Jersey City Multifamily Investment
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33-35 Storms Ave, Jersey City, NJ 07306
12-unit multifamily property with value-add potential in Jersey City.
Property Size7,950 SF
Price / SF$366.67
Days on Market158
Property Features for 33-35 Storms Ave
General Information
Standard status
Active
Size
7,950 SF
Property subtype
Multifamily
Net Operating Income
$174,886
Building Details
Buildings
1
Stories
3
Units
12
Listing Agency:
Matthews
Listed By:
David Ferber · License #1974915
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Jul 21 at 1:52PM
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 Matthews
Investment Insights
Based on property information with market context.
This multifamily property in Jersey City features 12 units and presents a value-add opportunity. The property offers potential for a 16% upside and currently operates at a 6% cap rate. The building has a total size of 7950 square feet. This property is suitable for residential income purposes.
Key Highlights
- 16% upside potential
- Solid 6% cap rate
- 12‑unit multifamily property
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
$161,843
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
5.55%
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%
$3,236,860
$3.2M
Cap Rate 7%
$2,312,043
$2.3M
Cap Rate 9%
$1,798,256
$1.8M
Market Conditions
NOI Build-Up for 7,950 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
$309.1K $38.88/SF
− Vacancy
−$14.8K −$1.87/SF
EGI
$294.3K $37.01/SF
− OpEx
−$132.4K −$16.66/SF
NOI
$161.8K $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%
$3,236,860
Cap Rate 7%
$2,312,043
Cap Rate 9%
$1,798,256
Alternative Uses
Best Use
Apartment 5plus
$2.31M
$2.02M – $2.70M
NOI $161,843 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.58M
$2.26M – $3.01M
NOI $180,426 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,973
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit multifamily property with value-add potential in Jersey City.
Where is this apartment building located?
The property is located at 33-35 Storms Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $2,915,000.
What are key features of this property?
This property features: 16% upside potential; Solid 6% cap rate; 12‑unit multifamily property
