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Property profile

413 Summit Ave Jersey City, NJ 07306

OFF-MARKET
Specialty properties
Built 2023
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Property summary

AI-generated overview

This exceptional 4,865-square-foot retail space is located at 413 Summit Avenue in Jersey City, NJ, 07306. Situated in the vibrant Journal Square neighborhood, this Class A, single-tenant property boasts a prominent 40-foot frontage and benefits from a high daily traffic count of 17,020 vehicles. The space is delivered as a vanilla box, offering a blank canvas for customization, and features a generous 22-foot ceiling height. The property is part of a state-of-the-art, 19-story building completed in 2023, including 148 residential units. Its strategic location within the Central Business District, a densely populated area with a median age of 34 and 21,681 residents, ensures high visibility and foot traffic. The property enjoys proximity to key amenities and transportation hubs, including the JSQ PATH station (less than a 5-minute walk), the new Pompidou Museum (under 100 feet), Starbucks, CityMD, FlipSigi, and Hudson Community College. The area also benefits from a significant residential development pipeline of approximately 15,000 rental units, promising continued growth and increased consumer traffic. The lease type is NNN. One parking space is available. The building features an elevator. The cross street is Sip Avenue.

Property profile

Verified
Property type Specialty properties
Year built 2023

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Apartment Building

Location

413 Summit Ave Jersey City, NJ 07306
Jersey City metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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