second Best
Warehouse
$1.95M
$1.71M – $2.27M
NOI $136,426 @ 7.0% cap · market cap 10.49%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,251 @ 7.0% cap · market cap 19.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
2
Residential units
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07206, NJ
30,982
Population
9,712
Households
3.2
Avg Household Size
31
Median Age
8%
College-Educated
64%
High-School Grad
1.8 sq mi
ZIP Area
17,212
Density / Sq Mi
$60,992
Median Household Income
$38,541
Median Earnings
$1,543
Median Rent
$339,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A 3,100 sq ft warehouse/storefront with 18 ft ceilings on a 50x100 lot, plus two renovated apartments above.
Where is this flex space located?
The property is located at 113 ELIZABETH AVE Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,100 sq ft warehouse/storefront with 18 ft ceiling height; Two fully renovated 2‑bedroom residential apartments above the commercial space; All units are vacant, allowing immediate occupancy or rental setup
