Mixed-Use Commercial and Residential
459 Fulton St, Elizabeth, NJ 07206
For Sale
$1,199,000
Ground-floor commercial/warehouse space with high ceilings and loading access pairs with three income residential units.
Property Size7,500 SF
Price / SF$159.87
Days on Market153
Property Features for 459 Fulton St
General Information
Standard status
Size
Property subtype
Additional Details
Clear Height
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Central Air Cooling
Building Details
Stories
Listing Agency:
SERHANT NEW JERSEY LLC
(973) 315-5959
Listed By:
MASSIMO CHIRICHIELLO
(973) 207-4885
Source:
Corcoran
Added: Jun 10
Changed: Aug 9
Last Checked: Aug 25 at 6:36AM
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 SERHANT NEW JERSEY LLC
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Investment Insights
Based on property information with market context.
This mixed-use property offers a ground-floor commercial/warehouse component and three residential units on the second and third floors. The ground level includes approximately 2,500 square feet of flexible space with 14-foot ceilings, rolling garage doors, a half bath, and a private office. The residential portion consists of two spacious 1-bedroom apartments and one oversized two-story 6-bedroom, 2-bath unit, with an eat-in kitchen and two living rooms. All residential units feature central air and in-unit laundry.
The building is described as having strong street visibility at 459 Fulton St in Elizabeth City, NJ, supporting commercial access and everyday visibility.
For tenants and buyers, the configuration supports a range of uses for the ground-floor space, including retail, light industrial, showroom, or storage, while the upper-floor units provide residential income potential. The property is listed for sale with no leases in place, and the existing month-to-month arrangements noted in the remarks can simplify transition planning for an owner-occupier or investor seeking operational control.
The building is described as having strong street visibility at 459 Fulton St in Elizabeth City, NJ, supporting commercial access and everyday visibility.
For tenants and buyers, the configuration supports a range of uses for the ground-floor space, including retail, light industrial, showroom, or storage, while the upper-floor units provide residential income potential. The property is listed for sale with no leases in place, and the existing month-to-month arrangements noted in the remarks can simplify transition planning for an owner-occupier or investor seeking operational control.
Key Highlights
- 2,500 SF ground‑floor commercial/warehouse space with 14' ceilings, rolling garage doors, half bath, and private office
- Includes three residential units: two 1‑bedroom apartments and one oversized 6‑bedroom, 2‑bath two‑story unit with eat‑in kitchen and two living rooms
- All units have central air and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,329
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,046,580
$2.0M
Cap Rate 7%
$1,461,843
$1.5M
Cap Rate 9%
$1,136,989
$1.1M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$127.8K $17.04/SF
− Vacancy
−$7.4K −$0.99/SF
EGI
$120.4K $16.05/SF
− OpEx
−$18.1K −$2.41/SF
NOI
$102.3K $13.64/SF
Area
Elizabeth, NJ
Vacancy
5.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,046,580
Cap Rate 7%
$1,461,843
Cap Rate 9%
$1,136,989
Alternative Uses
Best Use
Multifamily LT 5
$2.04M
$1.79M – $2.38M
NOI $142,884 @ 7.0% cap · market cap 11.92%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,235 @ 7.0% cap · market cap 10.61%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,458 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
14 ft
Clear height
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
Under-served
Demand for This Use
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
$339,200
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Union County, NJ
Properties on Market for Flex space in Union County
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Lydia's Heavenly Eats — 150 Park Pl, Elizabethport, NJ 07206
- UMUTfoodsupplier.com — 899 E Jersey St, New York, NJ 07201
Frequently Asked Questions
What type of property is this?
Flex space - Ground-floor commercial/warehouse space with high ceilings and loading access pairs with three income residential units.
Where is this flex space located?
The property is located at 459 Fulton St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 2,500 SF ground‑floor commercial/warehouse space with 14' ceilings, rolling garage doors, half bath, and private office; Includes three residential units: two 1‑bedroom apartments and one oversized 6‑bedroom, 2‑bath two‑story unit with eat‑in kitchen and two living rooms; All units have central air and in‑unit laundry
