Property profile

717 New Point Rd Elizabeth, NJ 07201

OFF-MARKET
Specialty properties
13,000 SF
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Property summary

AI-generated overview

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 profile

Verified
Property type Specialty properties
Total area 13,000 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

717 New Point Rd Elizabeth, NJ 07201-2861
Elizabeth metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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