Storefront Retail Condo with
For Sale
$200,000
334a Martin Luther King Jr Dr, Jersey City, NJ 07305
Open-plan commercial condominium currently operating as a hair braiding salon, with additional storage below.
Property Size729 SF
Price / SF$274.35
Days on Market130
Property Features for 334a Martin Luther King Jr Dr
General Information
Standard status
Active
Size
729 SF
Property subtype
Commercial Retail
Amenities
Rear patio
cellar storage
Building Details
Units
9
Listing Agency:
Erealty Advisors, Inc.
(914) 712-6330
Listed By:
Umar Khawaja
(914) 712-6330
Source:
Betterhomerealestate
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 10:33PM
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 Erealty Advisors, Inc.
Investment Insights
Based on property information with market context.
This 729-square-foot commercial condominium presents a storefront-oriented retail layout in Jersey City. The space is currently operating as a hair braiding salon and features an open interior that can be adapted to different configurations. A rear patio adds outdoor area, while cellar storage provides supplemental space for the business.
Located at 334a Martin Luther King Jr Dr, Jersey City, NJ 07305, the property sits within a residential area experiencing new development. The surrounding setting combines established residential activity with ongoing construction, supporting a range of storefront, office, beauty, and boutique applications identified for the space.
Located at 334a Martin Luther King Jr Dr, Jersey City, NJ 07305, the property sits within a residential area experiencing new development. The surrounding setting combines established residential activity with ongoing construction, supporting a range of storefront, office, beauty, and boutique applications identified for the space.
Key Highlights
- 729sqft commercial condominium
- Currently operating as a hair braiding salon
- Open layout supports interior customization
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
$12,047
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
6.02%
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%
$240,940
$240.9K
Cap Rate 7%
$172,100
$172.1K
Cap Rate 9%
$133,856
$133.9K
Market Conditions
NOI Build-Up for 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
$18.8K $25.80/SF
− Vacancy
−$1.6K −$2.19/SF
EGI
$17.2K $23.61/SF
− OpEx
−$5.2K −$7.08/SF
NOI
$12.0K $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%
$240,940
Cap Rate 7%
$172,100
Cap Rate 9%
$133,856
Alternative Uses
Best Use
Retail
$172.1K
$150.6K – $200.8K
NOI $12,047 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$236.4K
$206.8K – $275.8K
NOI $16,545 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,068
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 34%
Electronics 2%
McDonald's
Dining
13,505 visits/mo
0.2 miles
Dunkin' Donuts
Dining
11,288 visits/mo
0.1 miles
Family Dollar
Shops & Services
9,584 visits/mo
0.2 miles
Valero Energy
Shops & Services
2,561 visits/mo
0.5 miles
SUBWAY
Dining
1,784 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan commercial condominium currently operating as a hair braiding salon, with additional storage below.
Where is this storefront property located?
The property is located at 334a Martin Luther King Jr Dr Jersey City, NJ.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 729sqft commercial condominium; Currently operating as a hair braiding salon; Open layout supports interior customization
