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$565,000 -$10,000 (-1.74%) Price Reduced
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Property Description
Great opportunity to own a mixed-use commercial building in an up-and-coming area with strong value-add potential. Property requires renovation, making it ideal for investors or owner-users looking to customize and maximize returns. Currently configured with two residential apartments on the Magnolia Ave side each offering 2 bedrooms and a restaurant on the Trumbull St side with seating for approximately 75 guests. The building spans both Magnolia Ave and Trumbull St, providing multiple access points. Suitable for a variety of uses, including retail, office, restaurant, or redevelopment (buyer to verify permitted uses). Property is being sold strictly as-is.
Full Property Details
Full Property Details for 645 Magnolia Ave
General
- Price: $565,000
- Taxes: $17,572 (2025)
- Status: Active
- Type: Retail
- Source: Garden_State
- MLS ID: 4019690
- Updated: 6/10/2026
- Added to Site: 66 day(s) ago
Business
- Includes: Building & Business, Equipment
Rental Information
- Lease Terms: See Remarks
Interior
- Flooring: Laminate, Tile
Rooms
Bathrooms
- Total Bathrooms: 4
- Restrooms: 4
Additional Information
- Equipment: Fixtures, Furniture, Refrigeration Unit, Smoke Detector
Parking
- Parking: On-Street Parking
Location
- County: Union
- Driving Directions: Trumbull to Magnolia . Restaurant face Thrumbull and apt face Magnolia
- Location Details: Business District, Residential Area
Heating & Cooling
- Cooling Type: 1 Unit, Central Air Conditioning
- Heating Type: 2 Units
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Available
- Water: Public Water
- Utility Description: All Underground
Structural Information
- Construction: Brick/Block
- Exterior Const.: Brick/Block
- Basement: Yes
- Basement Desc.: Unfinished
- Roof: Flat, Rubberized
- Stories in Building: 2
Unit Information
- 2 Bedroom Units: 2
Lot Features
- Lot Size: 57.21X77.51 X IRR
- Zoning: commercial
Financial Considerations
- Price Per Sq. Ft.: $287
- Assessment Amount: $871,200
- Land Assmt: $150,500
- Tax Amount: $17,572
- Tax Year: 2025
Disclosures and Reports
- Ownership: Fee Simple
- Documents Avail.: No Documents Available
- Disclosures: Yes
- APN: 2904-00629-0000-00002-0000-
- Block: 629
- Lot Number: 2
Listed by Keller Williams Metropolitan
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Schools
Schools serving 645 Magnolia Ave
School District:Elizabeth City School District
| Name | Grades | Distance |
|---|---|---|
Number 20, John Marshall Elementary School 521 Magnolia Avenue, Elizabeth, NJ 07206 | PK-8 | 0.2 mi |
John E Dwyer Tech Academy 123 Pearl Street, Elizabeth, NJ 07202 | 9-12 | 0.9 mi |
T Jefferson Arts Academy 27 Martin Luther King Junior Boulevard, Elizabeth, NJ 07201 | 9-12 | 0.9 mi |
Elizabeth High School 40 Morrell Street, Elizabeth, NJ 07202 | 9-12 | 0.9 mi |
Adm W F Halsey Leadership Academy 641 South Street, Elizabeth, NJ 07202 | 9-12 | 1 mi |
T A Edison Career Tech Academy 625 Summer Street, Elizabeth, NJ 07202 | 9-12 | 1.2 mi |
A Hamilton Preparatory Academy 310 Cherry Street, Elizabeth, NJ 07208 | 9-12 | 1.5 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 645 Magnolia Ave
Date
Details
Price
Change
Source
6/10/2026
Price Reduced
$565,000
-1.74%
MLS
4/09/2026
Listed
$575,000
—
MLS
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
Tax History for 645 Magnolia Ave
Year
Property Taxes
Change
Tax Assessment
Change
2024
$16,762
14%
$871,200
—
2023
$14,678
3%
$871,200
1766%
2022
$14,280
2%
$46,700
—
2021
$13,986
4%
$46,700
—
2019
$13,461
1%
$46,700
—
2018
$13,330
3%
$46,700
—
2017
$12,958
—
$46,700
—
2016
$12,959
6%
$46,700
—
2015
$12,188
9%
$46,700
—
2013
$11,160
—
$46,700
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 645 Magnolia Ave
645 Magnolia Ave, Elizabeth, NJ 07206 (MLS# 4019690) is a Retail property. 645 Magnolia Ave is currently listed for $565,000 and was received on April 09, 2026. Want to learn more about 645 Magnolia Ave? Do you have questions about finding other Retail real estate for sale in Elizabeth? You can browse all Elizabeth real estate or contact a Coldwell Banker agent to request more information.

