Mixed-Use Building with
New
For Sale
$599,999
442 Elizabeth Ave, Elizabeth, NJ 07206
Multi-Family, 3-Three Story, Elizabeth City, NJ
Property Size3,483 SF
Lot Size0.09 Acres
Price / SF$172.27
Days on Market1
Property Features for 442 Elizabeth Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-2
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 2, Bedroom 1
Patio and Porch features
Deck
Interior features
Smoke Detector
Exterior features
Deck
Directions
S 5th St to Elizabeth AveRemarks
Standard status
Active
Size
3,483 SF
Lot size
0.09 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11032
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Buildings
1
Listing Agency:
KELLER WILLIAMS MID-TOWN DIRECT · Keller Williams Realty
Listed By:
MENACHEM SILBERMAN
(973) 762-5400
Added: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# 4060834
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.
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Investment Insights
Based on property information with market context.
This 3,483-square-foot mixed-use property occupies a 0.09-acre site and was built in 1910. The three-story layout includes a restaurant on the first floor, a two-bedroom apartment on the second, and a one-bedroom apartment on the third. Recent boiler installations are among the building’s improvements, and the property also has a deck.
The property is zoned C-2 and served by public sewer. Its mix of restaurant and residential space is arranged across three floors.
The property is zoned C-2 and served by public sewer. Its mix of restaurant and residential space is arranged across three floors.
Key Highlights
- 3,483‑square‑foot mixed‑use property on a 0.09‑acre site
- Three‑story layout with a first‑floor restaurant
- Second‑floor two‑bedroom apartment and third‑floor one‑bedroom apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,065
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$961,300
$961.3K
Cap Rate 7%
$686,643
$686.6K
Cap Rate 9%
$534,056
$534.1K
Market Conditions
NOI Build-Up for 3,483 SF
Gross rent
$83.6K $24.00/SF
− Vacancy
−$6.7K −$1.92/SF
EGI
$76.9K $22.08/SF
− OpEx
−$28.8K −$8.28/SF
NOI
$48.1K $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 Rate 5%
$961,300
Cap Rate 7%
$686,643
Cap Rate 9%
$534,056
Alternative Uses
Best Use
Apartment 5plus
$844.1K
$738.6K – $984.8K
NOI $59,088 @ 7.0% cap · market cap 9.85%
Second Best
Specialty Retail
$795.5K
$696.1K – $928.1K
NOI $55,688 @ 7.0% cap · market cap 9.28%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,306 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,725
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three levels combine ground-floor restaurant space with two residential apartments under C-2 zoning.
Where is this mixed-use property located?
The property is located at 442 Elizabeth Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 3,483‑square‑foot mixed‑use property on a 0.09‑acre site; Three‑story layout with a first‑floor restaurant; Second‑floor two‑bedroom apartment and third‑floor one‑bedroom apartment
