Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    227 Martin Luther King Jr Dr Jersey City, NJ 07305

    Sponsored
    For Sale
    $500,000

    CommercialSale - Jersey City, NJ

    Property size:
    2,700 SF
    Lot size:
    0.03 Acres
    Days on Market:
    59
    Last Refresh:
    Feb 14 at 12:06 am

    Property Features for 227 Martin Luther King Jr Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,700 SF
    Lot size
    0.03 Acres

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Year built
    1920
    Number of units
    3
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Michele Chiles-Hickman

    Berkshire Hathaway HomeServices Fox & Roach, Realtors

    Listing agent Michele Chiles-Hickman (973) 744-5544

    Listing date Dec 18, 2025

    MLS# 3958628 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Building in Greenville

    Located in the Greenville section of Jersey City, this mixed-use building features three units. The property includes a storefront currently used as a worship center on the first level, with two two-bedroom units located above. The property's size is approximately 2,700 square feet, situated on a lot of about 0.03 acres. Each unit has separate heating, and utilities are covered by the individual tenants. The square footage is estimated. This property presents an opportunity for potential investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.08346
    Latitude
    40.70712

    Nearby Similar for Sale

    • New
      $600,000
      1,932 SF

      Updated Two-Family Home in Jersey

      Spacious, updated 2-family home in Jersey City's Greenville section.
      107 Bidwell Ave, Jersey City, NJ 07305
      View Details
    • $1,100,000
      2,412 SF

      Well-Maintained Two-Family Property

      Two-family property with historic charm and modern convenience in JC Heights.
      117 Palisade Ave, Jersey City, NJ 07306
      View Details
    • $1,339,999

      Mixed-Use Property in JC Heights

      Multi-unit property with commercial space in a high-demand area.
      76 Bowers St, Jersey City, NJ 07307
      View Details
    • $1,339,999

      Mixed-Use Property in JC Heights

      Mixed-use property with residential and commercial spaces in vibrant neighborhood.
      76 Bowers St, Jersey City, NJ 07307
      View Details
    • $2,090,000
      1,450 SF

      Modern Two-Family Home in JC Heights

      Luxurious two-unit residence in Jersey City Heights with modern amenities.
      68 Thorne St, Jersey City, NJ 07307
      View Details
    • New
      $875,000
      Pending

      Modernized Multi-Family in West Bergen

      Modernized multi-family home in Jersey City's West Bergen neighborhood.
      244 Clinton Ave, Jersey City, NJ 07304
      View Details
    • $1,525,000
      Pending

      Jersey City Four-Family Investment Property

      Four-family property in Jersey City Heights with strong rental income potential.
      183 Thorne St, Jersey City, NJ 07307
      View Details
    • $675,000
      Pending

      Two-Family Home in Jersey City

      Well-maintained, 5-bedroom, 2-bath two-family home with garage.
      107 Randolph Ave, Jersey City, NJ 07305
      View Details
    • $750,000

      West Bergen Two-Family Home

      Two-family home in West Bergen area, delivered vacant.
      333 Danforth Ave, Jersey City, NJ 07305
      View Details
    • $1,375,000

      Renovated Multifamily Building in Bergen-Lafayette

      Renovated 6-unit apartment building in Jersey City's Bergen-Lafayette neighborhood.
      221 Pacific Ave, Jersey City, NJ 07304
      View Details
    • $3,549,000
      12,000 SF

      Historic Church Investment Opportunity

      Historic church with redevelopment potential in a rapidly growing area.
      355 Fairmount Ave, Jersey City, NJ 07306
      View Details
    • $1,675,000

      Rare Jersey City Heights Multifamily

      Seven-unit multifamily property in Jersey City Heights with income potential.
      135-137 Griffith St, Jersey City, NJ 07307
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use, three-unit building in Jersey City's Greenville section.
    Where is this mixed-use property located?
    The property is located at 227 Martin Luther King Jr Dr Jersey City, NJ.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Mixed-use 3-unit building; - Storefront property with worship center on level one; - Two 2-bedroom units
    (201) 463-0958
    Request Owner's contact information
    227 Martin Luther King Jr Dr Jersey City, NJ 07305
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    227 Martin Luther King Jr Dr
    Jersey City, NJ 07305
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    227 Martin Luther King Jr Dr Jersey City, NJ 07305
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michele Chiles-Hickman
    (201) 463-0958 (973) 744-5544
    Learn more
    Google sign-in failed. Please try again or use another login method.