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1180 Summit Ave
Jersey City, NJ 07307
Recently Renovated 100% Leased Mix-Use Asset · Retail Property For Sale
Investment Highlights
- Located between The Holland and Lincoln Tunnels and accessible to PATH mass transit services, making connecting to New York City a breeze.
- Significant upgrades include new utilities, an updated lobby, plumbing, and a new roof, ensuring minimal maintenance.
- Jersey City’s rental market is characterized by low vacancies and rental rate growth of 2.2%, with 70% of residents being renters, ensuring demand.
- Fully occupied ±5,300-square-foot mixed-use asset offers recently renovated residential units, two retail units, and income-generating storage units.
- The Heights neighborhood features breathtaking New York City skyline views and a dense population with a median household income of $112,000.
- Increased retail leasing activity supported by surrounding apartment developments enhances the property’s investment potential.
Property Facts
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,319 SF
Building Class
C
Year Built/Renovated
1950/2020
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
2.44
Lot Size
0.05 AC
Frontage
31’ on Summit Ave
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Numbers | Improvements Assessment | $715,800 | |
| Land Assessment | $225,400 | Total Assessment | $941,200 |
Property Taxes
Parcel Numbers
Land Assessment
$225,400
Improvements Assessment
$715,800
Total Assessment
$941,200
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