Mixed-Use Corner Property For
For Sale
$1,099,000
400 E Jersey St, Elizabeth, NJ 07206
Fully rented 6-unit mixed-use corner property with stores and apartments.
Property Size5,000 SF
Days on Market117
Property Features for 400 E Jersey St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$27,566
Building Details
Building Size
5,000 SF
Year Built
9999
Stories
3
Units
5
Listing Agency:
Elite Realtors of New Jersey
(973) 994-9009
Listed By:
CESAR LANDIVAR
Source:
Elliman
Added: Apr 15
Changed: Aug 7
Last Checked: Aug 9 at 9:00AM
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 is a fully rented, 6-unit mixed-use corner property featuring a combination of commercial and residential spaces. The property includes 3 stores and 3 apartments. A Chinese restaurant occupies space and a 3rd-floor apartment, paying $4182. A members club pays $1100, and a barber shop pays $1500. The second-floor 3-bedroom apartment is rented for $1900, and the ground-level 2-bedroom apartment generates $1075. Most of the tenants are on month-to-month leases. The property's taxes are $28,000, and the water bill is $8200. The location has a bike score of 53, indicating it is bikeable. The walk score is 84, signifying it is very walkable, and the transit score is 58, showing good transit options.
Key Highlights
- Fully rented 6‑unit mixed‑use corner property provides immediate income.
- Diverse tenant mix includes 3 stores and 3 apartments.
- Strong walk score of 84 indicates high walkability.
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
$84,823
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
7.72%
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%
$1,696,460
$1.7M
Cap Rate 7%
$1,211,757
$1.2M
Cap Rate 9%
$942,478
$942.5K
Market Conditions
NOI Build-Up for 5,000 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
$162.0K $32.40/SF
− Vacancy
−$7.8K −$1.56/SF
EGI
$154.2K $30.84/SF
− OpEx
−$69.4K −$13.88/SF
NOI
$84.8K $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%
$1,696,460
Cap Rate 7%
$1,211,757
Cap Rate 9%
$942,478
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,823 @ 7.0% cap · market cap 7.72%
Second Best
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,638 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,461
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully rented 6-unit mixed-use corner property with stores and apartments.
Where is this mixed-use property located?
The property is located at 400 E Jersey St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Fully rented 6‑unit mixed‑use corner property provides immediate income.; Diverse tenant mix includes 3 stores and 3 apartments.; Strong walk score of 84 indicates high walkability.
