Fully Occupied Mixed-Use Pizzeria
For Sale
$899,900
Pending
722 West Side Avenue, Jersey City, NJ 07304
Mixed-use building with a leased ground-floor pizzeria and two residential apartments with annual rent increases.
Property Size4,400 SF
Days on Market70
Property Features for 722 West Side Avenue
General Information
Standard status
Pending
Size
4,400 SF
Property subtype
Multi-Family / Multiple Buildings
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,356
Amenities
3
Full
6
Tenants and business belongings
1.0
No
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Central
(732) 972-1000
Listed By:
George Pavlushkin · License #1324942
(732) 972-1000
Source:
Compass
Added: Jun 2
Changed: Aug 8
Last Checked: Jun 6 at 3:42AM
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 RE/MAX Central
Investment Insights
Based on property information with market context.
This fully occupied mixed-use property includes one ground-floor retail space operating as a pizzeria and two residential apartments. The building is described as well maintained, with the retail unit currently occupied and contributing meaningful building operating expense allocation. The pizzeria is in place at $3,600 per month, with 3% annual rent increases noted in the offering materials. The retail tenant is also stated to contribute 70% of the building’s water expense.
Located at 722 West Side Avenue in Jersey City, NJ 07304, the property’s configuration combines street-level commercial space with two large apartment units above. This layout allows an owner to hold both retail and residential income streams within a single asset.
For buyers seeking a turn-key mixed-use hold, the current occupancy provides immediate rental revenue across the retail and residential components, along with contracted annual rent growth on the pizzeria lease as stated. The residential units round out the income profile, supporting a straightforward operating model for an investor or owner-operator that wants commercial and residential tenants in one building.
Located at 722 West Side Avenue in Jersey City, NJ 07304, the property’s configuration combines street-level commercial space with two large apartment units above. This layout allows an owner to hold both retail and residential income streams within a single asset.
For buyers seeking a turn-key mixed-use hold, the current occupancy provides immediate rental revenue across the retail and residential components, along with contracted annual rent growth on the pizzeria lease as stated. The residential units round out the income profile, supporting a straightforward operating model for an investor or owner-operator that wants commercial and residential tenants in one building.
Key Highlights
- 3‑level mixed‑use building with a full basement, 6 bedrooms, and 1 full bath
- Ground‑floor retail unit is leased to a pizzeria generating $3,600/month
- Pizzeria rent includes 3% annual rent increases
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
$73,412
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
8.16%
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%
$1,468,240
$1.5M
Cap Rate 7%
$1,048,743
$1.0M
Cap Rate 9%
$815,689
$815.7K
Market Conditions
NOI Build-Up for 4,400 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
$129.4K $29.40/SF
− Vacancy
−$11.9K −$2.70/SF
EGI
$117.5K $26.70/SF
− OpEx
−$44.0K −$10.01/SF
NOI
$73.4K $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 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%
$1,468,240
Cap Rate 7%
$1,048,743
Cap Rate 9%
$815,689
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.66M
NOI $99,859 @ 7.0% cap · market cap 11.10%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,573 @ 7.0% cap · market cap 9.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,797
Businesses Nearby
Explore this area
Business Placement
Demographics for 07304, NJ
48,681
Population
21,211
Households
2.3
Avg Household Size
35
Median Age
40%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
23,181
Density / Sq Mi
$68,432
Median Household Income
$47,673
Median Earnings
$1,572
Median Rent
$489,400
Median Home Value
Market
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 - Mixed-use building with a leased ground-floor pizzeria and two residential apartments with annual rent increases.
Where is this mixed-use property located?
The property is located at 722 West Side Avenue Jersey City, NJ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3‑level mixed‑use building with a full basement, 6 bedrooms, and 1 full bath; Ground‑floor retail unit is leased to a pizzeria generating $3,600/month; Pizzeria rent includes 3% annual rent increases
