Commercial space For Sale in Jersey City, NJ
MLS# : 250012942
PROPERTY DETAILS
PROPERTY DESCRIPTION
Prime Development Opportunity in Booming Jersey City! Unlock the full potential of this high-visibility property at 361 Central Avenue, located in the heart of Jersey City’s thriving Central Business District. This expansive 9,800 SF commercial space offers immediate income potential while sitting on a zoned development site allowing up to 5 stories – with ground-floor commercial and residential units above (2nd–5th floors). Build 12 2 Bed 2 Bath 950+- Sq Ft units above the retailor 16-20 1 Bed 1 Bath Units. This is a rare opportunity for investors or developers to capitalize on Jersey City’s continued growth and strong demand for mixed-use residential properties. Flexible zoning allows for a variety of configurations: upscale apartments, condos, or long-term rentals – all above an anchor retail space in a well-trafficked corridor.
Amenities
This listing is a courtesy of SMART CHOICE REALTY LLC
201-653-3300 office, listing agent JASON PASCALE
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): | $728,663 |
| Homes Sold* (12mo): | 232 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $671,552 |
| Apatments Sold* (12mo): | 1,098 |
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 | 70 |
| Condos : | $150,000 - 4,148,000 | 509 |
| Co-ops : | $485,000 - 739,000 | 4 |
| Twnhs : | $369,000 - 2,099,000 | 12 |
| 2-4 Fam : | $475,000 - 3,495,000 | 130 |
| 5+ Fam : | $1,299,999 - 1,650,000 | 2 |
| Land : | $299,000 - 7,500,000 | 22 |
| Rentals : | $1,900 - 16,500 | 43 |
| Mixd Use : | $649,999 - 1,650,000 | 5 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $60,000 - 2,000,000 | 6 |
