Commercial space For Sale in Jersey City, NJ
MLS# : 260000070
PROPERTY DETAILS
PROPERTY DESCRIPTION
Prime redevelopment opportunity in the heart of the Jersey City Heights business district, located on the same block as the much hyped Central Avenue Redevelopment Zone. The property sits on a 20’ x 120’ lot and features two side-by-side street-level commercial spaces with rear yard, offering strong redevelopment potential. Surrounded by mid-rise development this site benefits from an established density profile and long-term upside. A NYC bus stop directly in front of the property provides a quick and convenient commute to Manhattan, enhancing both residential and commercial appeal. Also located just under 2 miles to the burgeoning Journal Square Redevelopment Zone which aims to establish the area as a thriving business, residential, cultural, and transit hub. Currently income-producing with month-to-month tenants in place, allowing immediate cash flow with flexibility for redevelopment. A compelling opportunity for developers and investors seeking a well-located asset in one of Jersey City's most active growth corridors.
Amenities
This listing is a courtesy of COMPASS NEW JERSEY, LLC
551-212-3870 office, listing agent JOELLE CHILAZI
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 | 53 |
| Condos : | $175,000 - 6,499,000 | 389 |
| Co-ops : | $410,000 - 410,000 | 1 |
| Twnhs : | $450,000 - 1,775,000 | 9 |
| 2-4 Fam : | $530,000 - 2,395,000 | 112 |
| 5+ Fam : | $1,400,000 - 1,650,000 | 3 |
| Land : | $499,000 - 4,500,000 | 15 |
| Rentals : | $1,790 - 7,500 | 32 |
| Mixd Use : | $1,400,000 - 1,899,000 | 5 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $18,500 - 900,000 | 10 |
