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Elizabethport Mixed-Use Investment Opportunity

261 2nd St Elizabeth, NJ 07206

261 2nd St, Elizabeth, NJ, 07206

$1,300,000

For Sale

$1,300,000

High-visibility corner property with three income-generating units in revitalizing area.

Property Size6,425 SF

Price / SF$202.33

AddedMay 28, 2025

Days on Market415

Last RefreshJul 16 at 4:44 am

Property Features for 261 2nd St

General Information

Standard status: Active
Size: 6,425 SF

Building Details

Year Built: 9999

Listing office RE/MAX NEW MILLENNIUM GROUP

Listing date May 28, 2025

Source Corcoran

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 NEW MILLENNIUM GROUP

Investment Insights

Based on property information with market context.

This mixed-use property is located in Elizabethport, a growing area near the waterfront and major transportation. The corner property features three income-generating units. There are two commercial storefronts and a 2-bedroom residential apartment. The commercial units are currently leased and operating as a restaurant and a liquor store. The upstairs 2-bedroom apartment has a private entrance. The property is located in a prime corner location with high visibility and foot traffic. The property is 6425 square feet.

Key Highlights

Three income‑generating units: two commercial storefronts (restaurant and liquor store) and a 2‑bedroom apartment.
Prime corner location with high visibility and steady foot traffic.
Turnkey asset in a revitalizing area of Elizabethport.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$146.5k	$22.80
− Vacancy	−$9.5k	−$1.48
EGI	$137.0k	$21.32
− OpEx	−$34.2k	−$5.33
NOI	$102.7k	$15.99

6,425 SF · lease $22.80/SF/yr · vacancy 6.50% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.47M

$1.28M – $1.71M (±1% cap)

NOI $102,726 @ 7.0% cap · market cap 7.90%

Second Best

Retail

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,889 @ 7.0% cap · market cap 6.84%

Theoretical Best

Office A

$2.38M

$2.08M – $2.78M (±1% cap)

NOI $166,585 @ 7.0% cap · market cap 12.81%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Western Union Bank Second Street Liquors (Bike/Boat/Book/etc) Store LibertyX Bitcoin ATM Atm

Suggested Use

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What type of property is this?

Mixed-use property - High-visibility corner property with three income-generating units in revitalizing area.

Where is this mixed-use property located?

The property is located at 261 2nd St 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: Three income‑generating units: two commercial storefronts (restaurant and liquor store) and a 2‑bedroom apartment.; **Prime corner location with high visibility and steady foot traffic.**; Turnkey asset in a revitalizing area of Elizabethport.