358 Grv St Jersey City, NJ 07302-2964
- Commercial real estate
- 0.13 lot acres
Current Use by Public Records
- Western Union / Money Transfer Service
- Delivery-xpress.com Service Logistic Learning Solutions / E-Commerce Service / Business Management Consultant
Property Details for 358 Grv St
- Construction
- BRICK
- Lot size
- 0.13 lot acres
- Property type
- Commercial real estate
- APN
- 06 11508-0000-00018
- APU
- 611508000000018
Description
This exceptional four-story brick building, located at 358-362 Grove Street in Jersey City, NJ (APN 11508, zip code 07302), presents a rare investment opportunity. The property boasts a total of 44 units, comprising 19 residential units (16 one-bedroom and 3 studios) and 3 commercial units, all currently 100% occupied, generating substantial income. Each residential unit features separate heat and hot water. The building's prime location in Historic Downtown Jersey City offers unparalleled convenience, situated just a block and a half from the Grove Street PATH train station, providing easy access to public transportation. Nearby amenities include shopping, schools, and restaurants. The property's strong financial performance is reflected in its 5.5% capitalization rate and low operating expenses. This is a turnkey investment with significant upside potential. The asking price is $7,500,000, representing a price per square foot of $7,500,000 (note: total square footage is not specified in the provided data). This is a truly exceptional opportunity for discerning investors seeking a high-yield, multi-unit retail property in a thriving urban location. The property is offered as a modified lease.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0424
- Latitude
- 40.7213
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
