9-15 1St St Elizabethport, NJ 07206
- Commercial real estate
- 0.12 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 9-15 1St St
- Lot size
- 0.12 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment property, located at 9-15 First Street in Elizabethport, NJ, presents a lucrative opportunity for discerning investors. The 0.12-acre lot encompasses a mixed-use building featuring three 2-bedroom apartments, each boasting 1.5 bathrooms, and a substantial approximately 2000 square foot garage currently operating as a successful bike shop. The apartments generate a combined monthly rental income of $8,085, with individual rents of $1,700, $1,675, and $1,700 respectively. The commercial garage space contributes an additional $3,000 per month in rental income, resulting in a strong total monthly revenue stream. Separate utility meters ensure efficient cost allocation for both residential and commercial tenants. This property offers a compelling blend of residential and commercial income, providing a diversified investment portfolio with significant potential for future appreciation. The property is priced at $1,200,000, representing a solid return on investment. The existing tenant in the garage space provides immediate cash flow, while the apartments offer stable long-term rental income. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location. The property's size and layout offer flexibility for future development or expansion, further enhancing its investment potential. Serious inquiries are encouraged.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elizabethport
- County
- Union
- State
- New Jersey
- Longitude
- -74.19017
- Latitude
- 40.64663
