Mixed-Use Building with
For Sale
$625,000
Pending
335 Elizabeth Ave, Elizabeth, NJ 07206
Mixed-use building featuring retail and residential units.
Property Size3,166 SF
Days on Market139
Property Features for 335 Elizabeth Ave
General Information
Standard status
Pending
Size
3,166 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,242
Building Details
Building Size
3,166 SF
Year Built
1915
Stories
3
Units
3
Listing Agency:
Real Broker LLC
(908) 516-4790
Listed By:
ALEKSANDAR RISTOVIC
Source:
Elliman
Added: Apr 15
Changed: Aug 14
Last Checked: Aug 30 at 9:17PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This mixed-use building presents an investment or owner-user opportunity. The property consists of three units. The ground floor is designed for retail or commercial use and is currently configured as a restaurant. The second and third floors each contain a residential unit, each featuring four bedrooms and one bathroom. The location has a walk score of 84, indicating it is very walkable, a bike score of 53, indicating it is bikeable, and a transit score of 58, indicating good transit options.
Key Highlights
- Mixed‑use building: Retail/Commercial space on the ground floor with residential units above.
- Two residential units: Each featuring 4 bedrooms and 1 bathroom.
- Excellent walkability: A walk score of 84 indicates a 'Very Walkable' location.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,691
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$873,820
$873.8K
Cap Rate 7%
$624,157
$624.2K
Cap Rate 9%
$485,456
$485.5K
Market Conditions
NOI Build-Up for 3,166 SF
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.
Gross rent
$76.0K $24.00/SF
− Vacancy
−$6.1K −$1.92/SF
EGI
$69.9K $22.08/SF
− OpEx
−$26.2K −$8.28/SF
NOI
$43.7K $13.80/SF
Area
Elizabeth, NJ
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$873,820
Cap Rate 7%
$624,157
Cap Rate 9%
$485,456
Alternative Uses
Best Use
Mixed Use
$624.2K
$546.1K – $728.2K
NOI $43,691 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,087 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,540
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building featuring retail and residential units.
Where is this mixed-use property located?
The property is located at 335 Elizabeth Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Mixed‑use building: Retail/Commercial space on the ground floor with residential units above.; Two residential units: Each featuring 4 bedrooms and 1 bathroom.; Excellent walkability: A walk score of 84 indicates a 'Very Walkable' location.
