7
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$1,699,999
Est. payment /mo
Active
420 CENTRAL AVE Jc Heights, NJ 07307
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UPDATED:
07/25/2024 03:29 PM
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240014346
Property Description
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.
Location
State NJ
County Hudson
Area Jc Heights
Listed by WEICHERT REALTORS
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