Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    228-248 North Ave E Elizabeth, NJ 07201

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Available for sublease: a truck terminal with 54 doors.

    Property Features for 228-248 North Ave E

    General Information

    Standard status
    Active

    Building Details

    Year built
    1970

    We can help!

    Listing Contact
    Jason M. Crimmins
    Jason M. Crimmins
    Source: Crexi

    Listing Agent: Jason M. Crimmins

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Sublease Opportunity: Truck Terminal

    A truck terminal featuring approximately 54 doors is available for sublease.
    Location Intelligence

    Current Use by Public Records

    Truck terminals

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center Building Supply Hair Salon Nail Salon Gym & Fitness Center Pharmacy Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.1732371
    Latitude
    40.6675781

    Nearby Similar for Lease

    • New
      $1,900 /Mo

      Renovated Office Space in Elizabeth

      Move-in ready office space in Elmora section of Elizabeth.
      980 Dehart Pl, Elizabeth, NJ 07202
      View Details
    • $4,000 /Mo
      2,614 SF

      Elizabeth Avenue Storefront For Rent

      High-visibility retail or office space in Elizabeth's business district.
      905 Elizabeth Ave, Elizabeth, NJ 07201
      View Details
    • $5,880 /Mo

      Updated Office Space Near Station

      Spacious, updated office suite near Elizabeth Train Station.
      70 west Grand St, Elizabeth, NJ 07202
      View Details
    • $1,900 /Mo

      Renovated Office Space in Elizabeth

      Move-in ready office space suitable for various business operations.
      980 Dehart Pl, Elizabeth, NJ 07202
      View Details
    • $4,500 /Mo
      2,460 SF

      Versatile Commercial Building in Elizabeth

      2,724 SF commercial building with parking in high-visibility location.
      313 Rahway Ave, Elizabeth, NJ 07202
      View Details
    • $4,500 /Mo

      Versatile Elizabeth Commercial Building

      Three-level professional space with parking in a high-visibility location.
      313 Rahway Ave, Elizabeth, NJ 07202
      View Details
    • Contact for pricing
      26,697 SF

      Industrial Space Near Port Newark

      26,697 SF industrial space with convenient access to transportation.
      700 Dowd Ave, Elizabeth, NJ 07201
      View Details
    • $1,900 /Mo

      Renovated Office Space in Elizabeth

      Renovated office space with reception area and private rooms.
      546 Elizabeth Ave, Elizabeth, NJ 07206
      View Details
    • $2,800 /Mo

      Adaptable Commercial Space for Rent

      Open-concept commercial space suitable for retail, office, or service businesses.
      551 Westminster Ave, Elizabeth, NJ 07208
      View Details
    • Contact for pricing
      114,950 SF

      Industrial Space Near Port Elizabeth

      114,950 SF industrial space available October 1, 2026.
      10 North Ave East, Elizabeth, NJ 07201
      View Details
    • $2,500 /Mo

      Commercial Storefront in Midtown Elizabeth

      Versatile commercial space with high visibility and convenient location.
      944 Elizabeth Ave, Elizabeth, NJ 07201
      View Details
    • $500 /Mo
      9,148 SF

      Office Space in Downtown Elizabeth

      Office space for rent in a desirable downtown Elizabeth location.
      1137 E Jersey St, Elizabeth, NJ 07201
      View Details

    FAQs

    What type of property is this?
    Truck terminal - Available for sublease: a truck terminal with 54 doors.
    Where is this truck terminal located?
    The property is located at 228-248 North Ave E Elizabeth, NJ.
    What are key features of this property?
    This property features: - ±54-door terminal available for sublease; - Sublease opportunity; - Year built: 1970
    Request Owner's contact information
    228-248 North Ave E Elizabeth, NJ 07201
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    228-248 North Ave E
    Elizabeth, NJ 07201
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    228-248 North Ave E Elizabeth, NJ 07201
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason M. Crimmins
    Jason M. Crimmins
    Real Estate License ID: 9694872
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!