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635 Newark Ave 3,000 sq ft 100% Let Retail Property Jersey City, NJ 07306 £1,309,053 (£436.35/sq ft)
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 Offer
Sale Type
Investment
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Shopfront Retail / Residential
Property Size
3,000 sq ft
Costar Property Class
C
Year Built
1920
Price
£1,309,053
Price per sq ft
£436.35
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Floor To Floor Height
12 ft
Plot ratio
1.15
Total Plot Size
0.06 ac
Opportunity Zone
Yes
Use Class
Journal Sq 2060 Zone 5 - Journal Square 2060 Redevelopment Plan Zone 5 Commercial Main Street.
Frontage
22 ft on Newark Ave
Walk Score®
Excellent pedestrian access (97)
Transit Score®
Excellent Public Transport (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06-08001-0000-00013 | Improvements Assessment | £475,074 |
| Land Assessment | £148,185 | Total Assessment | £623,259 |
PROPERTY TAXES
Parcel Number
06-08001-0000-00013
Land Assessment
£148,185
Improvements Assessment
£475,074
Total Assessment
£623,259
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635 Newark Ave
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