Brick Mixed-Use Property with
For Sale
Contact for pricing
593 Ocean Ave, Jersey City, NJ 07305
Two first-floor commercial units and two second-floor residential units in a fully leased brick mixed-use building with separate utilities.
Property Size2,973 SF
Price / SF$302.39
Days on Market484
Property Features for 593 Ocean Ave
General Information
Standard status
Active
Size
2,973 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Stories
2
Construction
brick
Listing Agency:
Cervelli Real Estate & Property Management
(201) 868-6300
Listed By:
Gary Baez · License #1434899
(551) 200-3787
Source:
Moodyscre
Added: Apr 4, 2025
Changed: Jul 27
Last Checked: Jul 31 at 12:44PM
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 Cervelli Real Estate & Property Management
Investment Insights
Based on property information with market context.
This 2-story brick mixed-use property includes two commercial units on the first floor and two residential units on the second floor. The property also features an additional building with four garages and storage space. It is described as fully leased, with separate utilities.
Additional site details indicate the property is complemented by the garage and storage building, supporting a mixed-use setup across commercial and residential components.
Overall, the configuration provides income through both street-level retail space and above-floor residential units, along with dedicated accessory structures for parking and storage.
Additional site details indicate the property is complemented by the garage and storage building, supporting a mixed-use setup across commercial and residential components.
Overall, the configuration provides income through both street-level retail space and above-floor residential units, along with dedicated accessory structures for parking and storage.
Key Highlights
- 2‑story brick mixed‑use property with 2 commercial units on the first floor and 2 residential units on the second floor
- Fully leased property with separate utilities
- Additional building includes 4 garages and storage unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.7k | $34.20 |
| − Vacancy | −$5.3k | −$1.78 |
| EGI | $96.4k | $32.42 |
| − OpEx | −$28.9k | −$9.73 |
| NOI | $67.5k | $22.70 |
2,973 SF · lease $34.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$963.9K
$843.4K – $1.12M
NOI $67,473 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$864.6K
$756.5K – $1.01M
NOI $60,523 @ 7.0% cap · market cap 6.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
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
Properties on Market for Mixed-use properties in Jersey City
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two first-floor commercial units and two second-floor residential units in a fully leased brick mixed-use building with separate utilities.
Where is this mixed-use property located?
The property is located at 593 Ocean Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2‑story brick mixed‑use property with 2 commercial units on the first floor and 2 residential units on the second floor; Fully leased property with separate utilities; Additional building includes 4 garages and storage unit
