Commercial space For Sale in Jersey City, NJ
MLS# : 250012229
PROPERTY DETAILS
PROPERTY DESCRIPTION
Unlock the full potential of this Class C Mixed-Use income-generating property in the heart of Jersey City’s growing Greenville neighborhood. 32 MLK Jr Drive features: 2 Spacious Residential Units (both 3BR / 1BA) Retail or Office Space on Ground Level Three Stories of Usable Space No Rent Control & Active Green Card Separately Metered Utilities Low Operating Expenses Total Gross Annual Income: $67,800 Net Operating Income (NOI): $48,979 Estimated Cap Rate: 6.53% This is a prime opportunity for investors looking for a stabilized asset with solid in-place cash flow and upside potential in a rapidly developing area near mass transit, shopping, and schools. With no renovation required, this turnkey property is ready to go from day one. YouTube video tour available upon demand.
Amenities
This listing is a courtesy of HUDSON VIEW REALTY LLC
201-866-6500 office, listing agent JOSEPH LA MORTE
About Jersey City, NJ Real Estate Market
Jersey City currently serves as a prime hub for distribution and transportation terminus for the Port of New York and New Jersey. Ever since the redevelopment of the Jersey City Waterfront happened, Jersey City became a major hub for banking and finance in the United States of America. All these developments in these years also resulted in the development of Hudson County real estate in the city.
Consisting of most of the parts of Ellis Island, Jersey City also surrounds Liberty City through its waters in the Upper New York Bay. Thanks to its proximity and easy connectivity to Manhattan, Jersey City is also considered the sixth borough of New York City. Jersey City has some of the earliest European settlements in North America, which played a crucial role in the development of various sections of the city.
| Population: | 267,345 |
| Total Housing Units: | 104,018 |
| Single Family Homes: | 36,684 |
| Apartments: | 67,334 |
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
| Compare To Other Towns |
Jersey City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $715,928 |
| Homes Sold* (12mo): | 228 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $667,015 |
| Apatments Sold* (12mo): | 1,089 |
APARTMENT SALES
Jersey City, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $350,000 - 3,495,000 | 54 |
| Condos : | $150,000 - 4,048,000 | 505 |
| Co-ops : | $499,000 - 739,000 | 3 |
| Twnhs : | $369,000 - 2,099,000 | 11 |
| 2-4 Fam : | $475,000 - 3,495,000 | 124 |
| 5+ Fam : | $1,299,999 - 1,650,000 | 2 |
| Land : | $299,000 - 7,500,000 | 21 |
| Rentals : | $1,575 - 16,500 | 54 |
| Mixd Use : | $649,999 - 2,599,000 | 6 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $60,000 - 2,000,000 | 6 |
