Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    505 Broad St Elizabeth, NJ 07208

    Property Lookup

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

    505 Broad St Elizabeth, NJ 07208

    View on Map
    • Retail properties & Spaces
    • 19,580 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Western Union / Bank / Credit Union
    • Imperial Plaza / Shopping Center & Mall
    • Playa Bowls Elizabeth / Restaurant
    • Staffing Alternatives / Employment Agency
    • Trasciende Assistance / Social Service Agency

    Property Details for 505 Broad St

    Property size
    19,580 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 505 North Broad Street in Elizabeth, New Jersey, offers a fantastic opportunity for businesses seeking a prominent location in Union County. The building boasts a total of 19,580 square feet, with 3,012 square feet currently available for lease. This space presents a versatile layout ideal for a variety of retail uses. The property is conveniently situated at 505 N Broad St, Elizabeth, NJ 07208, providing excellent visibility and accessibility. Ample parking is available with 45 spaces provided for customers and employees. The property is classified as a multi-tenant retail building, offering a vibrant and bustling commercial environment. The available space is 3,012 square feet, providing ample room for expansion and growth. This prime location in Elizabeth, within Union County, offers easy access to major transportation routes and a strong customer base. The property's strategic location and substantial square footage make it an attractive investment for businesses seeking to establish or expand their presence in a thriving market. This is a rare opportunity to secure a well-positioned retail space in a high-traffic area. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.2127
    Latitude
    40.6739

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      264-268 Nth Broad St

      Land • 11,400 SF
      264-268 Nth Broad St, Elizabeth, NJ 07208
      View Details
    • Value Estimation by Request

      1317 North Ave

      Office Units
      1317 North Ave, Elizabeth, NJ 07208
      View Details
    • Value Estimation
      $760,000
      5,444 SF

      800 Sheridan Ave, Unit 810

      FINANCIAL BUILDING • 5,444 SF
      800 Sheridan Ave, Elizabeth, NJ 07208-3523
      View Details
    • Value Estimation by Request
      5,131 SF

      344 Westminster Ave, Unit 352

      FINANCIAL BUILDING • 5,131 SF
      344 Westminster Ave, Elizabeth, NJ 07208-3205
      View Details
    • Value Estimation by Request
      1,357 SF

      270-272 Morris Ave, Unit 272

      BAR, TAVERN • 1,357 SF
      270-272 Morris Ave, Elizabeth, NJ 07208-3607
      View Details
    • Value Estimation by Request
      3,712 SF

      54-56 Orch St, Unit 56

      BAR, TAVERN • 3,712 SF
      54-56 Orch St, Elizabeth, NJ 07208-3604
      View Details

    Similar Nearby for Sale

    • $200,000
      3,000 SF

      Turnkey Restaurant in Elizabeth City

      Fully operational restaurant with growth potential in a busy area.
      54 Orchard St, Elizabeth, NJ 07208
      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, NJ 07208
      View Details
    • $1,369,900
      4,227 SF

      Mixed-Use Property in Elmora Avenue

      Mixed-use property with commercial space and residential apartment in Elizabeth.
      376 Elmora Ave, Elizabeth, NJ 07208
      View Details
    • $1,369,900
      0.13 Acres

      Mixed-Use Property on Elmora Avenue

      Mixed-use property in Elizabeth, NJ with commercial space and apartment.
      376 Elmora Ave, Elizabeth, NJ 07208
      View Details
    • $849,000
      Pending

      Elizabeth City Multi-Family Investment

      Three-unit property with income potential in Elizabeth's Midtown/Elmora section.
      108-110 Orchard St, Elizabeth, NJ 07208
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      High-Visibility Corner Business First Floor

      First floor commercial space suitable for office or retail.
      1335 North Ave, Elizabeth, NJ 07208
      View Details
    • Contact for pricing

      Morris Avenue Office Space

      Office space for rent in Elizabeth, NJ with parking.
      426 Morris Ave, Elizabeth, NJ 07208
      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.
    505 Broad St
    Elizabeth, NJ 07208
    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!