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    425 Summit Ave Jersey City, NJ 07306

    Sponsored
    For Lease
    $60 SF/Yr ($18,150 /Mo)

    Class A Office Suites, Journal Square

    Lot size:
    3,630 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A commercial property at 425 Summit Avenue, Jersey City, NJ 07306, offers 3,630 square feet of versatile space in a single, newly constructed (2024) building. The property is ideally suited for a variety of uses, including medical, traditional, or executive office spaces, and is currently configured for multiple tenants. Two retail spaces are available, ranging from 784 to 2,846 square feet, boasting excellent visibility on Sip Avenue and Summit Avenue. Located in the vibrant Journal Square neighborhood, this property benefits from its proximity to the PATH station, providing easy access to Manhattan. The surrounding area is experiencing significant residential growth, with 4,000 new residential units already completed and another 2,000 in development. This influx of residents creates a high-demand market for retail and office services, making this an exceptional opportunity for businesses seeking a prime location in a rapidly developing area. The property's modern design and convenient location make it an attractive option for businesses seeking a thriving and accessible environment. Ideal for cafes, medical practices, or daycare centers.

    Property Features for 425 Summit Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,630 SF
    Class
    A
    Total Rate
    18150

    Building Details

    Year Built
    2024
    Buildings
    1

    Unit(s) available at that property

    Space
    Space 2: SUMMIT AVENUE
    Size
    784 SF
    Rate per SF
    $60
    Space
    Space 1: SIP AVENUE
    Size
    2,846 SF
    Rate per SF
    $60

    HighLights

    • Journal Square CBD location.
    • Situated between Sip Avenue and Newkirk Street.
    • One block from the Journal Square PATH station.
    • One block from the Pompidou Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nova Parking Parking Lot

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.061778
    Latitude
    40.730003

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    FAQs

    What type of property is this?
    Medical office - Class A Office Suites, Journal Square
    Where is this medical office located?
    The property is located at 425 Summit Ave Jersey City, NJ.
    What is the lease rate?
    The lease rate is $60 SF/Yr.
    What are key features of this property?
    This property features: Journal Square CBD location.; Situated between Sip Avenue and Newkirk Street.; One block from the Journal Square PATH station.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    425 Summit Ave Jersey City, NJ 07306
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