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500 Cherry St
Elizabeth, NJ 07208

Price Upon Request

Assisted Living For Sale  •  9,353 SF

Property Details

  • Property Type Assisted Living
  • Total Building Size 9,353 SF
  • Lot Size 0.38 AC
  • Building Class C
  • Year Built 1959
  • Zoning R-3A
60 Transit Score
80 Walk Score

Highlights

The property sits on a massive 0.38-acre corner lot.
Situated in a Four-Family Residential Zone.
The submarket features a tight 4.5% multi-family vacancy rate.
The existing 19-unit layout operates as a legal nonconforming use.
Fifty percent seller financing is available.
Huge upside potential by leasing up vacancies and more efficient operations or by redeveloping the 0.38 acre, corner lot into an apartment building.

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
Elizabeth (North Jersey Coast Line - NJ Transit Commuter Rail (NJ Transit), Northeast Corridor Line - NJ Transit Commuter Rail (NJ Transit)) 3 min 16 min 0.8 mi
Union (Raritan Valley Line - NJ Transit Commuter Rail (NJ Transit)) 3 min - 1.2 mi
Transit/SubwayDriveWalkDistance
Elizabeth (North Jersey Coast Line - NJ Transit Commuter Rail (NJ Transit), Northeast Corridor Line - NJ Transit Commuter Rail (NJ Transit)) 3 min 18 min 0.8 mi
AirportDriveWalkDistance
Newark Liberty International 14 min - 7.5 mi
LaGuardia 49 min - 25.2 mi
John F Kennedy International 56 min - 33.1 mi
Kevin Taub 201-742-6132 Marcus & Millichap
Kevin Taub 201-742-6132 Marcus & Millichap