Add Listing
    For Lease
    • 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

    131 Armstrong Ave Jersey City, NJ 7305

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,750 /Mo

    Mint condition, 3 bed, 2 bath apartment near transportation.

    Type:Multi Family
    Lot size:
    0.05 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    12
    Last Refresh:
    Mar 21 at 7:34 am

    Property Features for 131 Armstrong Ave

    General Information

    Standard status
    Active
    Lot size
    0.05 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1923

    We can help!

    Listing Contact
    OLATUBOSUN MODILE

    Listing agent OLATUBOSUN MODILE

    Listing office KELLER WILLIAMS REALTY

    Listing date Mar 24, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY

    Overview

    Renovated Apartment Near Transportation

    This is a beautifully renovated second-floor apartment featuring 3 bedrooms and 2 bathrooms. The unit includes a new eat-in kitchen, spa-like baths, a living room, and a dining room. It is equipped with an in-unit washer and dryer, forced hot air, and central cooling. All bedrooms have closets, and there is recessed lighting throughout. The main bedroom includes an en-suite bathroom. The property is conveniently located close to major highways, shopping, and within walking distance of the NYC train station and bus, making it ideal for commuters.
    Location Intelligence

    Current Use by Public Records

    Multifamily 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
    -74.0861186
    Latitude
    40.7020079

    Nearby Similar for Lease

    • Contact for pricing

      Journal Square Office Space Available

      1,300 SF office space in vibrant Journal Square, NJ.
      35 JOURNAL SQUARE, JC, Journal Square, NJ 07306
      View Details
    • Contact for pricing

      Central Avenue Retail Space Available

      Prime retail space with finished basement in high-traffic area.
      335 CENTRAL AVE, JC, Heights, NJ 07307
      View Details
    • Contact for pricing

      West Bergen Church/Office/Daycare Space

      Well-maintained space suitable for church, daycare, or office use.
      162 MALLORY AVE, JC, West Bergen, NJ 07304
      View Details
    • Contact for pricing

      West Bergen Retail Space Available

      Retail space for rent in a high-traffic West Bergen area.
      447 WEST SIDE AVE, JC, West Bergen, NJ 07305
      View Details
    • Contact for pricing

      Newly Renovated Retail/Office Space

      Prime Jersey City location with high visibility and flexible layout.
      2321 JOHN F KENNEDY BLVD, JC, West Bergen, NJ 07304
      View Details
    • Contact for pricing

      Versatile Office Suite in Jersey

      Professionally designed office suite in the heart of Jersey City.
      47 KENSINGTON AVE, JC, Journal Square, NJ 07304
      View Details
    • $21,875/mo

      Downtown JC Office/Retail Space

      3,500 sq ft commercial space in Downtown Jersey City.
      190 CHRISTOPHER COLUMBUS DR, JC, Downtown, NJ 07302
      View Details
    • Contact for pricing

      Retail Space on JFK Boulevard

      Ground-level retail space with high visibility and customizable layout.
      2321 JOHN F KENNEDY BLVD, JC, West Bergen, NJ 07304
      View Details
    • Contact for pricing

      Retail Space Near Grove PATH

      Prime retail space in Downtown Jersey City near Grove PATH.
      139 CHRISTOPHER COLUMBUS DR, JC, Downtown, NJ 07302
      View Details
    • Contact for pricing

      Jersey City Retail Space Available

      Prime retail location in a high-traffic area of Jersey City.
      449 Hoboken Ave, Jersey City, NJ 07306-2639
      View Details
    • Contact for pricing

      Downtown Jersey City Retail Space

      Prime retail space near Grove Street PATH station.
      139 CHRISTOPHER COLUMBUS DR, JC, Downtown, NJ 07302
      View Details
    • $28,000/mo

      Retail Space Near Grove PATH

      Prime retail space in Downtown Jersey City near Grove PATH.
      139 CHRISTOPHER COLUMBUS DR, JC, Downtown, NJ 07302
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Mint condition, 3 bed, 2 bath apartment near transportation.
    Where is this multifamily property located?
    The property is located at 131 Armstrong Ave Jersey City, NJ.
    What is the lease rate?
    The lease rate is $2,750 /Mo.
    What are key features of this property?
    This property features: Walking distance to NYC train station/bus for easy commuting.; Newly renovated with **3 bedrooms and 2 spa‑like bathrooms.**; **New eat‑in kitchen and in‑unit washer/dryer.**
    (908) 220-3484
    We can help!
    Listing Contact
    OLATUBOSUN MODILE
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!