Commercial space For Sale in Jersey City, NJ
MLS# : 250020102
PROPERTY DETAILS
PROPERTY DESCRIPTION
Rare opportunity featuring 2 side by side 3-family buildings comprised of a corner lot and adjacent building on a combined 40’ x 77’ lot in the heart of Jersey City Heights, one of the area’s most desirable and rapidly appreciating neighborhoods. Apartments are all 2 bed/1bath. Building also offers 2 car parking adding additional income.***No Rent Control – $140,376 -Current Gross ***$222,000- Potential Gross. Investors may choose to reposition the asset and capture upside through lease turnover and targeted CapEx. With a projected 6.38% cap rate achievable through renovation and rent growth, the property offers both immediate income and long-term appreciation, all in a thriving location just minutes from Hoboken, Downtown Jersey City, Weehawken, and New York City. Contact agent for detailed income and expenses AND pricing on the complete three-building package.
Amenities
This listing is a courtesy of COMPASS NEW JERSEY, LLC
201-627-4947 office, listing agent GILLI AXEL
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): | $726,881 |
| Homes Sold* (12mo): | 217 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $681,984 |
| Apatments Sold* (12mo): | 1,113 |
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 : | $354,000 - 2,099,000 | 74 |
| Condos : | $149,000 - 4,048,000 | 509 |
| Co-ops : | $360,000 - 529,500 | 5 |
| Twnhs : | $3,000 - 2,099,000 | 19 |
| 2-4 Fam : | $400,000 - 2,750,000 | 135 |
| 5+ Fam : | $1,650,000 - 1,650,000 | 1 |
| Land : | $85,000 - 7,900,000 | 19 |
| Rentals : | $1,725 - 6,250 | 55 |
| Mixd Use : | $1,600,000 - 1,950,000 | 3 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $35,000 - 450,000 | 5 |
