Renovated Mixed-Use
For Sale
$1,950,000
541 Newark Ave, Jersey City, NJ 07306
Combines a commercial storefront with four apartments and an additional single-family residence.
Property Size5,150 SF
Days on Market91
Property Features for 541 Newark Ave
General Information
Standard status
Active
Size
5,150 SF
Property subtype
Mixed-Use
Occupancy
100%
Amenities
6 Unit Asset -5 Residential Apartments and 1 Commercial Unit
Minimal Landlord Responsibility -All Separate Utilities
Located In Journal Square -One Block Away From City Hall
Building Details
Building Size
5,150 SF
Units
6
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Alan Cafiero · License #License(s): NJ: 0791092
(201) 742-6118
Source:
Marcusmillichap
Added: Jul 18
Changed: Oct 4
Last Checked: Oct 16 at 5:43AM
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 Marcus & Millichap - New Jersey
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Investment Insights
Based on property information with market context.
Located at 541 Newark Ave in Jersey City’s Journal Square, this renovated mixed-use property combines a commercial storefront with residential accommodations. The commercial space is currently used as a bike shop, while the residential component includes four two-bedroom, two-bath apartments and an additional three-bedroom, one-bath single-family unit.
Recent improvements include updated finishes and energy-efficient appliances. The property offers access to public transportation in a high-foot-traffic setting and is not subject to rent control. A projected 6.2% cap rate is provided in the listing information.
Recent improvements include updated finishes and energy-efficient appliances. The property offers access to public transportation in a high-foot-traffic setting and is not subject to rent control. A projected 6.2% cap rate is provided in the listing information.
Key Highlights
- Fully renovated mixed‑use property at 541 Newark Ave, Jersey City, NJ 07306
- Commercial space currently used as a bike shop
- Four apartments, each with 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,841
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,096,820
$2.1M
Cap Rate 7%
$1,497,729
$1.5M
Cap Rate 9%
$1,164,900
$1.2M
Market Conditions
NOI Build-Up for 5,150 SF
Gross rent
$200.2K $38.88/SF
− Vacancy
−$9.6K −$1.87/SF
EGI
$190.6K $37.01/SF
− OpEx
−$85.8K −$16.66/SF
NOI
$104.8K $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 Rate 5%
$2,096,820
Cap Rate 7%
$1,497,729
Cap Rate 9%
$1,164,900
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,841 @ 7.0% cap · market cap 5.38%
Second Best
Mixed Use
$1.23M
$1.07M – $1.43M
NOI $85,925 @ 7.0% cap · market cap 4.41%
Theoretical Best
Multifamily LT 5
$1.67M
$1.46M – $1.95M
NOI $116,880 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,684
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a commercial storefront with four apartments and an additional single-family residence.
Where is this mixed-use property located?
The property is located at 541 Newark Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Fully renovated mixed‑use property at 541 Newark Ave, Jersey City, NJ 07306; Commercial space currently used as a bike shop; Four apartments, each with 2 bedrooms and 2 bathrooms
