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

    298 Central Ave, Unit JC Jersey City, NJ 07307

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $6,000 /Mo

    3,000 sq ft retail space in bustling downtown neighborhood.

    Property Features for 298 Central Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Joseph Napolitano Jr
    Source: Corcoran

    Listing Agency: COLDWELL BANKER REALTY Listing Agent: Joseph Napolitano Jr

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

    Learn more

    Overview

    Prime Retail Space on Central

    This is an approximately 3,000 sq ft retail space located on Central Avenue, between Hutton and Griffith streets. The property benefits from high visibility and constant foot and vehicle traffic. It features separate utilities and is situated in a vibrant retail atmosphere. This location is suitable for retailers and entrepreneurs seeking to grow in a bustling neighborhood setting.
    Location Intelligence

    Current Use by Public Records

    Toy and Game World Arcade & Gaming Center My BFF Art Gallery

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    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
    -74.0498424
    Latitude
    40.7450462

    Nearby Similar for Lease

    • $3,000 /Mo

      Central Avenue Retail Space Available

      Prime retail space with finished basement in high-traffic area.
      335 Central Ave, Jersey City, NJ 07307
      View Details
    • $2,500 /Mo

      West Bergen Retail Space Available

      Retail space for rent in a high-traffic West Bergen area.
      447 WEST Side Ave, Jersey City, NJ 07305
      View Details
    • $3,700 /Mo

      Prime Storefront Office/Retail Space

      Storefront office/retail space in high-traffic Jersey City location.
      137 Monticello Ave, Jersey City, NJ 07304
      View Details
    • $3,700 /Mo

      Prime Retail/Office Space Available

      Storefront office/retail space in high-traffic area near shops and restaurants.
      137 Monticello Ave, Jersey City, NJ 07304
      View Details
    • $3,000 /Mo

      Office Space in West Bergen

      Office space for rent in West Bergen, near transportation.
      535 WEST Side Ave, Jersey City, NJ 07305
      View Details
    • $21,875

      Downtown JC Office/Retail Space

      3,500 sq ft commercial space in Downtown Jersey City.
      190 Christopher Columbus Dr, Jersey City, NJ 07302
      View Details
    • $28,000

      Retail Space Near Grove PATH

      Prime retail space in Downtown Jersey City near Grove PATH.
      139 Christopher Columbus Dr, Jersey City, NJ 07302
      View Details
    • $12,000 /Mo

      Downtown Jersey City Retail Space

      Prime retail space near Grove Street PATH station.
      139 Christopher Columbus Dr, Jersey City, NJ 07302
      View Details
    • $16,000 /Mo

      Retail Space Near Grove PATH

      Prime retail space in Downtown Jersey City near Grove PATH.
      139 Christopher Columbus Dr, Jersey City, NJ 07302
      View Details
    • $1,275 /Mo

      Prime Retail Space in Jersey City

      Retail space in a high-traffic area, Journal Square community.
      451 Hoboken Ave, Jersey City, NJ 07306
      View Details
    • $2,700 /Mo

      Jersey City Retail Space Available

      Prime retail location in a high-traffic area of Jersey City.
      449 Hoboken Ave, Jersey City, NJ 07306
      View Details
    • $5,200 /Mo

      Spacious Office with Juliet Balcony

      Inviting office space with high ceilings and open layout potential.
      190 Christopher Columbus Dr, Jersey City, NJ 07302
      View Details

    FAQs

    What type of property is this?
    Retail space - 3,000 sq ft retail space in bustling downtown neighborhood.
    Where is this retail space located?
    The property is located at 298 Central Ave, Unit JC Jersey City, NJ.
    What is the lease rate?
    The lease rate is $6,000 /Mo.
    What are key features of this property?
    This property features: - High visibility location on Central Avenue.; - Approximately 3,000 sq ft of retail space.; - Located in a high-traffic area with constant foot and vehicle traffic.
    (201) 963-1400
    Request Owner's contact information
    298 Central Ave, Unit JC Jersey City, NJ 07307
    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.
    298 Central Ave, Unit JC
    Jersey City, NJ 07307
    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
    298 Central Ave, Unit JC Jersey City, NJ 07307
    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

    We can help!
    Listing Contact
    Joseph Napolitano Jr
    (201) 963-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!