Elizabethport Mixed-Use Investment
For Sale
$1,300,000
261 2nd St, Elizabeth, NJ 07206
High-visibility corner property with three income-generating units in revitalizing area.
Property Size6,425 SF
Price / SF$202.33
Days on Market505
Property Features for 261 2nd St
General Information
Standard status
Active
Size
6,425 SF
Taxes and HOA fees
Annual Taxes
$16,640
Listing Agency:
RE/MAX NEW MILLENNIUM GROUP
Listed By:
JOAO A PEREIRA · License #263022
(908) 451-9230
Source:
Corcoran
Added: May 28, 2025
Changed: Mar 16
Last Checked: Oct 12 at 7:52PM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,726
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,054,520
$2.1M
Cap Rate 7%
$1,467,514
$1.5M
Cap Rate 9%
$1,141,400
$1.1M
Market Conditions
NOI Build-Up for 6,425 SF
Gross rent
$146.5K $22.80/SF
− Vacancy
−$9.5K −$1.48/SF
EGI
$137.0K $21.32/SF
− OpEx
−$34.2K −$5.33/SF
NOI
$102.7K $15.99/SF
Area
Elizabeth, NJ
Vacancy
6.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,054,520
Cap Rate 7%
$1,467,514
Cap Rate 9%
$1,141,400
Alternative Uses
Best Use
Specialty Retail
$1.47M
$1.28M – $1.71M
NOI $102,726 @ 7.0% cap · market cap 7.90%
Second Best
Retail
$1.27M
$1.11M – $1.48M
NOI $88,889 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,585 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,071
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
18,766 visits/mo
0.2 miles
Family Dollar
Shops & Services
9,015 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
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.
