Office Building with Open
9 Morrell St Elizabeth, NJ 07201
9 Morrell St, Elizabeth, NJ, 07201
$699,000
For Sale
$699,000
3,000-sq-ft office building featuring an open hall layout and large bathrooms for flexible interior use.
Property Size3,000 SF
Price / SF$233
Days on Market22
Property Features for 9 Morrell St
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 9999
Listing agency
Lim Bances Realty
(973) 232-5187
Listed by
LIM BANCES · License #1643967
Source
Elliman
Added: Jul 1 Updated: Jul 21 at 9:10PM Checked: Jul 21 at 9:10PM
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 Lim Bances Realty
Investment Insights
Based on property information with market context.
This office building offers a spacious interior arranged around an open hall layout, suited for a range of commercial activities. The space includes large bathrooms and substantial interior volume for accommodating day-to-day operations and hosting private business functions.
Located at 9 Morrell St in Elizabeth, the property is described as being near local restaurants and surrounding amenities, with access to transportation options. Bike, walk, and transit scores provided with the listing are 51 (Bikeable), 88 (Very Walkable), and 60 (Good Transit), respectively.
The offering is presented with low taxes in the listing materials, supporting its use as both an operational office space and a potential investment consideration.
Located at 9 Morrell St in Elizabeth, the property is described as being near local restaurants and surrounding amenities, with access to transportation options. Bike, walk, and transit scores provided with the listing are 51 (Bikeable), 88 (Very Walkable), and 60 (Good Transit), respectively.
The offering is presented with low taxes in the listing materials, supporting its use as both an operational office space and a potential investment consideration.
Key Highlights
- 3,000‑sq‑ft commercial office building with an open hall layout for flexible use
- Large bathrooms and generous interior space to support events, meetings, and business uses
- Convenient Elizabeth location near restaurants and transportation
Local Financial Insights For Office B
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 | $86.4k | $28.80 |
| − Vacancy | −$15.1k | −$5.04 |
| EGI | $71.3k | $23.76 |
| − OpEx | −$17.8k | −$5.94 |
| NOI | $53.5k | $17.82 |
3,000 SF · lease $28.80/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$763.7K
$668.3K – $891.0K
NOI $53,460 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$972.3K – $1.30M
NOI $77,783 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tu Sello Latino
Association Or Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 3,000-sq-ft office building featuring an open hall layout and large bathrooms for flexible interior use.
Where is this office building located?
The property is located at 9 Morrell St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,000‑sq‑ft commercial office building with an open hall layout for flexible use; Large bathrooms and generous interior space to support events, meetings, and business uses; Convenient Elizabeth location near restaurants and transportation
