Turn-Key Mixed-Use
62 3RD ST Unit 3 Elizabeth, NJ 07206
62 3RD ST Unit 3, Elizabeth, NJ, 07206
$975,000
For Sale
$975,000
Fully renovated three-unit building with street-level commercial space plus two residential apartments, one leased and one ready.
Property Size2,695 SF
Price / SF$361.78
Days on Market116
Property Features for 62 3RD ST Unit 3
General Information
- Standard status
- Active
- Size
- 2,695 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 2026
Listing agency
BURGOS REALTY COMPANY
(973) 337-6475
Listed by
JOSEPH BURGOS · License #9909181
Source
Xome
Added: Mar 28 Updated: Jul 20 at 5:23PM Checked: Jul 21 at 3:04AM
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 BURGOS REALTY COMPANY
Investment Insights
Based on property information with market context.
Turn-key, fully renovated mixed-use building configured as three separate units. The property includes one street-level commercial space currently leased to a mobile business, along with two residential apartments. One apartment is tenant-occupied, and the other is tenant-ready.
The building is described as well-maintained and located near major transportation, shopping, and local amenities in Elizabeth.
For sale as a complete income-producing package, the layout provides an immediate leased commercial component and residential flexibility with one unit ready for occupancy.
The building is described as well-maintained and located near major transportation, shopping, and local amenities in Elizabeth.
For sale as a complete income-producing package, the layout provides an immediate leased commercial component and residential flexibility with one unit ready for occupancy.
Key Highlights
- Fully renovated three‑unit mixed‑use building with street‑level commercial space plus two residential apartments
- Commercial space is currently leased to a mobile business
- Two residential apartments: one tenant‑occupied and one tenant‑ready
Local Financial Insights For Multifamily LT 5
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 | $77.6k | $28.80 |
| − Vacancy | −$4.3k | −$1.58 |
| EGI | $73.3k | $27.22 |
| − OpEx | −$22.0k | −$8.16 |
| NOI | $51.3k | $19.05 |
2,695 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.8K – $855.7K
NOI $51,343 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$653.1K
$571.5K – $762.0K
NOI $45,720 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$998.2K
$873.4K – $1.16M
NOI $69,875 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Metro by T-Mobile
Mobile Phone Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully renovated three-unit building with street-level commercial space plus two residential apartments, one leased and one ready.
Where is this mixed-use property located?
The property is located at 62 3RD ST Unit 3 Elizabeth, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Fully renovated three‑unit mixed‑use building with street‑level commercial space plus two residential apartments; Commercial space is currently leased to a mobile business; Two residential apartments: one tenant‑occupied and one tenant‑ready
