324 3rd St Jersey City, NJ 07302-2616
- Commercial real estate
- 0.05 lot acres
Current Use by Public Records
- Barge Inn / Bar / Bar & Grill
Property Details for 324 3rd St
- Year built
- 1870
- Construction
- FRAME
- Lot size
- 0.05 lot acres
- Zone code
- R-2
- Property type
- Commercial real estate
- APN
- 06 11102-0000-00001
- APU
- 611102000000001
Description
This exceptional Jersey City investment opportunity presents a 4,500 square foot mixed-use property at 324 3rd St, 07302. The property features The Barge Inn, a well-established bar and restaurant, along with six income-producing apartment units. Built in 1870 and renovated in 2010, this three-story building sits on a 2,091 square foot lot and boasts a 100% occupancy rate as of February 1st, 2024. The property's Net Operating Income (NOI) is $147,209, yielding a 4.91% cap rate. The asking price is $2,999,999, translating to $666.67 per square foot and $1,435 per square foot for the land. The building is zoned R-3 and offers a significant value-add opportunity. The six units include the commercial space occupied by The Barge Inn and four residential apartments; one one-bedroom with a bonus room and bath, two two-bedroom, one-bath units, and one additional one-bedroom, one-bath unit. This fee-simple ownership presents a unique chance to acquire a thriving business and rental income stream in a prime downtown Jersey City location. The property is situated in Hudson County, New Jersey, offering easy access to major New Jersey highways and proximity to New York City. This is a rare opportunity to own a piece of Jersey City's vibrant history and future.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $440,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0489
- Latitude
- 40.7239
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
