1664 John F. Kennedy Blvd Union City, NJ 07087
- Retail properties
- 6,500 SF
Current Use by Public Records
- Retail properties
Property Details for 1664 John F. Kennedy Blvd
- Property size
- 6,500 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional investment opportunity presents a fully occupied, three-building assemblage totaling 6,500-7,000 square feet on a 6,200 square foot lot in Jersey City, NJ. Located at 1664, 1668, and 1670 John F. Kennedy Boulevard, this stabilized mixed-use property boasts a strong tenant roster including a premier ABA therapy provider, a state-licensed funeral home, and residential units. The property features a 7.74% cap rate with a pro-forma cap rate of 8.18%, generating a current NOI of $251,608 and a pro-forma NOI of $265,867. Renovated in 2021, the property comprises three buildings, two stories high, with a total of six tenants and four parking spaces. The RC-2 zoning allows for diverse uses. This turnkey investment offers significant upside potential through future rent increases in the residential units, while benefiting from long-term leases with high-quality commercial tenants. The property's prime location on Kennedy Boulevard between Lembeck and Pearsall Avenues provides excellent visibility and accessibility. The asking price is $3,250,000. This is a rare opportunity to acquire a high-yielding, fully occupied, mixed-use assemblage in a thriving Jersey City location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Union City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0966
- Latitude
- 40.6979
