Retail Storefront
For Sale
$1,200,000
1137 Dickinson St, Elizabeth, NJ 07201
A furniture store-operated storefront property suited for retail continuity, redevelopment, or owner-user occupancy.
Property Size4,800 SF
Price / SF$250
Days on Market88
Property Features for 1137 Dickinson St
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$22,512
Amenities
Central air
1 Unit Cooling
1 Unit Heating
Flat Roof
Building Details
Year Built
1965
Listing Agency:
RE/MAX IN ACTION
(908) 558-2727
Listed By:
CARLOS BOLIVAR · License #291141
Source:
Corcoran
Added: Jun 4
Changed: Aug 28
Last Checked: Aug 29 at 8:29AM
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 RE/MAX IN ACTION
Investment Insights
Based on property information with market context.
This property is currently operating as a furniture store and presents a flexible retail storefront configuration for continued commercial use. It is offered for sale to support a range of paths, including owner-user use, investment holding, or redevelopment and expansion plans based on the property’s existing retail presence.
Located at 1137-1141 Dickinson Street in Elizabeth, NJ, the site is described as having convenient access to major highways, transportation hubs, and local amenities. Elizabeth’s broader commercial context includes proximity to regional transportation assets and the New York metropolitan area, which may support a variety of retail and mixed-use considerations.
For tenants, buyers, or developers seeking a retail-oriented asset, the property’s current furniture store operation may provide an immediate foundation for retail continuity while still allowing redesign if your business requirements call for changes. If you’re evaluating options in Union County, this offering can be aligned to a retail concept, an owner-user buildout, or a redevelopment plan tailored to the next intended use.
Located at 1137-1141 Dickinson Street in Elizabeth, NJ, the site is described as having convenient access to major highways, transportation hubs, and local amenities. Elizabeth’s broader commercial context includes proximity to regional transportation assets and the New York metropolitan area, which may support a variety of retail and mixed-use considerations.
For tenants, buyers, or developers seeking a retail-oriented asset, the property’s current furniture store operation may provide an immediate foundation for retail continuity while still allowing redesign if your business requirements call for changes. If you’re evaluating options in Union County, this offering can be aligned to a retail concept, an owner-user buildout, or a redevelopment plan tailored to the next intended use.
Key Highlights
- Commercial property built in 1965, currently operating as a furniture store
- 1137‑1141 Dickinson Street suited for retail continuity, owner‑user occupancy, or redevelopment
- Versatile use for retail, mixed‑use redevelopment, or investment purposes
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
$66,407
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
5.53%
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%
$1,328,140
$1.3M
Cap Rate 7%
$948,671
$948.7K
Cap Rate 9%
$737,856
$737.9K
Market Conditions
NOI Build-Up for 4,800 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
$103.7K $21.60/SF
− Vacancy
−$8.8K −$1.84/SF
EGI
$94.9K $19.76/SF
− OpEx
−$28.5K −$5.93/SF
NOI
$66.4K $13.83/SF
Area
Elizabeth, NJ
Vacancy
8.50%
Lease Rate
$21.60 /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%
$1,328,140
Cap Rate 7%
$948,671
Cap Rate 9%
$737,856
Alternative Uses
Best Use
Retail
$948.7K
$830.1K – $1.11M
NOI $66,407 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,453 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,436
Businesses Nearby
124k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 32%
Apparel 22%
Electronics 7%
McDonald's
Dining
17,774 visits/mo
0.1 miles
Shoppers World
Apparel
15,617 visits/mo
0.1 miles
BP
Shops & Services
15,037 visits/mo
0.1 miles
Bank of America
Shops & Services
14,767 visits/mo
0.2 miles
KFC
Dining
10,204 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - A furniture store-operated storefront property suited for retail continuity, redevelopment, or owner-user occupancy.
Where is this storefront property located?
The property is located at 1137 Dickinson St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Commercial property built in 1965, currently operating as a furniture store; 1137‑1141 Dickinson Street suited for retail continuity, owner‑user occupancy, or redevelopment; Versatile use for retail, mixed‑use redevelopment, or investment purposes
