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    717 New Point Rd Elizabeth, NJ 07201-2861

    Sponsored
    For Sale
    $1,990,000

    13,000 SF, Liquor License Included

    Property size:
    13,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 13,000 square foot commercial property, located at 717 New Point Rd in Elizabeth City, New Jersey (zip code 07201-2861), presents a unique investment opportunity. The asking price is $1,990,000 and includes a valuable liquor license. The property, operating as Club Cubano de Elizabeth since 1978, has undergone significant renovations. A 1979 remodel was followed by a 1988 expansion that added a new kitchen, two bathrooms, two smaller private rooms, additional storage, a second-floor bar, and a partially finished basement. The roof was also repaired during this expansion. The property boasts central air conditioning units with forced air, and the kitchen equipment, ice machine, beer coolers are all in working condition. An outdoor bar and lounge area enhance the property's appeal. Ample parking is available for 20 or more cars. The sale is as-is. Access is via Division Street or Elizabeth Avenue to New Point Road. This property offers significant potential for a variety of commercial uses.

    Property Features for 717 New Point Rd

    General Information

    Property type
    Land
    Square Feet
    13,000 SF

    HighLights

    • $1,990,000 asking price.
    • 13,000 square foot lot, Special Purpose Commercial land.
    • Located at 717 New Point Rd, Elizabeth City, NJ 07201.
    • Includes a liquor license.
    • Property sold as‑is.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Gym & Fitness Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.200903
    Latitude
    40.6591429

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    FAQs

    What type of property is this?
    Land - 13,000 SF, Liquor License Included
    Where is this land located?
    The property is located at 717 New Point Rd Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: $1,990,000 asking price.; 13,000 square foot lot, Special Purpose Commercial land.; Located at 717 New Point Rd, Elizabeth City, NJ 07201.
    Request Owner's contact information
    717 New Point Rd Elizabeth, NJ 07201-2861
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    Elizabeth, NJ 07201-2861
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    Realmo Value Estimation

    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.

    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.

    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
    717 New Point Rd Elizabeth, NJ 07201-2861
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