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469 MLK Jr. Dr 469 Martin Luther King Jr Dr 2,962 SF 66% Leased Retail Building Jersey City, NJ 07304 $485,000 ($163.74/SF)
Executive Summary
Mixed-use value-add opportunity in Jersey City’s Bergen-Lafayette neighborhood, just three blocks from the Hudson-Bergen Light Rail, providing convenient access to Downtown Jersey City and PATH connections
The property is framed, with most plumbing and electrical work completed, and currently configured as a four-bedroom, two-bath residential unit above a commercial space. You could split the residential unit into two residential units to maximize profit.
Located within the Jackson Hill Redevelopment Plan area, you could build up to four stories as of right. With Arlington Park and Berry Lane Park nearby, this is a compelling opportunity to complete the existing build-out and potentially add stories to maximize the property’s development capacity.
The property is framed, with most plumbing and electrical work completed, and currently configured as a four-bedroom, two-bath residential unit above a commercial space. You could split the residential unit into two residential units to maximize profit.
Located within the Jackson Hill Redevelopment Plan area, you could build up to four stories as of right. With Arlington Park and Berry Lane Park nearby, this is a compelling opportunity to complete the existing build-out and potentially add stories to maximize the property’s development capacity.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Building in Shell Condition
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,962 SF
Building Class
C
Year Built
1972
Price
$485,000
Price Per SF
$163.74
Percent Leased
66%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.41
Lot Size
0.05 AC
Zoning
Jackson - Jackson Hill -- build up to 4 stories high.
Frontage
17’ on Martin Luther King Jr Dr
Exceptionally walkable
100/100
Fairly drivable
50/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-19502-0000-00003 | Total Assessment | $205,700 (2026) |
| Land Assessment | $36,500 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $169,200 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
06-19502-0000-00003
Land Assessment
$36,500 (2026)
Improvements Assessment
$169,200 (2026)
Total Assessment
$205,700 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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469 MLK Jr. Dr | 469 Martin Luther King Jr Dr