MLS# : 24023741
CALLING ALL INVESTORS: Rare opportunity to acquire a unique mixed-use development site in one of Jersey City's prime retail and residential areas. This 25 x 127-foot lot, currently housing a convenience store with an apartment above, can be developed as of right into a 5-story project totaling 12,500 gross buildable square feet. There is existing income from these tenants to cover holding costs during planning, making this property ideal for investment. Comparable condo projects in the area command prices of approximately $600 per square foot, suggesting a potential sellout value of around $5.6 million. Moreover, the lot size exceeds the typical 25x100 dimensions found in Jersey City, offering a standout opportunity for retail or residential development. Please note seller's agent is related to seller.
This listing is a courtesy of Weichert Realtors, Fort Lee
(201) 592-1400 office, listing agent Akash Sharma
Population: | 267,345 |
Total Housing Units: | 104,018 |
Single Family Homes: | 36,684 |
Apartments: | 67,334 |
General Tax Rate (2023): | 2.246% |
Effective Tax Rate (2023): | 1.944% |
Compare To Other Towns |
Average Price* (12mo): | $653,199 |
Apatments Sold* (12mo): | 1,013 |
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Madison Adams are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
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All information deemed reliable but not guaranteed. Last date updated: 11/05/2024 00:05 AM
Source: New Jersey Multiple Listing Service, Inc.
“©2024 New Jersey Multiple Listing Service, Inc. All rights reserved.”
General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.
Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.
Data Source: US Census 2010, NJ MLS, State of New Jersey Department of the Treasury