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635 Newark Ave 3,000 SF 100% Leased Retail Building Jersey City, NJ 07306 $1,750,000 ($583.33/SF)
INVESTMENT HIGHLIGHTS
- vacant for owners use
EXECUTIVE SUMMARY
This unique property is located in the Journal Square Area which is experiencing significant development, with a new county courthouse, a modern park to be constructed in the future and the development of many multi-story residential buildings within a few block radius. The property itself is a three-story frame and concrete structure, featuring a commercial office space on the ground floor, that can also be used as retail. The upper two floors each contain two-bedroom apartments. The property also includes a private
backyard. It is a short few blocks from the Path and Bus Terminal and convenient to the Holland Tunnel, NJ Turnpike and major highways. With the ongoing development in the neighborhood, this location is poised for increased demand and growth providing outstanding appreciation potential.
backyard. It is a short few blocks from the Path and Bus Terminal and convenient to the Holland Tunnel, NJ Turnpike and major highways. With the ongoing development in the neighborhood, this location is poised for increased demand and growth providing outstanding appreciation potential.
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,000 SF
Building Class
C
Year Built
1920
Price
$1,750,000
Price Per SF
$583.33
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
1.15
Lot Size
0.06 AC
Opportunity Zone
Yes
Zoning
Journal Sq 2060 Zone 5 - Journal Square 2060 Redevelopment Plan Zone 5 Commercial Main Street.
Frontage
22’ on Newark Ave
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06-08001-0000-00013 | Improvements Assessment | $635,100 |
| Land Assessment | $198,100 | Total Assessment | $833,200 |
PROPERTY TAXES
Parcel Number
06-08001-0000-00013
Land Assessment
$198,100
Improvements Assessment
$635,100
Total Assessment
$833,200
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635 Newark Ave
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