404 Tonnele Ave Jersey City, NJ 07306
- Commercial real estate
- 1.53 lot acres
Current Use by Public Records
- Academy House Child Development Center / Day Care Center / Preschool
Property Details for 404 Tonnele Ave
- Construction
- BRICK
- Lot size
- 1.53 lot acres
- Zone code
- R-1
- Property type
- Commercial real estate
- APN
- 06 04601-0000-00044
- APU
- 604601000000044
Description
This exceptional investment opportunity presents a two-story, 28,000 square foot multi-tenant storefront located at 404 Tonnelle Avenue in Jersey City, New Jersey. Currently 66% occupied, this property offers significant upside potential with approximately 10,000 square feet of new retail space available. The asking price is $10,000,000. The property boasts a highly desirable location within the bustling Routes 1 & 9 business district, situated at a busy four-way traffic light intersection experiencing high daily traffic counts of 70,581 vehicles. This prime location benefits from a dense population base. The property sits on a 1.38-acre lot and includes ample parking with approximately 50 spaces. The building features two stories and is zoned HC (Highway Commercial). The current lease type is NNN with a multi-tenant occupancy and 11 years remaining on the lease. This is a rare opportunity to acquire a substantial retail property in a high-demand area with excellent growth prospects. Don't miss this chance to capitalize on a strong investment in a thriving commercial corridor.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,525,000
- 6.5%
- $1,460,000
- 7%
- $1,450,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,570,000
- Geo Method
- $1,705,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,700,000
- Retail
- $1,675,000
- Mixed-Use
- $1,605,000
- Hospitality
- $1,630,000
- Educational
- $1,475,000
- Residential Income
- $1,570,000
- Energy
- $1,685,000
- Income-Based Land
- $1,510,000
- Food Service
- $1,550,000
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0619
- Latitude
- 40.7448
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
