Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    241 M.l.k. Dr Jersey City, NJ 07305

    • Land
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 241 M.l.k. Dr

    Property type
    Land

    Description

    This exceptional 4,119 square foot commercial land parcel in Jersey City, New Jersey, presents a unique investment opportunity. Located at 241 M.L.K. Drive, in the 07305 zip code within Hudson County, this property boasts fully approved plans for an 18-unit development. The site's strategic location offers convenient access to various amenities and transportation options, making it an attractive proposition for developers seeking to capitalize on the thriving Jersey City real estate market. The asking price for this ready-to-build site is $949,000. All necessary approvals are in place, eliminating significant pre-construction hurdles and streamlining the development process. This significantly reduces risk and accelerates the timeline to project completion and revenue generation. The substantial lot size provides ample space for the planned 18 units, allowing for potentially diverse unit configurations and maximizing potential rental income. This turnkey project is ideal for experienced developers seeking a swift and profitable venture in a high-demand location. Detailed plans are available upon request. Don't miss this chance to acquire a fully approved multi-family development project in a prime Jersey City location.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0829
    Latitude
    40.7076

    Comparable in this City

    • Value Estimation by Request

      24 Martin Luther King Dr

      Land
      24 Martin Luther King Dr, Jersey City, NJ 07305
      View Details
    • Value Estimation by Request

      185 Martin Luther King

      Land
      185 Martin Luther King, Jersey City, NJ 07305
      View Details
    • Value Estimation by Request
      0.06 Acres

      Martin Luther King Dr

      COMMERCIAL (GENERAL) • 0.06 Acres
      Martin Luther King Dr, Jersey City, NJ 07305
      View Details
    • Value Estimation by Request
      13.42 Acres

      2 Colony Rd

      COMMERCIAL (GENERAL) • 13.42 Acres
      2 Colony Rd, Jersey City, NJ 07305-4502
      View Details
    • Value Estimation by Request
      0.09 Acres

      106 Ege Ave

      COMMERCIAL (GENERAL) • 0.09 Acres
      106 Ege Ave, Jersey City, NJ 07305
      View Details
    • Value Estimation by Request
      0.36 Acres

      27 Fisk St

      COMMERCIAL (GENERAL) • 0.36 Acres
      27 Fisk St, Jersey City, NJ 07305-1101
      View Details

    Similar Nearby for Sale

    • $235,000

      Prime Jersey City Commercial Land

      Profitable Land, High Traffic Area
      185 Martin Luther King, Jersey City, NJ 07305
      View Details
    • $700,000

      Land for Sale

      Commercial land available for sale.
      286 Martin Luther King Jr Dr, Jersey City, NJ 07305
      View Details
    • $1,170,000

      Approved Development Opportunity in Greenville

      Shovel-ready, approved 5-story project in Jersey City's Jackson Hill.
      241 Martin Luther King Jr Dr, Jersey City, NJ 07305
      View Details
    • $1,100,000

      Buildable Lot in Opportunity Zone

      6,771 sq ft lot zoned for mid-rise residential development.
      171 Bergen Ave, Jersey City, NJ 07305
      View Details
    • $369,000

      Jersey City Development Opportunity

      Land for condominium development near West Side Avenue Light Rail.
      297 Claremont Ave, Jersey City, NJ 07305
      View Details
    • New
      $1,200,000

      Residential Land Ready For Development

      Approved land for 12 residential units in Jersey City.
      1768 John F Kennedy Blvd, Jersey City, NJ 07305
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      3.7 Acres for Parking/Storage

      3.7 acres for parking and outside storage near I-78.
      34 Caven Point Ave, Jersey City, NJ 07305
      View Details
    • $2,100 /Mo

      Well-Maintained Two-Bedroom Unit For Rent

      First-floor unit with living and dining rooms, convenient location.
      212 Wilkinson Ave, Jersey City, NJ 07305
      View Details
    • $2,200 /Mo

      Three Bedroom Apartment For Rent

      Three bedroom apartment with updated kitchen and bonus office space.
      193 Armstrong Ave, Jersey City, NJ 07305
      View Details
    • $3,200 /Mo

      New 3-Bed Apartment for Rent

      Newly constructed 3-bed, 2-bath apartment near light rail.
      190 Arlington Ave, Jersey City, NJ 07305
      View Details
    • $2,200 /Mo
      835 SF

      Prime Jersey City Commercial Space

      835 sq ft commercial space ideal for retail or office.
      498 Ocean Ave, Jersey City, NJ 07305
      View Details
    • Contact for pricing

      Accessible Industrial Location

      Convenient access to major transportation routes and facilities.
      145 Industrial Dr, Jersey City, NJ 07305
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    241 M.l.k. Dr
    Jersey City, NJ 07305
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.