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1017 Westside Ave 2,277 SF Specialty Building Offered at $895,000 at a 6.78% Cap Rate in Jersey City, NJ 07306
Investment Highlights
- Fully occupied mixed-use property with one commercial and one residential unit.
- Excellent transit access with PATH service to Manhattan in under 20 minutes.
- Surrounded by cultural attractions, retail, and ongoing development projects.
- Prime location in Jersey City’s Marion neighborhood near Journal Square.
- Strong income performance with a 6.78% cap rate and NOI of $60,689.
- Located in a high-demand, appreciating market with limited supply.
Executive Summary
1017 West Side Avenue is a fully leased mixed-use investment property located in the Marion section of Journal Square, Jersey City, NJ. The first floor features a commercial space currently occupied by the Jersey City Public Library, a long-standing tenant with a lease in place through May 2028 that includes a 4% annual rent increase. The tenant is responsible for maintenance costs. The second floor consists of a residential unit with two bedrooms, one bathroom, and a large private deck, leased on a yearly basis. Residential tenants pay all utilities except water.
The commercial space encompasses approximately 952 square feet and includes a large private garden of about 780 square feet. The residential apartment offers a total of 1,385 square feet, including a finished basement, along with an outdoor deck of approximately 430 square feet. Recent capital improvements include a new multi-zone split HVAC system for the commercial space installed in 2019, a new main copper water line with a street shutoff valve added in 2021, a new silicone roof completed in 2022, and a lead-safe certification passed in 2024.
The commercial space encompasses approximately 952 square feet and includes a large private garden of about 780 square feet. The residential apartment offers a total of 1,385 square feet, including a finished basement, along with an outdoor deck of approximately 430 square feet. Recent capital improvements include a new multi-zone split HVAC system for the commercial space installed in 2019, a new main copper water line with a street shutoff valve added in 2021, a new silicone roof completed in 2022, and a lead-safe certification passed in 2024.
Data Room Click Here to Access
- Offering Memorandum
- Miscellaneous
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (77)
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1017 Westside Ave
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