541 Newark Ave
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541 Newark Ave
3,690 SF 100% Leased Retail Building Jersey City, NJ 07306 $2,844,000 CAD ($771 CAD/SF) 5.20% Cap Rate
Investment Highlights
- LOCATION LOCATION LOCATION!
- NEWL RENOVATED
- Below market rents and NO RENT CONTROL
Executive Summary
Turnkey VALUE-ADD investment opportunity located in the booming Journal Square neighborhood of Jersey City. $104,080 NOI.
Fully occupied; BEAUTIFULLY renovated mixed-use (4 residential over 1 commercial) building with an additional (un-renovated) 3BR carriage house in the rear of property. The residential units in main building are (Three) 2BR/2BA units & (one) 1.5BR/1BA unit. NO RENT CONTROL.
Commercial tenant is currently on a below market month-to-month lease and the carriage home is ideal for an owner/user looking to renovate and move. Perfect opportunity to have tenants pay your mortgage and live practically rent free. Easy upside potential here.
7 minute walk to the PATH at Journal Square Station which brings commuters directly to Manhattan. Property works as-is for an investor but is also suitable for an owner/user. Commercial space is roughly 900 sq/ft
Fully occupied; BEAUTIFULLY renovated mixed-use (4 residential over 1 commercial) building with an additional (un-renovated) 3BR carriage house in the rear of property. The residential units in main building are (Three) 2BR/2BA units & (one) 1.5BR/1BA unit. NO RENT CONTROL.
Commercial tenant is currently on a below market month-to-month lease and the carriage home is ideal for an owner/user looking to renovate and move. Perfect opportunity to have tenants pay your mortgage and live practically rent free. Easy upside potential here.
7 minute walk to the PATH at Journal Square Station which brings commuters directly to Manhattan. Property works as-is for an investor but is also suitable for an owner/user. Commercial space is roughly 900 sq/ft
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,690 SF
Building Class
C
Year Built
1930
Price
$2,844,000 CAD
Price Per SF
$771 CAD
Cap Rate
5.20%
NOI
$147,888 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.41
Lot Size
0.06 AC
Zoning
NC
Frontage
28 ft on Newark Ave
Amenities
- Bus Line
- Signage
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (83)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 06-09601-0000-00011 | Improvements Assessment | $681,422 CAD |
| Land Assessment | $278,428 CAD | Total Assessment | $959,850 CAD |
PROPERTY TAXES
Parcel Number
06-09601-0000-00011
Land Assessment
$278,428 CAD
Improvements Assessment
$681,422 CAD
Total Assessment
$959,850 CAD
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541 Newark Ave
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