Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    131 Court St Elizabeth, NJ 07206-1851

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    131 Court St Elizabeth, NJ 07206-1851

    View on Map
    • Specialty properties
    • 0.12 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Puerto Rican Culture Heritage / Cultural Center

    Property Details for 131 Court St

    Lot size
    0.12 lot acres
    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 0.12-acre commercial lot, situated at 131 Court Street in Elizabeth, New Jersey, presents a compelling investment opportunity. Currently configured as a vacant commercial building, previously used as a house of prayer, the property offers significant redevelopment potential. The existing structure is a shell, providing a clean slate for adaptive reuse. Located in Union County, within the vibrant city of Elizabeth, NJ, zip code 07206-1851, this property benefits from a strategic location. Its proximity to various amenities and transportation options enhances its appeal. The site's zoning and potential uses should be independently verified. Given the current housing demand in Elizabeth, this property is ideally suited for conversion into multifamily dwellings, such as apartments or condominiums, or other commercial ventures. The asking price is $599,000. GPS coordinates are available for precise location identification. This is a rare chance to acquire a well-positioned commercial property in a thriving New Jersey market. Serious inquiries are encouraged to explore the possibilities this unique offering presents. The property is sold as-is.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.1853
    Latitude
    40.6509

    Comparable in this City

    • Value Estimation by Request
      5,600 SF

      645 Magnolia Ave

      Land • 5,600 SF
      645 Magnolia Ave, Elizabeth, NJ 07206-1407
      View Details
    • Value Estimation by Request

      107 Trumbull St

      Distribution properties
      107 Trumbull St, Elizabeth, NJ 07206
      View Details
    • Value Estimation by Request
      0.27 Acres

      320-326 Elizabeth Ave

      Land • 0.27 Acres
      320-326 Elizabeth Ave, Elizabeth, NJ 07206
      View Details
    • Value Estimation by Request
      5,426 SF

      207-211 Bond St, Unit 211

      DAY CARE, PRE-SCHOOL • 5,426 SF
      207-211 Bond St, Elizabeth, NJ 07206-1906
      View Details
    • Value Estimation by Request
      0.24 Acres

      65 Jersey St Rear, Unit 1057

      COMMERCIAL (GENERAL) • 0.24 Acres
      65 Jersey St Rear, Elizabeth, NJ 07206-1704
      View Details
    • Value Estimation by Request
      0.08 Acres

      81-87 2nd St, Unit 87

      COMMERCIAL (GENERAL) • 0.08 Acres
      81-87 2nd St, Elizabeth, NJ 07206-1714
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Land For Sale/Lease

      Vacant land near NJ Turnpike, Routes 1 & 9.
      320-326 Elizabeth Ave, Elizabeth, NJ 07206
      View Details
    • $250,000

      Land Parcel with Redevelopment Potential

      Land for sale, existing structure non-habitable, sold as-is.
      130 Inslee Pl, Elizabeth, NJ 07206
      View Details
    • $575,000
      2,600 SF

      Religious Facility in Mixed-Use Neighborhood

      Church with sanctuary, study, play area, parking, in Elizabeth.
      240 3Rd St, Elizabeth, NJ 07206
      View Details
    • Contact for pricing

      Church in Mixed Use Neighborhood

      Church building with sanctuary, study, play area, and parking.
      240-244 3Rd St, Elizabeth, NJ 07206
      View Details
    • $1,200,000
      0.12 Acres

      Elizabethport Commercial Investment Opportunity

      High-Yield Multi-Unit Property with Garage
      9-15 1St St, Elizabethport, NJ 07206
      View Details
    • Contact for pricing
      Pending

      Elizabeth City Land Redevelopment Opportunity

      Land in Elizabeth City suitable for redevelopment, sold as-is.
      131 Court St, Elizabeth, NJ 07206
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,811 SF

      Industrial Space Near Newark Airport

      Industrial property for rent, convenient access to transportation hubs.
      429-449 Schiller St, Elizabeth, NJ 07206
      View Details
    • $2,700 /Mo

      Storefront on Busy Intersection

      Storefront for lease in high foot traffic area.
      500 Fulton St, Elizabeth, NJ 07206
      View Details
    • $2,500 /Mo

      Elizabethport First-Floor Apartment Rental

      First-floor apartment with 3 bedrooms and 2 bathrooms for rent.
      85 Broadway, Elizabeth, NJ 07206
      View Details
    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.
    131 Court St
    Elizabeth, NJ 07206-1851
    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

    Thank You for Inquiry

    131 Court St, Elizabeth, NJ, 07206

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!