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364-368 Morris Ave 3,616 SF 100% Leased Office Building Elizabeth, NJ 07208 $879,000 ($243.09/SF) 6.87% Cap Rate
Investment Highlights
- High visibility
- High demand property
- Corner Location
Executive Summary
Mixed use property on a highly visible corner on Morris Ave in Elizabeth NJ close to train station, airport and Kean College with parking for 8 cars.
Lease on commercial space expires September 2027. Space good for many professional uses.
Call for additional details.
Lease on commercial space expires September 2027. Space good for many professional uses.
Call for additional details.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
3,616 SF
Building Class
C
Year Built
1911
Price
$879,000
Price Per SF
$243.09
Cap Rate
6.87%
NOI
$60,408
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
1,603 SF
Building FAR
0.69
Lot Size
0.12 AC
Amenities
- Signage
1 1
Exceptionally walkable
90/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 04-00011-0000-00766 | Total Assessment | $548,500 |
| Land Assessment | $192,100 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $356,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
04-00011-0000-00766
Land Assessment
$192,100
Improvements Assessment
$356,400
Total Assessment
$548,500
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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364-368 Morris Ave
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