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309 Martin Luther King Jr Dr 5,628 SF 64% Leased Retail Building Jersey City, NJ 07305 $1,500,000 ($266.52/SF) 9.57% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy foot traffic
- exposed Brick walls
- Parking lot behind building
EXECUTIVE SUMMARY
Rapid growing area with mass foot traffic as well as new developments happening. Only blocks away from Annex City Hall along with mins from Lite Rail train station which connects to the Path station to go to NYC.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
5,628 SF
Building Class
C
Year Built/Renovated
1901/2021
Price
$1,500,000
Price Per SF
$266.52
Cap Rate
9.57%
NOI
$143,500
Percent Leased
64%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.15
Lot Size
0.06 AC
Opportunity Zone
Yes
Zoning
multi unit - Two parcels combined can become a multi unit property from 15-30 units with parking lot behind attached for knockdown to maximized units check zoning
Frontage
AMENITIES
- Fenced Lot
- Property Manager on Site
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Hurlee Realty llc
- Real Estate
- 2,700 SF
- $100.00
- TBD
- Mar 2031
- Pa Pa Cafe
- Accommodation and Food Services
- 1,000 SF
- $220.00
- Negotiable
- Jan 2028
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Hurlee Realty llc | Real Estate | 2,700 SF | $100.00 | TBD | Mar 2031 | |
| Pa Pa Cafe | Accommodation and Food Services | 1,000 SF | $220.00 | Negotiable | Jan 2028 |
Walk Score®
Very Walkable (87)
Transit Score®
Excellent Transit (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06-23101-0000-00035 | Improvements Assessment | $585,300 |
| Land Assessment | $113,500 | Total Assessment | $698,800 |
PROPERTY TAXES
Parcel Number
06-23101-0000-00035
Land Assessment
$113,500
Improvements Assessment
$585,300
Total Assessment
$698,800
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HURLEE REALTY LLC
309 Martin Luther King Jr Dr
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