Corner Mixed-Use
188 Carteret Ave, Jersey City, NJ 07305
For Sale
$2,700,000
The building has window-unit cooling and natural-gas baseboard heat.
Property Size10,698 SF
Days on Market67
Property Features for 188 Carteret Ave
General Information
Standard status
Size
Zoning
Additional Details
Corner Location
Taxes and HOA fees
Annual Taxes
Amenities
Window Unit(s)
Baseboard, Natural Gas
On Street
Building Details
Building Size
Year Built
Listed By:
LAURIE O CONNOR
(201) 835-5602
Source:
Evrealestate
Added: Sep 4
Changed: Oct 31
Last Checked: Nov 8 at 6:08AM
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
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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 / Yr
$210,877
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
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Market
Properties on Market for Mixed-use properties in Jersey City
Vacancy Rate% for Retail in Northeast region
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
