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

    645 Magnolia Ave Elizabeth, NJ 7206

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Three-unit mixed-use building with a restaurant and two apartments.

    Type:Special Purpose, Land
    Property size:
    5,600 SF
    Price / SF:
    $107/SF
    Added:
    Aug 16, 2024
    Days on Market:
    614
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 645 Magnolia Ave

    General Information

    Standard status
    Active
    Size
    5,600 SF
    Property subtype
    Special Purpose, Land

    We can help!

    Listing Contact
    Douglas Ramos

    Listing agent Douglas Ramos License #NJ

    Listing office CENTURY 21 Alliance Realty

    Listing date Aug 16, 2024

    Source Crexi

    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 CENTURY 21 Alliance Realty

    Overview

    Mixed-Use Building with Restaurant

    Located on the corner of Magnolia Avenue and Trumbull Street, this mixed-use building features a restaurant and two apartments. The restaurant has seating for 75 people. The two apartments, situated on the Trumbull Street side of the building, each have two bedrooms and were renovated in 2006. The sale includes all appliances, fixtures, furniture, and refrigeration units. The property is being sold in "as is" condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.1940044
    Latitude
    40.6612103

    Nearby Similar for Sale

    • $450,000
      3,500 SF

      Turnkey Bar and Restaurant Opportunity

      Established bar and restaurant with liquor license and parking.
      1109 Elizabeth Ave, Elizabeth City, NJ 07201-2497
      View Details
    • $899,900
      9,999 SF

      Lounge, Tavern & Banquet Hall

      Multi-level entertainment and dining venue in Elizabeth City, NJ.
      264 N Broad St, Elizabeth City, NJ 07208-3701
      View Details
    • $189,000
      1,300 SF

      Turn-Key Restaurant in Elizabeth, NJ

      Operational restaurant with strong financials and growth potential in New Jersey.
      649 Elizabeth Ave, Elizabeth City, NJ 07206-2721
      View Details
    • $899,000
      3,488 SF

      Renovated Four-Family Investment Property

      Fully renovated four-family property in Elizabeth City with strong rental appeal.
      33-35 Delaware Street, Elizabeth City, NJ 07206
      View Details
    • $699,000
      3,917 SF

      Spacious Multi-Family Home Near Amenities

      Two-family home with spacious units, bonus attic, and private backyard.
      27 Jacques St, Elizabeth City, NJ 07201-2712
      View Details
    • $699,900
      3,600 SF

      Two-Unit Commercial Building For Sale

      Two-unit commercial building with versatile space and rear parking.
      506 Elizabeth Ave, Elizabeth City, NJ 07206-1104
      View Details
    • $1,369,900

      Mixed-Use Property on Elmora Avenue

      Mixed-use property in Elizabeth, NJ with commercial space and apartment.
      376 Elmora Ave, Elizabeth City, NJ 07208-1561
      View Details
    • $899,000

      Modern Two-Family Home, Built 2022

      Newer construction multi-family in prime location with strong rental income.
      558 Broadway, Elizabeth City, NJ 07206
      View Details
    • $799,900
      3,180 SF

      Mixed-Use Property with Auto Shop

      Mixed-use property featuring an apartment, auto body shop, and dealership.
      539 S 5Th St, Elizabeth City, NJ 07206-1012
      View Details
    • $775,000
      2,633 SF

      Spacious Three-Story Multi-Family Home

      Three-story home with versatile space and income potential.
      139 Inslee Pl, Elizabeth City, NJ 07206-2154
      View Details
    • $1,199,000
      5,000 SF

      Mixed-Use Corner Property For Sale

      Fully rented mixed-use corner property available in Elizabeth City.
      400 E Jersey St, Elizabeth City, NJ 07206-1306
      View Details
    • $575,000

      Spacious Two-Family Property in Elizabeth

      Two-family property with finished attic and walkout basement in Elizabeth.
      1024 Julia Street, Elizabeth, NJ 07201
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Three-unit mixed-use building with a restaurant and two apartments.
    Where is this mixed-use property located?
    The property is located at 645 Magnolia Ave Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Three‑unit mixed‑use commercial building (restaurant and two apartments).; Restaurant with seating for 75 people. Includes all appliances, fixtures, furniture, and refrigeration units.; Two apartments, each with two bedrooms.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Douglas Ramos
    Real Estate License ID: NJ
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!