Brick Mixed-Use Property with
593 Ocean Ave, Jersey City, NJ 07305
For Sale
Contact for pricing
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 Market585
Property Features for 593 Ocean Ave
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Building Details
Stories
Construction
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: Nov 5
Last Checked: Nov 8 at 5:30AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$49,603
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,060
$992.1K
Cap Rate 7%
$708,614
$708.6K
Cap Rate 9%
$551,144
$551.1K
Market Conditions
NOI Build-Up for 2,973 SF
Gross rent
$87.4K $29.40/SF
− Vacancy
−$8.0K −$2.70/SF
EGI
$79.4K $26.70/SF
− OpEx
−$29.8K −$10.01/SF
NOI
$49.6K $16.68/SF
Area
Jersey City, NJ
Vacancy
9.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,060
Cap Rate 7%
$708,614
Cap Rate 9%
$551,144
Alternative Uses
Best Use
Mixed Use
$708.6K
$620.0K – $826.7K
NOI $49,603 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$701.8K
$614.1K – $818.8K
NOI $49,129 @ 7.0% cap · market cap 5.46%
Theoretical Best
Multifamily LT 5
$963.9K
$843.4K – $1.12M
NOI $67,473 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 34%
Electronics 2%
McDonald's
Dining
13,505 visits/mo
0.3 miles
Dunkin' Donuts
Dining
11,288 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,584 visits/mo
0.3 miles
Valero Energy
Shops & Services
2,561 visits/mo
0.2 miles
SUBWAY
Dining
1,784 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Jersey City
Vacancy Rate% for Retail in Northeast region
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
