60-62 4Th StElizabeth, NJ 07206
- Commercial real estate
- 26,910 SF
Property Details for 60-62 4Th St
- Year built
- 1910
- Lot size
- 0.11 AC
- Property size (Sq ft)
- 26,910 SF
- Property type
- Commercial real estate
- APN
- 04 00678-0000-00031
- APU
- 400678000000031
Description
This exceptional mixed-use property, located at 60-62 4th Street in Elizabeth, New Jersey, presents a lucrative investment opportunity. Situated on a 5,000 square foot lot (50ft x 100ft), this two-story, 1910-built building boasts a prime corner location at the intersection of Franklin Street and 4th Street, offering excellent visibility and accessibility. Currently generating an estimated $9,100 in monthly income, the property comprises a ground floor nail salon ($2,800/month), a juice bar ($1,600/month), and a warehouse ($1,700/month). The second floor features two apartments, collectively generating $3,000/month in rental income. The nail salon features central air conditioning, while the apartments have window units. Convenient street parking is readily available. The property is offered at $888,000. Annual property taxes are $15,300. This is a motivated seller situation, making this a compelling investment opportunity in a thriving New Jersey location. The property is zoned for commercial use. The building's age and the current income stream suggest a strong potential for future appreciation and return on investment. Serious inquiries are encouraged.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $5,042,230
- 6.5%
- $4,654,370
- 7%
- $4,321,910
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,516,060
- Geo Method
- $3,516,060
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $9,163,380
- Retail / Commercial
- $4,698,930
- Mixed-Use / Specialty
- $4,682,180
- Hospitality / Lodging
- $3,435,170
- Office
- $4,654,370
- Institutional / Educational
- $4,867,580
- Residential Income
- $5,695,070
- Multifamily
- $6,830,360
- Automotive / Energy
- $4,172,210
- Parking / Income-Based Land
- $1,439,780
- Restaurant / Food Service
- $2,435,240
- Healthcare / Senior Housing
- $4,801,490
Location Insight
- City
- Elizabeth
- County
- Union
- State
- New Jersey
- Latitude
- 40.6533
- Longitude
- -74.1947
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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