Commercial space For Sale in Jersey City, NJ
MLS# : 250019046
PROPERTY DETAILS
PROPERTY DESCRIPTION
Investment Gold in Jersey City – 123-125 Booraem Ave If you’re looking for a turn-key, cash-flowing investment in the Heights section of Jersey City, this property on the tree-lined Booraem Avenue is a rare find. Operating as a Class A weekly room rental facility, it features 21 rentable rooms, 3 apartment rentals, a large detached garage rental, an oversized basement, and a long driveway on a 50x100 lot. With an experienced on-site super and a strict tenant vetting process, this property practically runs itself—income starts day one. This boasts an attractive, strong potential 8.22% cap rate, offering impressive income potential with room for growth. With high monthly rents and near-zero vacancies, this is a true cash cow. Currently, 2 units are being renovated, providing additional upside, and it’s perfect for an owner-operator who wants to live on-site and maximize control. The sale even includes transition time for new ownership to “learn the ropes,†making it easy to step in and start learning and earning. Ideally located near Pershing Field Park, just steps from Hoboken’s iconic 100 Steps, one block from the Central Ave bus to Port Authority, and near the soon-to-open Jersey City Reservoir Project, the location alone makes this property highly desirable. Opportunities like this don’t come along often. 123-125 Booraem Ave is ready to generate income from day one—schedule your showing today!
Amenities
This listing is a courtesy of LIBERTY REALTY LLC
201-222-2900 office, listing agent TAREK HASSIEB
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): | $736,588 |
| Homes Sold* (12mo): | 219 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $679,503 |
| 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 : | $349,900 - 2,099,000 | 76 |
| Condos : | $189,000 - 4,048,000 | 504 |
| Co-ops : | $418,000 - 529,500 | 2 |
| Twnhs : | $369,000 - 2,099,000 | 18 |
| 2-4 Fam : | $499,000 - 2,750,000 | 131 |
| 5+ Fam : | $1,650,000 - 1,650,000 | 1 |
| Land : | $85,000 - 7,900,000 | 19 |
| Rentals : | $1,725 - 6,250 | 50 |
| Mixd Use : | $1,600,000 - 1,950,000 | 4 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $35,000 - 450,000 | 7 |
