Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Elizabeth Commercial Space Available Title is generated by Realmo AI

    324 2nd St, Elizabeth, NJ 07206

    View on Map
    Claim this Listing
    For Lease
    $5,000/Mo $17 SF/Yr (calc)

    Commercial - Elizabeth City, NJ

    Property size:
    3,500 SF
    Lot size:
    0.06 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    46
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 324 2nd St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commerical
    Rooms
    Basement
    Parking features
    Parking Lot
    Basement Y/N
    1
    Standard status
    Active
    Size
    3,500 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    16771

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1965
    Building materials
    Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    GRISELA FLORES
    GRISELA FLORES

    Listing agent GRISELA FLORES

    Listing office FLOROSTONE REALTY INC. 429 CHESTNUT STREET, Roselle, NJ

    Listing date Apr 7, 2026

    MLS# 4018964 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Elizabeth location with high visibility in a busy area.
    • 3,500 sq ft open‑concept space suitable for restaurants, bars, retail, or office use.
    • Parking for up to 30 vehicles.
    • Flexible lease terms available.
    • White shell or built‑to‑suit options.
    • Conveniently located 5 minutes from Newark Liberty International Airport and Jersey Gardens Mall.

    Overview

    This commercial space, located in a prime area of Elizabeth City, New Jersey, offers 3,500 square feet of open-concept space suitable for restaurants, bars, retail establishments, or office use. The property features flexible lease terms and options for a white shell or a built-to-suit design. Parking is available for up to 30 vehicles. The location provides high visibility in a busy area and is conveniently situated 5 minutes from Newark Liberty International Airport and Jersey Gardens Mall. The property is zoned for commercial use and is situated on a lot of 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.18054
    Latitude
    40.65492

    Nearby Similar for Lease

    • $1,900/Mo

      Renovated Office Space in Elizabeth

      Move-in ready office space in Elmora section of Elizabeth.
      980 DEHART PL, ELIZABETH, NJ 07202
      View Details
    • $4,500/Mo

      Elizabeth Office/Retail Space Available

      Versatile commercial building with parking in high-visibility Elizabeth corridor.
      313 17 RAHWAY AVE, ELIZABETH, NJ 07202-3704
      View Details
    • $4,000/Mo

      Prime Corner Retail Storefront

      Remodeled retail storefront with high visibility and foot traffic.
      261-263 Elizabeth Ave, Elizabeth City, NJ 07206-1634
      View Details
    • $5,000/Mo
      3,500 SF

      Prime Elizabeth Commercial Space

      3,500 sq ft open space for restaurant, retail, office.
      324 2nd St, Elizabeth City, NJ 07206
      View Details
    • $4,000/Mo

      Warehouse Space in Elizabeth City

      Prime warehouse space in a sought-after industrial corridor.
      453 Spring St, Elizabeth City, NJ 07201-1944
      View Details
    • $4,000/Mo

      Elizabeth Avenue Storefront For Rent

      High-visibility retail or office space in Elizabeth's business district.
      905 Elizabeth Ave, Elizabeth City, NJ 07201-2710
      View Details
    • $4,500/Mo
      2,460 SF

      Versatile Commercial Building in Elizabeth

      2,724 SF commercial building with parking in high-visibility location.
      313 17 Rahway Ave, Elizabeth City, NJ 07202
      View Details
    • $4,500/Mo
      2,724 SF

      Versatile Elizabeth Commercial Building

      Three-level professional space with parking in a high-visibility location.
      313 17 RAHWAY AVE, ELIZABETH, NJ 07202-3704
      View Details
    • $25 SF/Yr
      21,816 SF

      Medical/Office Building For Lease

      Four-story medical/office building in established neighborhood near Trinitas Regional Medical Center.
      228-230 West Jersey Street, Elizabeth, NJ 07202
      View Details
    • $2,850/Mo
      1,200 SF

      Elizabeth Retail Space For Rent

      Retail space in prime Elizabeth location, suitable for various businesses.
      701 Elizabeth Ave, Elizabeth City, NJ 07201
      View Details
    • $2,700/Mo
      1,000 SF

      Storefront for Lease on Fulton

      Storefront for lease with high ceilings and full bathroom.
      500 Fulton St, Elizabeth City, NJ 07206
      View Details
    • $2,100/Mo
      1,037 SF

      Renovated Retail Space Available

      Recently renovated retail space in Elizabeth's 'The Point' section.
      162 5Th St, Elizabeth City, NJ 07206
      View Details

    FAQs

    What type of property is this?
    Retail space - 3,500 sq ft open space for restaurant, retail, or office.
    Where is this retail space located?
    The property is located at 324 2nd St Elizabeth, NJ.
    What is the lease rate?
    The lease rate is $5,000 /Mo.
    What are key features of this property?
    This property features: Prime Elizabeth location with high visibility in a busy area.; **3,500 sq ft open‑concept space suitable for restaurants, bars, retail, or office use.**; Parking for up to 30 vehicles.
    (908) 445-5339
    We can help!
    Listing Contact
    GRISELA FLORES
    GRISELA FLORES
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    324 2nd St, Elizabeth City, NJ 07206-2118
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!