6 Elmer St
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6 Elmer St
4,186 SF Retail Building Madison, NJ 07940 $1,310,000 ($313/SF)
Investment Highlights
- Mixed-Use Opportunity: Ground floor formerly operating as a restaurant, with income-generating apartments on the second floor.
- Historic Charm: Originally an old house, the property has been fully renovated to accommodate modern commercial needs while preserving its character.
- Investment Potential: Ideal for owner-users or investors seeking dual income streams from residential and commercial tenants.
- Additional Building: A small rear building, presently used for storage, offers flexible potential for retail, additional restaurant space, or other co
- Prime Location: Situated in Madison’s central business district, providing high visibility and foot traffic.
- Flexible Use Options: Suited for restaurant, retail, or specialty business concepts, with room for expansion in the rear building.
Executive Summary
This unique mixed-use property in Madison, NJ offers a blend of commercial and residential space in a prime central business district location. Originally a single family house, the building has been thoughtfully renovated for modern commercial use while retaining its charm, creating an inviting atmosphere perfect for a restaurant or retail venture. The first floor operated as a popular Barbecue restaurant, and the second floor features 3 apartments (3-Bed,3- Baths), providing additional rental income opportunities. A separate building in the back, presently used for storage, offers flexibility for future use, whether it be for retail, additional restaurant space, or a specialty shop. Situated in a high-visibility area of Madison’s bustling business district, this property combines character, functionality, and income potential in a sought-after location. On street parking and directly across the street from free municipal parking lot.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$9,924
|
$2.58
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$9,924
|
$2.58
|
Financial Summary (Actual - 2023)
| Taxes | |
|---|---|
| Annual | $9,924 |
| Annual Per SF | $2.58 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $9,924 |
| Annual Per SF | $2.58 |
Property Facts
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Retail
Property Subtype
Building Size
4,186 SF
Year Built
1900
Price
$1,310,000
Price Per SF
$313
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.51
Lot Size
0.19 AC
Zoning
CBD2 - Central Business District
Frontage
32 FT on Elmer Street
Amenities
- Courtyard
- Restaurant
- Signage
- Storage Space
Walk Score ®
Walker's Paradise (92)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 17-01801-0000-00005 | Total Assessment | $482,000 (2024) |
| Land Assessment | $255,000 (2024) | Annual Taxes | $9,924 ($2.37/SF) |
| Improvements Assessment | $227,000 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
17-01801-0000-00005
Land Assessment
$255,000 (2024)
Improvements Assessment
$227,000 (2024)
Total Assessment
$482,000 (2024)
Annual Taxes
$9,924 ($2.37/SF)
Tax Year
2023
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