333 Newark Ave Jersey City, NJ 07302-2209

Property Details for 333 Newark Ave

Construction

BRICK

Lot size

0.07 lot acres

Zone code

R-2

Property type

Commercial real estate

APN

06 11001-0000-00004

APU

611001000000004

Description

This exceptional Class A mixed-use property, located at 333 Newark Avenue in Jersey City, NJ, presents a compelling investment opportunity. Completed in 2022, the building boasts 15,291 square feet across five stories, encompassing 18 studio apartments (approximately 6,720 net rentable square feet), 1,180 square feet of retail space, and 1,700 square feet of office space. The property sits on a 3,028 square foot lot and benefits from a 100% occupancy rate achieved in September 2022, generating a strong net operating income (NOI) of $450,000 and a 5.20% capitalization rate. The asking price is $8,650,000, translating to $565.69 per square foot. High-end finishes throughout, including Blomberg/Bosch appliances and Porcelanosa tile, attract desirable tenants. Amenities include a furnished rooftop deck with Manhattan views, a shared residential lounge, and bike storage. The property's prime location in the rapidly developing Village section of Downtown Jersey City, within walking distance of the Grove Street PATH station and adjacent to White Eagle Hall, ensures strong rental demand and future appreciation potential. The property is zoned NC and is suitable for a 1031 exchange. This is a rare opportunity to acquire a fully stabilized, high-quality asset in a thriving urban market.