Storefront Commercial
334a Martin Luther King Jr Dr, Jersey City, NJ 07305
For Sale
$200,000
The commercial condo includes a rear patio and cellar storage, with an existing hair-braiding salon use.
Property Size729 SF
Price / SF$274.35
Days on Market198
Property Features for 334a Martin Luther King Jr Dr
General Information
Standard status
Size
Property subtype
Additional Details
Currently Operating
Amenities
rear patio
cellar storage
9
56x104
Listing Agency:
(551) 239-8040
Listed By:
Andrea Lew
Source:
Skyrealtyintl
Added: Apr 27
Changed: Nov 10
Last Checked: Nov 9 at 2:06PM
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 Andrea Lew
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Investment Insights
Based on property information with market context.
This 729-square-foot commercial condominium is configured as a storefront and currently operates as a hair-braiding salon. The space also includes a rear patio and cellar storage.
The property is located at 334a Martin Luther King Jr Dr in Jersey City, New Jersey.
The property is located at 334a Martin Luther King Jr Dr in Jersey City, New Jersey.
Key Highlights
- 729‑square‑foot commercial condominium
- Currently operating as a hair‑braiding salon
- Rear patio and cellar storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,047
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
$418,200
Median Home Value
Market
Average Price Trend$/SF for Storefront properties in Jersey City, NJ
Properties on Market for Storefront properties in Jersey City
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Entenmann's Florist — 1731 John F. Kennedy Blvd West, Jersey City, NJ 07305
- Da Carmen — 192 Arlington Ave, Jersey City, NJ 07305
- Petals Couture — 78 orient ave, jersey city, nj 07305
- Floral Expressions of Hudson — 78 Orient Ave, Jersey City, NJ 07305
- FLowers & Favors, LLC — 728 Grand St, Jersey City, NJ 07304
Frequently Asked Questions
What type of property is this?
Storefront property - The commercial condo includes a rear patio and cellar storage, with an existing hair-braiding salon use.
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: 729‑square‑foot commercial condominium; Currently operating as a hair‑braiding salon; Rear patio and cellar storage
