Commercial space For Sale in Jersey City, NJ
MLS# : 250025639
PROPERTY DETAILS
PROPERTY DESCRIPTION
Presenting 114 Neptune Avenue, a substantial 6-unit multifamily investment opportunity located in the dynamic Greenville section of Jersey City. Built in 1920 and sitting on a large 31x133 lot, this 4,908 square foot property combines historic charm with solid investment fundamentals, offering 6.5% Cap Rate. The building comprises six large apartments, typically featuring flexible railroad-style layouts that can function as spacious 2-bedroom or efficient 3-bedroom units. These "bright and airy" units have a history of strong occupancy due to their size and affordability relative to Downtown Jersey City. Recent improvements in select units ensure competitive rental rates while leaving room for future value-add cosmetic renovations to push the rent roll even higher. Ideally situated for commuters and students, the property boasts a "Very Walkable" Walk Score of 82. It is located just minutes from New Jersey City University (NJCU), making it a prime location for student housing or faculty rentals. For NYC commuters, the NJ Transit #81 and #6 buses stop just around the corner, connecting directly to the PATH and Exchange Place. The Hudson-Bergen Light Rail (Danforth Ave Station) is also easily accessible.
Amenities
This listing is a courtesy of COLDWELL BANKER REALTY
201-212-5026 office, listing agent JILL K BIGGS
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): | $738,325 |
| Homes Sold* (12mo): | 220 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $681,468 |
| Apatments Sold* (12mo): | 1,096 |
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 : | $379,999 - 2,895,000 | 47 |
| Condos : | $140,000 - 6,499,000 | 355 |
| Co-ops : | $410,000 - 449,000 | 2 |
| Twnhs : | $450,000 - 1,775,000 | 8 |
| 2-4 Fam : | $520,000 - 2,395,000 | 112 |
| 5+ Fam : | $1,400,000 - 1,650,000 | 3 |
| Land : | $499,000 - 4,500,000 | 13 |
| Rentals : | $1,680 - 7,500 | 35 |
| Mixd Use : | $1,400,000 - 1,899,000 | 5 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $18,500 - 900,000 | 10 |
