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    593 Ocean Ave Jersey City, NJ 07305

    For Sale
    $899,000

    Prime Jersey City location, high occupancy.

    Property size:
    2,973 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional mixed-use property at 593 Ocean Avenue in Jersey City, New Jersey, presents a compelling investment opportunity. The 2-story brick building, constructed in 1920, boasts a total of 2,973 square feet and is currently 100% occupied, generating a strong net operating income (NOI) of $61,799, representing a 6.87% capitalization rate. The asking price is $899,000, translating to $302.39 per square foot. The building comprises four units: two commercial spaces on the ground floor and two residential units on the second floor. A separate structure on the property includes four garages and a storage unit, adding significant value and potential rental income. All units have separate utilities, simplifying management and maximizing efficiency. Located in the desirable 07305 zip code of Hudson County, this property benefits from a prime Jersey City location with excellent access to transportation and amenities. The well-maintained condition and high occupancy rate make this a low-risk, high-reward investment with significant upside potential. This is a rare opportunity to acquire a fully leased, mixed-use property in a thriving urban market.

    Property Features for 593 Ocean Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,973 SF

    Building Details

    Year Built
    1920
    Stories
    2
    Units
    4

    HighLights

    • Exceptional mixed‑use investment opportunity in Jersey City, NJ.
    • 2,973 SF, 2‑story brick building, 1920 construction.
    • 100% occupied, generating $61,799 NOI, 6.87% cap rate, $899,000 asking price ($302.39/SF).
    • Four units: two ground‑floor commercial, two second‑floor residential.
    • Includes four‑garage separate structure with storage unit. All units have separate utilities.
    • Prime Jersey City location (07305 zip code), excellent access to transportation and amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apb Clothing Clothing Store

    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
    -74.078118997578
    Latitude
    40.70662354512

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Jersey City location, high occupancy.
    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: Exceptional mixed-use investment opportunity in Jersey City, NJ.; 2,973 SF, 2-story brick building, 1920 construction.; 100% occupied, generating $61,799 NOI, 6.87% cap rate, $899,000 asking price ($302.39/SF).
    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
    593 Ocean Ave Jersey City, NJ 07305
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