IPRG NJ announces sale of 827–833 Bond St., Elizabeth

Elizabeth, NJ — Investment Property Realty Group (IPRG) NJ is pleased to announce the sale of 827–833 Bond St. in Elizabeth, listed and sold by Yanni Marmarou, managing partner, and Jack Drillock, director.

The property, situated on an 11,040 s/f lot and improved with a 10,735 s/f industrial warehouse, sold for $1.4 million, achieving 88% of the original $1.6 million asking price. The warehouse is currently divided into two functional spaces 7,910 s/f and 2,825 s/f and was delivered vacant at closing.

During the marketing process, the IPRG NJ team conducted over 20 tours and procured more than a dozen qualified offers, reflecting the property’s strong market appeal and the team’s proactive brokerage efforts. The property ultimately sold to an all-cash investor, who plans to lease the building to an industrial tenant.

The larger section of the warehouse features clear ceiling heights of approximately 15 feet, while the smaller section offers 11–12-foot ceilings. The building includes two drive-in doors (12 and 13 feet high), ensuring excellent accessibility and functionality. Previously used as an auto repair and body shop, the site’s flexible configuration makes it well-suited for a range of future uses.

Located in an R-3A Residential Zone, which permits 1–4 family homes, the property also offers strong redevelopment potential. With its favorable dimensions and lot size, it may be subdivided into up to three residential lots (subject to municipal approvals), appealing to investors seeking long-term value.