Three-Story Residential Income
For Sale
$999,995
725 Elizabeth Ave Unit 2, Newark, NJ 07112
Three-story residential income property with a gas water heater and corner positioning on Elizabeth Avenue.
Property Size3,000 SF
Price / SF$333.33
Days on Market50
Property Features for 725 Elizabeth Ave Unit 2
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
HOMELAND EMMANUEL OKOYE REALTY
Listed By:
EMMANUEL OKOYE · License #8935772
(201) 233-6756
Source:
Goldstandardrealty
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 8 at 4:40AM
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 HOMELAND EMMANUEL OKOYE REALTY
Investment Insights
Based on property information with market context.
This residential income property presents a three-story configuration and was built in 1950. The property includes a gas water heater and is identified at 725 Elizabeth Avenue in Newark City, New Jersey.
The property is positioned at the corner of Elizabeth Avenue and Vasar. Access directions reference Route 78, Lyons Avenue, Elizabeth Avenue, and Bergen Street, providing a defined route to the address.
The property is positioned at the corner of Elizabeth Avenue and Vasar. Access directions reference Route 78, Lyons Avenue, Elizabeth Avenue, and Bergen Street, providing a defined route to the address.
Key Highlights
- Three‑story residential income property
- Built in 1950
- Gas water heater
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
$46,412
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
4.64%
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%
$928,240
$928.2K
Cap Rate 7%
$663,029
$663.0K
Cap Rate 9%
$515,689
$515.7K
Market Conditions
NOI Build-Up for 3,000 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
$88.9K $29.64/SF
− Vacancy
−$4.5K −$1.51/SF
EGI
$84.4K $28.13/SF
− OpEx
−$38.0K −$12.66/SF
NOI
$46.4K $15.47/SF
Area
Newark, NJ
Vacancy
5.10%
Lease Rate
$29.64 /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%
$928,240
Cap Rate 7%
$663,029
Cap Rate 9%
$515,689
Alternative Uses
Best Use
Apartment 5plus
$663.0K
$580.2K – $773.5K
NOI $46,412 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$930.1K – $1.24M
NOI $74,406 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 07112, NJ
29,773
Population
11,779
Households
2.5
Avg Household Size
34
Median Age
18%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
21,266
Density / Sq Mi
$55,171
Median Household Income
$35,709
Median Earnings
$1,334
Median Rent
$306,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-story residential income property with a gas water heater and corner positioning on Elizabeth Avenue.
Where is this residential income property located?
The property is located at 725 Elizabeth Ave Unit 2 Newark, NJ.
What is the asking price?
The asking price for this property is $999,995.
What are key features of this property?
This property features: Three‑story residential income property; Built in 1950; Gas water heater
