439-441 3Rd AveElizabeth, NJ 07206

Property Details for 439-441 3Rd Ave

Year built

1950

Lot size

0.22 AC

Property size (Sq ft)

4,349 SF

Property type

Other commercial real estate

APN

04 00688-0000-00029

APU

400688000000029

Description

This exceptional Elizabeth, NJ industrial property offers a compelling investment opportunity with a 10.80% cap rate. Priced at $999,999, this property boasts 4,054 square feet across two buildings situated on a 9,500 square foot lot. Completely renovated in 2023, the property features a front building (2,387 sq ft) ideal for automotive or workshop use, with 12-foot-high doors and a private driveway. The rear building (1,672 sq ft) provides office space and storage, perfect for administrative functions or inventory management. Both buildings benefit from central heating. Currently vacant, this property presents a blank canvas for diverse business ventures, storage solutions, or workspace needs. Its strategic location in Elizabeth, New Jersey, and its modern updates make it a highly attractive investment prospect. The property's strong NOI of $108,000 further underscores its financial potential. The price per square foot is $246.67. This is a rare opportunity to acquire a well-maintained, versatile industrial property in a prime location.

• Alternative Use

  Use

  Valuation

  Residential

  $823,001

  Hospitality

  $753,864

  Educational

  $627,206

  Medical

  $648,777

  Retail

  $975,654

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Latitude

40.6511

Longitude

-74.2017

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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