Mixed-Use Property with Car
For Sale
$1,500,000
1169-1181 East Broad St, Elizabeth, NJ 07201
Two adjoining properties combine commercial operations with two residential apartments and leased occupancy.
Property Size8,057 SF
Price / SF$186.17
Days on Market339
Property Features for 1169-1181 East Broad St
General Information
Standard status
Active
Size
8,057 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
North Av Sect
Units
Unit Mix
1 x 2BR, 1 x studio
Multifamily Units
2
Additional Details
Gross Income
$102,180
Road Access
Yes
Amenities
3 drive-in doors
2 apartments
car wash
car detail
Building Details
Year Built
9999
Buildings
2
Stories
2
Units
4
Listing Agency:
Exit Realty Lucky Associates
(908) 354-6000
Listed By:
Antonio Costa · License #238477
(908) 354-6000
Source:
Betterhomerealestate
Added: Sep 26, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:21PM
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 Exit Realty Lucky Associates
Investment Insights
Based on property information with market context.
This mixed-use offering includes two adjoining properties with two commercial units and two residential apartments. The first property contains a 5,251-square-foot car wash facility and two apartments: one two-bedroom unit with a living room, kitchen, and bathroom, plus a studio apartment. The car wash business is not included in the sale. The second property provides 2,805 square feet of car-detailing space with three drive-in doors; the car-detailing business is also excluded.
The properties are located at 1169–1181 East Broad St in Elizabeth City, at the corners of East Broad Street, Chestnut Street, and Walnut Street. Existing leases extend through August 31, 2027, for the car wash facility and June 30, 2026, for the car-detailing property. The apartments are occupied on a month-to-month basis, and the property is identified within the North Av Sect zoning designation.
The properties are located at 1169–1181 East Broad St in Elizabeth City, at the corners of East Broad Street, Chestnut Street, and Walnut Street. Existing leases extend through August 31, 2027, for the car wash facility and June 30, 2026, for the car-detailing property. The apartments are occupied on a month-to-month basis, and the property is identified within the North Av Sect zoning designation.
Key Highlights
- 5,251‑square‑foot car wash facility; business not included
- 2,805‑square‑foot car‑detailing space with 3 drive‑in doors
- Two residential apartments: one 2‑bedroom unit and one studio
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
$136,684
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
9.11%
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%
$2,733,680
$2.7M
Cap Rate 7%
$1,952,629
$2.0M
Cap Rate 9%
$1,518,711
$1.5M
Market Conditions
NOI Build-Up for 8,057 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
$261.0K $32.40/SF
− Vacancy
−$12.5K −$1.56/SF
EGI
$248.5K $30.84/SF
− OpEx
−$111.8K −$13.88/SF
NOI
$136.7K $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 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%
$2,733,680
Cap Rate 7%
$1,952,629
Cap Rate 9%
$1,518,711
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,684 @ 7.0% cap · market cap 9.11%
Second Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $128,819 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,899 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,064
Businesses Nearby
200k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 35%
Apparel 13%
Electronics 4%
Wendy's
Dining
22,174 visits/mo
0.3 miles
McDonald's
Dining
17,774 visits/mo
0.4 miles
Shoppers World
Apparel
15,617 visits/mo
0.2 miles
BP
Shops & Services
15,037 visits/mo
0.3 miles
Wells Fargo
Shops & Services
14,988 visits/mo
0.2 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?
Mixed-use property - Two adjoining properties combine commercial operations with two residential apartments and leased occupancy.
Where is this mixed-use property located?
The property is located at 1169-1181 East Broad St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,251‑square‑foot car wash facility; business not included; 2,805‑square‑foot car‑detailing space with 3 drive‑in doors; Two residential apartments: one 2‑bedroom unit and one studio
