Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    838 Grand St Elizabeth, NJ 07201

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Trucare Pharmacy / Pharmacy
    • Coinstar Kiosk | Bitcoin ATM / Kiosk / Atm
    • Orlandi Valuta / Money Transfer Service / Money Order Service
    • Coinstar Kiosk / Money Transfer Service / Atm
    • Vigo / Money Transfer Service / Money Order Service

    Property Details for 838 Grand St

    Year built
    1980
    Property type
    Retail properties

    Description

    This 405 sq. ft. single-tenant retail space, located at 838 E Grand St, Elizabeth, NJ 07201, presents a fantastic opportunity for a variety of businesses. Built in 1980, this Union County property is situated within the Extra Supermarket, ensuring high foot traffic and convenient customer access. The space boasts its own bathroom and a rolling window, ideal for customer interaction and product display. All major utilities and property taxes are included in the rental price, simplifying operations and reducing overhead. Ample parking is available for customers, further enhancing convenience. The high visibility location within a bustling supermarket makes this space perfect for businesses such as pharmacies, optical shops, nail or hair salons, or phone companies. This vibrant and accessible space offers excellent potential for growth and success. The property is a single-tenant space within a larger strip mall. This turnkey solution allows businesses to focus on their operations, rather than property management concerns. The strategic location and included amenities make this an exceptional opportunity for a business seeking a thriving retail environment.

    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
    -74.1996
    Latitude
    40.6638

    Comparable in this City

    • Value Estimation by Request
      6,438 SF

      1121 Madison Ave, Unit 1131

      NURSERY, GREENHOUSE, FLORIST • 6,438 SF
      1121 Madison Ave, Elizabeth, NJ 07201-1313
      View Details
    • Value Estimation by Request
      7,335 SF

      120 International Blvd

      Restaurants • 7,335 SF
      120 International Blvd, Elizabeth, NJ 07201
      View Details
    • Value Estimation by Request
      7,435 SF

      Grand & Division St

      Retail properties • 7,435 SF
      0 Grand & Division St, Elizabeth, NJ 07201
      View Details
    • Value Estimation by Request
      28,854 SF

      66-70 Broad St

      Restaurants • 28,854 SF
      66-70 Broad St, Elizabeth, NJ 07201
      View Details
    • Value Estimation by Request
      5,000 SF

      1201 Grand St

      Retail properties • 5,000 SF
      1201 Grand St, Elizabeth, NJ 07201
      View Details
    • Value Estimation by Request
      1 SF

      1000 Ikea Dr

      Land • 1 SF
      1000 Ikea Dr, Elizabeth, NJ 07201
      View Details

    Similar Nearby for Sale

    • $1,750,000
      10,994 SF

      Mixed-Use Property Near Transit

      Mixed-use property near transportation hub, ideal for various commercial uses.
      231 Broad St, Elizabeth, NJ 07201
      View Details
    • $1,595,000
      2,534 SF

      Profitable Restaurant & Mixed-Use Property

      Turnkey restaurant and income-producing apartment in a high-traffic location.
      945 Elizabeth Ave, Elizabeth, NJ 07201
      View Details
    • $950,000
      3,885 SF

      Renovated Mixed-Use Investment Opportunity

      Fully renovated mixed-use property in central Elizabeth, NJ with income potential.
      930 E Grand St, Elizabeth, NJ 07201
      View Details
    • $450,000

      Established Restaurant and Bar ForSale

      Iconic City Tavern in Elizabeth, NJ, is now available.
      1109 Elizabeth Ave, Elizabeth, NJ 07201
      View Details
    • $1,399,000
      1,500 SF

      Downtown Elizabeth Mixed-Use Property

      1,500 SF space in downtown Elizabeth near train station.
      233 Broad St, Elizabeth, NJ 07201
      View Details
    • $42,000
      550 SF

      Established Hair Salon Opportunity

      Turnkey hair salon for sale in Elizabeth, New Jersey.
      1003 Monroe Ave, Elizabeth, NJ 07201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,435 SF

      Pointe Grande Plaza Retail Space For Lease

      7,435 SF Retail Space, Union County
      0 Grand & Division St, Elizabeth, NJ 07201
      View Details
    • Contact for pricing
      1 SF

      Elizabeth Retail Land Opportunity

      Prime NJ Retail Pads, Multiple Spaces
      1000 Ikea Dr, Elizabeth, NJ 07201
      View Details
    • $2,200 /Mo

      Retail/Office Space for Rent

      Commercial rental suitable for retail or office businesses.
      1114 E Grand St, Elizabeth, NJ 07201
      View Details
    • Contact for pricing
      2,500 SF

      Mixed-Use Building Near Transportation

      Two-story building with retail and office space near amenities.
      1201 E Grand St, Elizabeth, NJ 07201
      View Details
    • $3,500 /Mo

      Retail Space in High-Traffic Area

      Retail space with high foot traffic, close to schools.
      321 Jefferson Ave, Elizabeth, NJ 07201
      View Details
    • $2,000 /Mo

      Retail/Office Space in Elizabeth

      Retail or office space for lease in revitalized Elizabeth.
      708 E Jersey St, Elizabeth, NJ 07201
      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.
    838 Grand St
    Elizabeth, NJ 07201
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.