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Under Contract

Vacant Commercial Property- Elizabeth Redevelopment Area

Redevelopment Opportunity- Elizabeth, NJ - SOLD AS IS

Listing Contacts

Under Contract

Property is under contract
Address 

131-133 Court St, Elizabeth, NJ 07206

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Date Added
Aug 22, 2024
Days on Market
209 days
Time Since Last Update
26 days

Details

Property TypeMultifamily
SubtypeApartment Building
Investment TypeRedevelopment
Investment Sub Typemultifamily
Square Footage10,000
Net Rentable (sq ft)10,000
OccupancyVacant
Year Built1913
Year Renovated2006
Buildings1
Stories2
ZoningR3A
Lot Size (sq ft)5,000
OwnershipCorporation
Ceiling Height12

Marketing Description

Property Overview:
The property located at 131 Court St.​ in Elizabeth, New Jersey, offers a unique opportunity for investors and developers.​ Property was used as as a church but was not completed, this building is prime for development.​ The building is presently a shell, offering a blank canvas for significant rehabilitation.​ With its prime location in Elizabeth, this property has the potential to be transformed into multifamily rentals or condominiums, catering to the increasing demand for housing in the area.​ Property being sold AS-IS

CONTACT MY PARTNER INGRIG SUAREZ FOR MORE INFO 908-908-358-2056

Investment Highlights

Prime Redevelopment Opportunity

  • Current Status: Vacant Commercial was a church, currently a shell. Needs Rehab.

  • Redevelopment Potential: Ideal for transformation into multifamily and or rentals with proper variance.

Strategic Location

  • City: Elizabeth, New Jersey

  • Proximity to Transportation: Minutes from NJ Transit’s Elizabeth Station, offering direct rail access to Newark, New York City, and beyond.

  • Access to Highways: Near the New Jersey Turnpike, Garden State Parkway, and Routes 1&9.

  • Airports: Only 10 minutes from Newark Liberty International Airport.

Growing Market Demand

  • Housing: Increasing demand for housing in Elizabeth makes this property a compelling investment.

  • Education: Nearby Kean University and top-rated public and private schools.

Neighborhood Amenities

  • Shopping & Dining: Close to Elizabeth Avenue Shopping District and Jersey Gardens Outlet Mall.

  • Parks & Recreation: Walking distance to Mattano Park and Warinanco Park, offering green spaces and recreational activities.

Investment Potential

  • Flexible Use: The shell structure offers a blank canvas for various development options.

  • Future ROI: Significant potential for value appreciation through strategic redevelopment.


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Listing Contacts


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