620-622 Elizabeth AveElizabeth, NJ 07206

Property Details for 620-622 Elizabeth Ave

Year built

1900

Lot size

0.11 AC

Property size (Sq ft)

11,608 SF

Property type

Other commercial real estate

APN

04 00642-0000-00023

APU

400642000000023

Description

This exceptional mixed-use property at 620-622 Elizabeth Avenue in Elizabethport, NJ, presents a lucrative investment opportunity. Spanning 11,608 square feet on a 0.12-acre lot, the building comprises two retail spaces currently leased as a single unit and seven residential apartments. The apartment mix includes three one-bedroom units and four two-bedroom units, with six units boasting private balconies. Note that the first-floor apartments do not have balconies. All units are equipped with central air conditioning (CAC), and utilities are individually metered for efficient cost allocation. A full basement includes a dedicated utility room. The current leases on the residential units expire in June 2025, providing future flexibility for the new owner. The property offers significant potential for rental income and appreciation. Owner financing is available, making this an even more attractive proposition for qualified buyers. Don't miss the chance to acquire this well-maintained, high-yield investment property in a desirable location. The combination of retail and residential units provides a diversified income stream and strong potential for long-term growth. This is a rare opportunity to secure a substantial property in a thriving market.

• Alternative Use

  Use

  Valuation

  Residential

  $2,196,688

  Hospitality

  $2,012,154

  Educational

  $1,674,088

  Medical

  $1,731,663

  Retail

  $2,604,138

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Latitude

40.6565

Longitude

-74.2008

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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