Corner Mixed-Use
For Sale
$2,700,000
188 Carteret Ave, Jersey City, NJ 07305
The building has window-unit cooling and natural-gas baseboard heat.
Property Size10,698 SF
Days on Market22
Property Features for 188 Carteret Ave
General Information
Standard status
Active
Size
10,698 SF
Zoning
R-1
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$22,668
Amenities
Window Unit(s)
Baseboard, Natural Gas
On Street
Building Details
Building Size
10,698 SF
Year Built
1900
Listed By:
LAURIE O CONNOR
(201) 835-5602
Source:
Evrealestate
Added: Sep 4
Changed: Sep 24
Last Checked: Sep 24 at 2:28PM
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 LAURIE O CONNOR
Investment Insights
Based on property information with market context.
This mixed-use property dates to 1900 and is equipped with window-unit cooling and baseboard heat fueled by natural gas. On-street parking is available.
The property occupies the corner of Ocean Avenue and Carteret Avenue in Jersey City. It is zoned R-1.
The property occupies the corner of Ocean Avenue and Carteret Avenue in Jersey City. It is zoned R-1.
Key Highlights
- Built in 1900
- Corner location at Ocean Avenue and Carteret Avenue
- Window‑unit cooling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$210,877
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,217,540
$4.2M
Cap Rate 7%
$3,012,529
$3.0M
Cap Rate 9%
$2,343,078
$2.3M
Market Conditions
NOI Build-Up for 10,698 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$301.7K $28.20/SF
− Vacancy
−$20.5K −$1.92/SF
EGI
$281.2K $26.28/SF
− OpEx
−$70.3K −$6.57/SF
NOI
$210.9K $19.71/SF
Area
Jersey City, NJ
Vacancy
6.80%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,217,540
Cap Rate 7%
$3,012,529
Cap Rate 9%
$2,343,078
Alternative Uses
Best Use
Specialty Retail
$3.01M
$2.64M – $3.51M
NOI $210,877 @ 7.0% cap · market cap 7.81%
Second Best
Mixed Use
$2.55M
$2.23M – $2.97M
NOI $178,491 @ 7.0% cap · market cap 6.61%
Theoretical Best
Multifamily LT 5
$3.47M
$3.03M – $4.05M
NOI $242,792 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,039
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 34%
Electronics 2%
McDonald's
Dining
13,505 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,288 visits/mo
0.1 miles
Family Dollar
Shops & Services
9,584 visits/mo
0.1 miles
Valero Energy
Shops & Services
2,561 visits/mo
0.3 miles
SUBWAY
Dining
1,784 visits/mo
0.5 miles
Demographics for 07305, NJ
67,947
Population
28,297
Households
2.4
Avg Household Size
36
Median Age
35%
College-Educated
88%
High-School Grad
5.7 sq mi
ZIP Area
11,921
Density / Sq Mi
$77,126
Median Household Income
$47,822
Median Earnings
$1,610
Median Rent
$418,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building has window-unit cooling and natural-gas baseboard heat.
Where is this mixed-use property located?
The property is located at 188 Carteret Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Built in 1900; Corner location at Ocean Avenue and Carteret Avenue; Window‑unit cooling
