Retail Storefront with ATM
503 Elizabeth Avenue Elizabeth, NJ 07206
For Sale
Under Contract
$899,000
COMMERCIAL - Elizabeth, NJ
Property Size2,400 SF
Price / SF$374.58
Days on Market2821
Property Features for 503 Elizabeth Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MIXED
Interior features
Refrigeration
Appliances
Refrigeration
Standard status
Active Under Contract
Size
2,400 SF
Taxes and HOA fees
Tax Year
2018
Tax Annual Amount
9454
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Flooring type
Tile
Building materials
Stucco, Wood Siding
Roof type
Flat
Listing Agency:
SUPREME REALTY C-21
(908) 272-8337 x37
Listed By:
Luis Pupo
(908) 272-8337 x37
Added: Nov 7, 2018
Changed: Jul 13
Last Checked: Jul 29 at 5:06AM
MLS# 1910770
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail storefront business and building package includes 27 refrigerator door fronts, computer systems, a security monitoring system, and both a lottery machine and ATM access. The offering also includes an additional finished basement space of approximately 1,800 square feet. Approved building plans are included for a potential second-floor apartment buildout.
The property is located at 503 Elizabeth Avenue in Elizabeth, New Jersey, in a MIXED zoning setting. The combination of retail operations and approved plans for residential space supports multiple uses within the same building under the included documentation.
All details provided here are based on the current listing remarks regarding the included equipment and approved plans.
The property is located at 503 Elizabeth Avenue in Elizabeth, New Jersey, in a MIXED zoning setting. The combination of retail operations and approved plans for residential space supports multiple uses within the same building under the included documentation.
All details provided here are based on the current listing remarks regarding the included equipment and approved plans.
Key Highlights
- Business/building combo on Elizabeth Ave includes lottery machine and ATM access
- Modern business setup includes 27 refrigerator door fronts plus computer systems and security monitoring
- Includes an additional 1,800 sq ft finished basement
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.8k | $21.60 |
| − Vacancy | −$4.4k | −$1.84 |
| EGI | $47.4k | $19.76 |
| − OpEx | −$14.2k | −$5.93 |
| NOI | $33.2k | $13.83 |
2,400 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$888.9K
$777.8K – $1.04M
NOI $62,226 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront business includes refrigerator door fronts, security monitoring, lottery machine, and an additional finished basement.
Where is this storefront property located?
The property is located at 503 Elizabeth Avenue Elizabeth, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Business/building combo on Elizabeth Ave includes lottery machine and ATM access; Modern business setup includes 27 refrigerator door fronts plus computer systems and security monitoring; Includes an additional 1,800 sq ft finished basement
