Commercial Garage on Corner
231 Jefferson Ave Elizabeth, NJ 07201
231 Jefferson Ave, Elizabeth, NJ, 07201
$550,000
Pending
For Sale
$550,000
Pending
Commercial garage with high visibility, expansive parking, and updated exterior.
Property Size1,250 SF
Days on Market216
Property Features for 231 Jefferson Ave
General Information
- Standard status
- Pending
- Size
- 1,250 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 9999
Listing Agency
KYM REALTY GROUP LLC
(908) 991-3912
Listed by
MILAGROS ALVAREZ · License #298659
Source
Corcoran
Added: Dec 16, 2025 Checked: Jul 19 at 4:40 am
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 commercial garage is situated on a high-visibility corner lot in Elizabeth. The property, currently operating as an auto repair shop, features 16-foot ceilings and one overhead door. An expansive parking lot provides space for over 20 vehicles. The exterior of the building has been recently updated. The property is conveniently located near major highways, shopping, public transportation, and Newark Liberty International Airport. The property size is 1250 square feet.
Key Highlights
- High‑visibility corner lot location
- Expansive parking lot with space for 20+ vehicles
- Features 16‑ft ceilings
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.0k | $21.60 |
| − Vacancy | −$2.3k | −$1.84 |
| EGI | $24.7k | $19.76 |
| − OpEx | −$7.4k | −$5.93 |
| NOI | $17.3k | $13.83 |
1,250 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$247.1K
$216.2K – $288.2K
NOI $17,294 @ 7.0% cap · market cap 3.14%
Second Best
Industrial
$200.6K
$175.6K – $234.1K
NOI $14,045 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$463.0K
$405.1K – $540.2K
NOI $32,410 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Tecnaut Auto Body — 903 E Grand St, Elizabeth, NJ 07201
- MTS Auto Body — 903 E Grand St, Elizabeth, NJ 07201
- Jerry's auto body — 961 William St, Elizabeth, NJ 07201
- Guevaras Truck Repair — 762 york st, elizabeth, nj 07201
- Elizabeth Towing & Junk Free Removal Co — 79 broad st, elizabeth, nj 07201
FAQs
What type of property is this?
Auto shop - Commercial garage with high visibility, expansive parking, and updated exterior.
Where is this auto shop located?
The property is located at 231 Jefferson Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: High‑visibility corner lot location; Expansive parking lot with space for 20+ vehicles; Features 16‑ft ceilings
