$600,000
$549,900
9.1%For more information regarding the value of a property, please contact us for a free consultation.
5,550 SqFt
SOLD DATE : 05/15/2025
Key Details
Sold Price $600,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 5,550 sqft
Price per Sqft $108
MLS Listing ID 2512042R
Sold Date 05/15/25
Year Built 1964
Annual Tax Amount $18,147
Tax Year 2023
Lot Size 3,750 Sqft
Acres 0.0861
Lot Dimensions 100.00 x 0.00
Property Sub-Type Commercial
Source CJMLS API
Property Description
Value-Add Mixed-Use Opportunity in Red-Hot Elizabethport! 552-554 Elizabeth Ave offers stable income today with huge upside for tomorrow. This mixed-use building features 2 spacious 2-bed/1-bath units, 1 non-conforming 1-bed unit, and a commercial space currently used as an auto repair shop. Long-term tenants mean under-market rents, leaving room for increased cash flow. Property presents a rare chance for potential redevelopment into a higher-density multi-unit mixed-use property (buyer to verify). With over 30 years under one owner, this is the kind of investment that doesn't come around often, ideal for investors or developers looking to capitalize on the area's explosive growth. Sold as-is. Buyer is responsible for due diligence.
Location
State NJ
County Union
Zoning Mixed
Interior
Interior Features See Remarks
Heating See Remarks
Cooling Window Unit(s)
Flooring See Remarks
Heat Source Natural Gas
Exterior
Utilities Available Natural Gas Connected
Roof Type Flat
Total Parking Spaces 2
Building
Lot Description Commercial Area
Story 2
Sewer Public Sewer
Water Public
Others
Senior Community no
Tax ID 0400657000000004
Energy Description Natural Gas
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