433 Elizabeth Ave Elizabeth, NJ 07206

Property Details for 433 Elizabeth Ave

Lot size

0.06 lot acres

Property size

4,828 SF

Property type

Commercial real estate

APN

04 00680-0000-00041

APU

400680000000041

Description

This exceptional mixed-use property at 433 Elizabeth Avenue in Elizabethport, NJ, presents a compelling investment opportunity. The building encompasses 4,828 square feet on a 0.06-acre lot and is strategically located on a busy main thoroughfare. The ground floor boasts a 2,000 square foot commercial storefront currently leased, with the lease expiring in February 2025. This space offers significant potential for various business ventures, given its high-traffic location. Upstairs, the residential component comprises two separate units. The second floor features a spacious four-bedroom, two-bathroom apartment, currently leased until December 2025. The third floor offers a cozy two-bedroom, one-bathroom unit with a month-to-month lease. A key advantage is that all units – both commercial and residential – are currently rented below market value, providing immediate potential for substantial rental income increases upon lease renewals. Each residential unit enjoys the convenience of a private entrance, enhancing tenant privacy and comfort. The property's prime location offers easy access to a variety of amenities, including shops, restaurants, and public transportation, further enhancing its appeal and investment potential. This is a rare opportunity to acquire a well-situated mixed-use property with significant upside potential in a thriving area. The asking price is $990,000.

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Longitude

-74.1969

Latitude

40.6533

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments