Elizabethport Mixed-Use Investment
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
Days on Market416
Property Features for 261 2nd St
General Information
- Standard status
- Active
- Size
- 6,425 SF
Building Details
- Year Built
- 9999
Listing Agency
RE/MAX NEW MILLENNIUM GROUP
(908) 451-9230
Listed by
JOAO A PEREIRA · License #457804
Source
Corcoran
Added: May 28, 2025 Checked: Jul 17 at 4:04 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 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
- 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 | $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
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 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
Similar For Sale Nearby
FAQs
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.
