Mixed-Use Building with
For Sale
$1,199,000
459 Fulton St #1, Elizabeth, NJ 07206
Commercial zoning supports warehouse, retail, showroom, storage, and residential space within one multi-level property.
Property Size2,500 SF
Price / SF$479.60
Days on Market83
Property Features for 459 Fulton St #1
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Zoning
Commercial
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
2,500 SF
Amenities
rolling garage doors
1/2 bath
private office
Building Details
Building Size
2,500 SF
Buildings
1
Stories
4
Units
4
Listing Agency:
Serhant New Jersey LLC
(973) 921-1111
Listed By:
Massimo Chirichiello
(973) 921-1111
Source:
Betterhomerealestate
Added: Jun 9
Changed: Aug 29
Last Checked: Aug 29 at 4:35PM
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
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial space with three residential units across a multi-level building. The ground-floor 2,500 SF area includes 14' ceilings, rolling garage doors, a 1/2 bath, and a private office. Its flexible configuration is identified for retail, light industrial, showroom, or storage use. Commercial zoning applies to the property.
The upper levels contain two 1-bedroom apartments and an oversized two-story unit with 6 bedrooms and 2 baths. The larger residence includes an eat-in kitchen and two living rooms. Central air and in-unit laundry serve all residential units. The property is located at 459 Fulton St #1 in Elizabeth City, NJ 07206, with street visibility and potential for redevelopment or owner occupancy as described in the property information.
The upper levels contain two 1-bedroom apartments and an oversized two-story unit with 6 bedrooms and 2 baths. The larger residence includes an eat-in kitchen and two living rooms. Central air and in-unit laundry serve all residential units. The property is located at 459 Fulton St #1 in Elizabeth City, NJ 07206, with street visibility and potential for redevelopment or owner occupancy as described in the property information.
Key Highlights
- 2,500 SF ground‑floor commercial/warehouse area with 14' ceilings
- Rolling garage doors, 1/2 bath, and private office on the commercial level
- Three residential units: two 1‑bedroom apartments and one 6‑bedroom, 2‑bath unit
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
$47,628
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
3.97%
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%
$952,560
$952.6K
Cap Rate 7%
$680,400
$680.4K
Cap Rate 9%
$529,200
$529.2K
Market Conditions
NOI Build-Up for 2,500 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
$72.0K $28.80/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$68.0K $27.22/SF
− OpEx
−$20.4K −$8.16/SF
NOI
$47.6K $19.05/SF
Area
Elizabeth, NJ
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$952,560
Cap Rate 7%
$680,400
Cap Rate 9%
$529,200
Alternative Uses
Best Use
Multifamily LT 5
$680.4K
$595.4K – $793.8K
NOI $47,628 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$605.9K
$530.2K – $706.9K
NOI $42,412 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$926.0K
$810.2K – $1.08M
NOI $64,819 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,661
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning supports warehouse, retail, showroom, storage, and residential space within one multi-level property.
Where is this mixed-use property located?
The property is located at 459 Fulton St #1 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 area with 14' ceilings; Rolling garage doors, 1/2 bath, and private office on the commercial level; Three residential units: two 1‑bedroom apartments and one 6‑bedroom, 2‑bath unit
