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$999,000

  • For Sale
  • Active
  • Commercial
See This Home
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Excellent investment opportunity in the heart of Elizabethport a vibrant and growing area just minutes from the waterfront and major transportation! This high-visibility corner property features three income-generating units, including two established commercial storefronts and a 2-bedroom residential apartment. Property Features: Prime corner location with great exposure and steady foot traffic. Two commercial units currently leased and operating as a restaurant and a liquor store. Upstairs 2-bedroom apartment with a private entrance ideal for an owner-occupant or to generate additional rental income. This property is perfect for investors seeking a turnkey asset in a revitalizing area, or business owners looking to live and work in one location. With its corner presence and proximity to redevelopment projects in Elizabethport, this is a smart buy with strong upside potential.

Full Property Details for 261 Second St

General

  • Price: $999,000
  • Taxes: $16,640 (2024)
  • Status: Active
  • Type: Commercial
  • Source: Garden_State
  • MLS ID: 3965540
  • Updated: 9/2/2025
  • Added to Site: 236 day(s) ago

Business

  • Includes: Building & Land

Rental Information

  • Lease Includes: Building Insurance, Taxes
  • Lease Terms: See Remarks

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Restrooms: 4

Additional Information

  • Equipment: Fixtures, Kitchen Area, Restrooms - Private

Parking

  • Parking: None

Location

  • County: Union
  • Driving Directions: Elizabeth Ave to 2nd St
  • Location Details: Corner

Heating & Cooling

  • Cooling Type: No Cool
  • Heating Type: 1 Unit, Radiators - Steam
  • Heating Fuel: Electric, Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: Electric, Natural Gas

Structural Information

  • Construction: See Remarks
  • Exterior Const.: See Remarks
  • Basement: Yes
  • Basement Desc.: Full
  • Roof: Flat
  • Stories in Building: 2
  • Square Feet: 6,425
  • Aprox. Leasable: 6,425 Sq. Ft.

Unit Information

  • 2 Bedroom Units: 1

Lot Features

  • Lot Size (Acres): 0.12
  • Lot Size: 50X100
  • Permitted Use: Mixed Use
  • Zoning: Comm/Res

Financial Considerations

  • Price Per Sq. Ft.: $999
  • Expenses: Insurance, Taxes
  • Assessment Amount: $864,900
  • Land Assmt: $180,000
  • Tax Amount: $16,640
  • Tax Year: 2024
  • Owner Pays: No Utilities
  • Tenant Pays: Electric, Gas, Water
  • Pays Utilities: Tenant

Disclosures and Reports

  • Ownership: Fee Simple
  • Documents Avail.: Leases, See Remarks
  • APN: 2904-00815-0000-00001-0000-
  • Block: 815
  • Lot Number: 1

Listed by Re/Max New Millennium Group

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Listing agent

— 261 Second St —

  • Re/Max New Millennium Group

908-282-1234

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 261 Second St

School District:Elizabeth City School District
NameGradesDistance
Number 13, Benjamin Franklin Elementary School
248 Ripley Place, Elizabeth, NJ 07206
PK-80.2 mi
Elizabeth High School
40 Morrell Street, Elizabeth, NJ 07202
9-121.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 261 Second St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/02/2025
Price Reduced
$999,000
-23.15%
MLS
5/27/2025
Listed
$1,300,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 261 Second St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$16,641
59%
$864,900
2429%
2022
$10,458
2%
$34,200
—
2021
$10,242
5%
$34,200
—
2018
$9,762
3%
$34,200
—
2017
$9,489
—
$34,200
—
2016
$9,490
6%
$34,200
—
2015
$8,926
-9%
$34,200
—
2019
$9,858
21%
$34,200
—
2013
$8,173
—
$34,200
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Re/Max New Millennium Group

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261 2nd St, Elizabeth, NJ 07206 (MLS# 3965540) is a Commercial property. 261 2nd St is currently listed for $999,000 and was received on May 27, 2025. Want to learn more about 261 2nd St? Do you have questions about finding other Commercial real estate for sale in Elizabeth? You can browse all Elizabeth real estate or contact a Coldwell Banker agent to request more information.

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