Building Details

Building Size 7,000 SF

Year Built 1999

Stories 1

Units 1

Listing Agency: Re/Max Lifetime Realtors Show Phone

Listed By: Monica I. Henriques · License #2563379 Show Phone

Source: Cammarotarealestate

Added: Sep 16 Changed: Oct 22 Last Checked: Oct 22 at 2:38PM

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Investment Insights

Based on property information with market context.

At 72 Prince St #2, this 7,000-square-foot auto shop is configured for body and collision work. The interior includes work space, an office and waiting area, plus storage. The property was built in 1999 and carries Commercial zoning.

The Elizabeth, New Jersey, facility has vehicle access and a layout that brings service, customer-facing, and storage areas together within one commercial building.

Key Highlights

• 7,000‑square‑foot auto body and collision facility
• Work areas, office and waiting space, and storage
• Vehicle access to the facility

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$78,653

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,573,060 $1.6M

Cap Rate 7%

$1,123,614 $1.1M

Cap Rate 9%

$873,922 $873.9K

What to ask about pricing

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$119.3K $17.04/SF

− Vacancy

−$6.9K −$0.99/SF

EGI

$112.4K $16.05/SF

− OpEx

−$33.7K −$4.82/SF

NOI

$78.7K $11.24/SF

Area

Elizabeth, NJ

Vacancy

5.80%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,573,060

Cap Rate 7%

$1,123,614

Cap Rate 9%

$873,922

Alternative Uses

Best Use

Retail

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,844 @ 7.0% cap · market cap 807.03%

Second Best

Industrial

$1.12M

$983.2K – $1.31M (±1% cap)

NOI $78,653 @ 7.0% cap · market cap 655.44%

Theoretical Best

Office A

$2.59M

$2.27M – $3.02M (±1% cap)

NOI $181,494 @ 7.0% cap · market cap 1,512.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Listo’s Multiservice Graphics Marketing & Advertising Charles Auto Body ... Auto Repair Shop Sol Lucet Enterprises Tax Preparation Sensational Productions Event Planning

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Veterinary Clinic Butcher Restaurant Pet Store Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,649

Businesses Nearby

178k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 42% Dining 41% Apparel 14% Electronics 4%

Wendy's Dining

22,174 visits/mo 0.2 miles

Shoppers World Apparel

15,617 visits/mo 0.4 miles

Wells Fargo Shops & Services

14,988 visits/mo 0.1 miles

Bank of America Shops & Services

14,767 visits/mo 0.5 miles

IHOP Dining

11,240 visits/mo 0.3 miles

Demographics for 07208, NJ

33,561

Population

12,958

Households

2.6

Avg Household Size

37

Median Age

21%

College-Educated

81%

High-School Grad

1.8 sq mi

ZIP Area

18,645

Density / Sq Mi

$61,873

Median Household Income

$36,373

Median Earnings

$1,364

Median Rent

$425,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Auto shop - The commercial facility combines vehicle work areas with office, customer waiting, and storage space.

Where is this auto shop located?

The property is located at 72 Prince St #2 Elizabeth, NJ.

What are key features of this property?

This property features: 7,000‑square‑foot auto body and collision facility; Work areas, office and waiting space, and storage; Vehicle access to the facility