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

    230 2nd St Elizabeth, NJ 07206-1956

    • Bars
    • 3,953 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Mar 29, 2022
    $250,000
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0994454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bars

    Property Details for 230 2nd St

    Year built
    1830
    Lot size
    0.06 lot acres
    Property size
    3,953 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    04 00811-0000-00023
    APU
    400811000000023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $330,000
      ML approach
      $280,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.1844
    Latitude
    40.6531
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $14,892
    $6,700
    $42,000
    $48,700
    -
    $6,700
    $42,000
    $48,700

    Comparable in this City

    • Value Estimation
      $455,000
      3,499 SF

      454 1st Ave

      BAR, TAVERN • 3,499 SF
      454 1st Ave, Elizabeth, NJ 07206-1122
      View Details
    • Value Estimation
      $545,000
      4,092 SF

      83 Livingston St

      BAR, TAVERN • 4,092 SF
      83 Livingston St, Elizabeth, NJ 07206-1728
      View Details
    • Value Estimation
      $320,000
      1,576 SF

      630 New Pt Rd 634th

      BAR, TAVERN • 1,576 SF
      630 New Pt Rd 634th, Elizabeth, NJ 07206-1239
      View Details
    • Value Estimation
      $405,000
      6,976 SF

      73-75 Florida St, Unit 75

      BAR, TAVERN • 6,976 SF
      73-75 Florida St, Elizabeth, NJ 07206-1543
      View Details
    • Value Estimation
      $405,000
      5,624 SF

      200-202 Geneva St, Unit 202

      BAR, TAVERN • 5,624 SF
      200-202 Geneva St, Elizabeth, NJ 07206-1530
      View Details
    • Value Estimation
      $1,065,000
      70,000 SF

      212 Lt Glenn Zamorski Dr

      BAR, TAVERN • 70,000 SF
      212 Lt Glenn Zamorski Dr, Elizabeth, NJ 07206-1521
      View Details

    Similar Nearby for Sale

    • $500,000

      Established Business with Liquor License

      Established business for sale with consumption liquor license included.
      50 3Rd St, Elizabeth, NJ 07206
      View Details
    • $560,000

      Mixed-Use Building with Restaurant

      Three-unit mixed-use building featuring a restaurant and two apartments.
      645 Magnolia Ave, Elizabeth, NJ 07206
      View Details
    • $800,000
      3,166 SF

      Mixed-Use Building with Restaurant Space

      Mixed-use building featuring a restaurant and residential units.
      335 Elizabeth Ave, Elizabeth, NJ 07206
      View Details
    • $999,000

      Corner Property in Elizabethport

      Investment opportunity with commercial storefronts and residential apartment.
      261-263 2Nd St, Elizabeth, NJ 07206
      View Details
    • $1,300,000
      6,425 SF

      Elizabethport Mixed-Use Investment Opportunity

      High-visibility corner property with three income-generating units in revitalizing area.
      261 2Nd St, Elizabeth, NJ 07206
      View Details
    • New
      $805,000
      5,250 SF

      Mixed-Use Property with Restaurant Income

      Three-story mixed-use property with restaurant and residential income potential.
      442 Elizabeth Ave, Elizabeth, NJ 07206
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,013 SF

      Elizabeth Retail Space - Bond Street

      Prime Elizabeth location, 3,013 sq ft retail space.
      600 Bond St, Elizabeth, NJ 07206
      View Details
    • $2,000 /Mo

      Renovated Storefront in Elizabeth, NJ

      Newly renovated, versatile space in a high-traffic Elizabeth location.
      130 1St St, Elizabeth, NJ 07206
      View Details
    • $2,600 /Mo

      Modern Apartment with Stainless Appliances

      Upper floor 3-bedroom apartment with modern features and convenient location.
      253 Pine St, Elizabeth, NJ 07206
      View Details
    • $2,300 /Mo

      Charming Three-Bedroom Apartment For Rent

      Comfortable 3-bedroom apartment in Elizabeth, close to amenities.
      255 Magnolia Ave, Elizabeth, NJ 07206
      View Details
    • $2,250 /Mo

      Office Space Near Transportation Hub

      Office space with offices, kitchen, and close to transportation.
      210 Trumbull St, Elizabeth, NJ 07206
      View Details
    • $2,400 /Mo

      Spacious Apartment with Loft Area

      Three-bedroom apartment with loft, eat-in kitchen, and private backyard.
      537 S Park St, 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.
    230 2nd St
    Elizabeth, NJ 07206-1956
    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.