For Sale
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Property summary
This exceptional 6,640 square foot vacant land parcel at 216 Palisade Avenue in Jersey City, New Jersey, presents a unique opportunity for immediate development. Located within the city's designated Medical District, this fully approved project encompasses a 10-story building featuring a total of 51 residential units. The thoughtfully designed layout includes a mix of unit sizes to cater to a diverse range of residents: six studios, forty-three one-bedroom units, and two three-bedroom units. Residents will enjoy convenient access to a state-of-the-art resident gym and a relaxing rooftop deck, offering stunning views. The development also includes an 11-space parking garage, addressing the parking needs of residents. The property's prime location along Palisade Avenue provides easy access to a wealth of local amenities, enhancing its appeal and potential for strong rental income. With all necessary approvals in place, this site is ready for immediate construction, making it an exceptional investment opportunity in a thriving Jersey City neighborhood. The asking price for this remarkable development site is $4,500,000. The property is zoned for residential use within the Medical District of Hudson County, zip code 07306.
Property profile
VerifiedCap rate & NOI
Current use
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Physician
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Physician
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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