Retail Space in Redevelopment
For Sale
Contact for pricing
2849 John F Kennedy Blvd, Jersey City, NJ 07306
The property carries multiple documented redevelopment, enterprise-zone, and tax-credit eligibility designations.
Property Size7,519 SF
Price / SF$458.84
Days on Market334
Property Features for 2849 John F Kennedy Blvd
General Information
Standard status
Active
Size
7,519 SF
Property subtype
RETAIL
Additional Details
Opportunity Zone
Yes
Listing Agency:
Pierson Commercial Real Estate
(201) 304-8645
Listed By:
Robert Mackowski
(201) 304-8645
Source:
Moodyscre
Added: Oct 2, 2025
Changed: Aug 29
Last Checked: Aug 30 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 Pierson Commercial Real Estate
Investment Insights
Based on property information with market context.
This 7,519-square-foot retail space is located at 2849 John F Kennedy Blvd in Jersey City, New Jersey. The property falls within the Journal Square 2060 Redevelopment Plan and is identified within several public-sector eligibility areas.
Recorded designations include an Opportunity Zone, Urban Enterprise Zone, and eligibility for the New Jersey Redevelopment Authority’s municipality program. The site is also located in a census tract eligible for New Market Tax Credits, the Neighborhood Preservation Program, and the Neighborhood Revitalization Tax Credit. Additional classifications include a Housing and Mortgage Finance Agency Urban Target Area, a targeted HMFA urban municipality, and a Smart Growth Area.
Recorded designations include an Opportunity Zone, Urban Enterprise Zone, and eligibility for the New Jersey Redevelopment Authority’s municipality program. The site is also located in a census tract eligible for New Market Tax Credits, the Neighborhood Preservation Program, and the Neighborhood Revitalization Tax Credit. Additional classifications include a Housing and Mortgage Finance Agency Urban Target Area, a targeted HMFA urban municipality, and a Smart Growth Area.
Key Highlights
- 7,519 square feet of retail space at 2849 John F Kennedy Blvd
- Within the Journal Square 2060 Redevelopment Plan
- Located in an Opportunity Zone and Urban Enterprise Zone
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
$124,251
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
3.60%
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%
$2,485,020
$2.5M
Cap Rate 7%
$1,775,014
$1.8M
Cap Rate 9%
$1,380,567
$1.4M
Market Conditions
NOI Build-Up for 7,519 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
$194.0K $25.80/SF
− Vacancy
−$16.5K −$2.19/SF
EGI
$177.5K $23.61/SF
− OpEx
−$53.3K −$7.08/SF
NOI
$124.3K $16.52/SF
Area
Jersey City, NJ
Vacancy
8.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,485,020
Cap Rate 7%
$1,775,014
Cap Rate 9%
$1,380,567
Alternative Uses
Best Use
Retail
$1.78M
$1.55M – $2.07M
NOI $124,251 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.44M
$2.13M – $2.84M
NOI $170,645 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,836
Businesses Nearby
111k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 19%
Apparel 5%
Electronics 5%
White Castle
Dining
27,307 visits/mo
0.3 miles
McDonald's
Dining
20,888 visits/mo
0.0 miles
Dunkin' Donuts
Dining
13,894 visits/mo
0.2 miles
Chase Bank
Shops & Services
11,854 visits/mo
0.2 miles
Rainbow
Apparel
5,662 visits/mo
0.1 miles
Demographics for 07306, NJ
55,342
Population
24,770
Households
2.2
Avg Household Size
34
Median Age
50%
College-Educated
87%
High-School Grad
3.0 sq mi
ZIP Area
18,447
Density / Sq Mi
$75,861
Median Household Income
$49,522
Median Earnings
$1,619
Median Rent
$502,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The property carries multiple documented redevelopment, enterprise-zone, and tax-credit eligibility designations.
Where is this retail space located?
The property is located at 2849 John F Kennedy Blvd Jersey City, NJ.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: 7,519 square feet of retail space at 2849 John F Kennedy Blvd; Within the Journal Square 2060 Redevelopment Plan; Located in an Opportunity Zone and Urban Enterprise Zone
