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    372-74 Summit Ave, Unit JC Jersey City, NJ 07306

    For Sale
    $3,050,000

    Investment - JC, Journal Square, NJ

    Days on Market:
    38
    Last Refresh:
    Dec 7 at 5:06 am

    Property Features for 372-74 Summit Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    Building Details

    Floors in Building
    3
    Number of units
    8
    Architectural style
    Other

    Prominent Properties (201) 795-5200 [email protected]

    Listing agent INGRID HART (201) 795-5200 License #0018531

    Listing date Oct 31, 2025

    MLS# 250022451 Listing URL

    Copyright © 2025 Hudson County Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Journal Square Redevelopment Opportunity

    Two adjacent properties, with combined dimensions of 50 feet by 100 feet, are available within a designated redevelopment zone. This presents a development opportunity in Journal Square, near transit, parks, and commercial areas. The location is positioned for developers seeking long-term value in a dynamic urban market. Potential uses include student housing, residential, retail, or mixed-use development. The properties are located a few blocks from the Journal Square PATH Station, providing access to New York City. The site benefits from high visibility and steady street traffic, with proximity to two major campuses. It is situated within one of New Jersey’s fastest-growing development corridors, offering the potential to impact the future of Journal Square.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    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
    -74.0628521
    Latitude
    40.7282472

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    FAQs

    What type of property is this?
    Commercial land - Two side-by-side properties in Journal Square redevelopment zone.
    Where is this commercial land located?
    The property is located at 372-74 Summit Ave, Unit JC Jersey City, NJ.
    What is the asking price?
    The asking price for this property is $3,050,000.
    What are key features of this property?
    This property features: - Prime location in a designated redevelopment zone of Journal Square.; - Total land area of 50’ x 100’ suitable for large-scale development.; - Ideal for student housing, residential, retail, or mixed-use projects.
    (201) 795-5200
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    372-74 Summit Ave, Unit JC Jersey City, NJ 07306
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    Realmo Value Estimation

    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.

    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.

    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
    372-74 Summit Ave, Unit JC Jersey City, NJ 07306
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