Loft-Style Residential Income
For Sale
$715,000
300 Communipaw Ave 160, Jersey City, NJ 07304
Two-bedroom residence with historic industrial details, modern finishes, private parking, and access to community amenities.
Property Size1,729 SF
Price / SF$413.53
Days on Market60
Property Features for 300 Communipaw Ave 160
General Information
Standard status
Active
Size
1,729 SF
Total Parking Spaces
1
Property subtype
Commercial
Additional Details
HOA Fee
$817.43
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$17,353
Amenities
24-hour doorman
fully equipped fitness center
landscaped outdoor courtyard
in-unit washer and dryer
Building Details
Year Built
1903
Construction
industrial conversion
Listing Agency:
EPIQUE REALTY
(866) 201-6210
Listed By:
HECTOR PEREZ · License #303642
Source:
Elliman
Added: Jul 4
Changed: Aug 31
Last Checked: Aug 31 at 5:43PM
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 EPIQUE REALTY
Investment Insights
Based on property information with market context.
Unit 160 is a loft-style residential income property within The Foundry Lofts, an adaptive reuse of a building constructed in 1903. The approximately 1,729-square-foot residence includes two bedrooms and two full bathrooms, with 14-foot ceilings, exposed brick, oversized industrial windows, and an open living and dining area. The kitchen has stainless steel appliances, while the primary bedroom includes generous closet space and an ensuite bath. An in-unit washer and dryer adds everyday convenience.
The gated community provides a 24-hour doorman, fitness center, landscaped courtyard, and one secure parking space. The property is located at 300 Communipaw Ave in Jersey City’s Bergen-Lafayette neighborhood, near coffee shops, restaurants, Liberty State Park, and the Light Rail station. Walk Score is 92, Transit Score is 75, and Bike Score is 56.
The gated community provides a 24-hour doorman, fitness center, landscaped courtyard, and one secure parking space. The property is located at 300 Communipaw Ave in Jersey City’s Bergen-Lafayette neighborhood, near coffee shops, restaurants, Liberty State Park, and the Light Rail station. Walk Score is 92, Transit Score is 75, and Bike Score is 56.
Key Highlights
- Approximately 1,729 square feet with 2 bedrooms and 2 full bathrooms
- 14‑foot ceilings, exposed brick, and large industrial windows
- Adaptive reuse of a building constructed in 1903
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
$35,198
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
4.92%
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%
$703,960
$704.0K
Cap Rate 7%
$502,829
$502.8K
Cap Rate 9%
$391,089
$391.1K
Market Conditions
NOI Build-Up for 1,729 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
$67.2K $38.88/SF
− Vacancy
−$3.2K −$1.87/SF
EGI
$64.0K $37.01/SF
− OpEx
−$28.8K −$16.66/SF
NOI
$35.2K $20.36/SF
Area
Jersey City, NJ
Vacancy
4.80%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
45.00%
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%
$703,960
Cap Rate 7%
$502,829
Cap Rate 9%
$391,089
Alternative Uses
Best Use
Apartment 5plus
$502.8K
$440.0K – $586.6K
NOI $35,198 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$560.6K
$490.5K – $654.0K
NOI $39,240 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 07304, NJ
48,681
Population
21,211
Households
2.3
Avg Household Size
35
Median Age
40%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
23,181
Density / Sq Mi
$68,432
Median Household Income
$47,673
Median Earnings
$1,572
Median Rent
$489,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with historic industrial details, modern finishes, private parking, and access to community amenities.
Where is this residential income property located?
The property is located at 300 Communipaw Ave 160 Jersey City, NJ.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Approximately 1,729 square feet with 2 bedrooms and 2 full bathrooms; 14‑foot ceilings, exposed brick, and large industrial windows; Adaptive reuse of a building constructed in 1903
