201-205 Broad St
Elizabeth, NJ 07201
Retail Property For Sale

Marcus & Millichap is pleased to exclusively list for sale, a value add opportunity in downtown Elizabeth, NJ (Union County). There are currently two tenants operating on month/month leases and six vacancies. The building on Broad Street includes a second and third floor, while the three tenant retail building on East Grand has three spaces. Pro-forma cap rate equates to a 9.86% return at ask. The subject property is a corner lot situated at a signalized light and is only one block from the train station. The property is situated in the township's C-5 zoning which allows for residential over retail including either 6 floors or 65 feet. The asking price is $2,650,000. Elizabeth is located in Union County, NJ. The subject property is approximately 20 miles southwest of New York City. Elizabeth hosts a number of major highways. Interstate 95, Interstate 278 (Goethals Bridge), U.S. Route 1/9, Route 27, Route 28, and Route 439 all run through some portion of Elizabeth. Elizabeth has many means of public transportation. New Jersey Transit offers train service that runs through Elizabeth on the Northeast Corridor Line and North Jersey Coast Line with a station stop in Elizabeth. New Jersey Transit has a project in the works that would have a light rail line that runs from a station in Elizabeth to Newark Airport, with several stops in Elizabeth along the way. New Jersey Transit also offers a number of bus routes to Port Authority Bus Terminal in Midtown Manhattan and Newark from various locations in Elizabeth.