Three-Story Residential Income
For Sale
$779,000
504 Bond St, Elizabeth, NJ 07206
Residentially zoned property with natural gas service, a gas water heater, and a walk-in closet.
Property Size2,100 SF
Price / SF$370.95
Days on Market110
Property Features for 504 Bond St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Residential Income
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$8,987
Amenities
Natural Gas
Unfinished
Gas Water Heater
Walk-In Closet(s)
3-Three Story
Building Details
Year Built
1931
Stories
3
Listing Agency:
(908) 583-4402
Listed By:
RICHARD CAPAC
(908) 583-4402
Source:
Evrealestate
Added: May 6
Changed: Aug 15
Last Checked: Aug 23 at 4:48AM
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 RICHARD CAPAC
Investment Insights
Based on property information with market context.
This residential income property at 504 Bond St in Elizabeth City, New Jersey, is arranged across three stories and was built in 1931. The interior includes natural gas service, a gas water heater, an unfinished area, and a walk-in closet. Residential zoning supports its classification as a residential income asset.
The property is situated in Union County between E 6th St and 5th St. Its recorded property-size figure is 2,100, while the available information does not further identify the unit count or layout.
The property is situated in Union County between E 6th St and 5th St. Its recorded property-size figure is 2,100, while the available information does not further identify the unit count or layout.
Key Highlights
- Three‑story residential income property
- Built in 1931
- Residential zoning
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
$35,626
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
4.57%
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%
$712,520
$712.5K
Cap Rate 7%
$508,943
$508.9K
Cap Rate 9%
$395,844
$395.8K
Market Conditions
NOI Build-Up for 2,100 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
$68.0K $32.40/SF
− Vacancy
−$3.3K −$1.56/SF
EGI
$64.8K $30.84/SF
− OpEx
−$29.1K −$13.88/SF
NOI
$35.6K $16.96/SF
Area
Elizabeth, NJ
Vacancy
4.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
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%
$712,520
Cap Rate 7%
$508,943
Cap Rate 9%
$395,844
Alternative Uses
Best Use
Apartment 5plus
$508.9K
$445.3K – $593.8K
NOI $35,626 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$777.8K
$680.6K – $907.5K
NOI $54,448 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,314
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Residentially zoned property with natural gas service, a gas water heater, and a walk-in closet.
Where is this residential income property located?
The property is located at 504 Bond St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Three‑story residential income property; Built in 1931; Residential zoning
