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Property profile & analytics
OFF-MARKET Estimated value $645,000
Office Spaces

388 Communipaw Ave 8001 Jersey City, NJ 07304-3646

1,210 SF 0.06 ac lot Built 2000
Entity Owned 3-yr Hold Free & Clear
Property ID
US59-2711822
Property summary
AI-generated overview

This exceptional Jersey City property offers a unique opportunity for a restaurant, café, or other hospitality business. Located at 388 Communipaw Avenue, this single-tenant space boasts 1,200 square feet on the main level, complemented by a spacious 2,000-square-foot basement and a private 150-square-foot courtyard. The flexible layout allows for customization to suit various concepts. Situated between Downtown Jersey City and the Canal Crossing Redevelopment Plan, this corner unit benefits from high visibility and significant foot traffic. The Canal Crossing project, slated for completion by 2030, will add over 8,000 residential units and substantial commercial space, dramatically increasing the area's population and consumer base. This surge in residential development, including numerous luxury projects, creates a strong demand for new dining and social experiences. The property's strategic location at the nexus of two major growth zones ensures strong potential for future appreciation and a thriving business environment. The 07304 zip code offers easy access to various transportation options and amenities. This is an unparalleled chance to establish a presence in a rapidly evolving and highly desirable area of Jersey City. The property is ideal for entrepreneurs seeking to capitalize on the significant growth and development within the community.

Property profile
Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 2000
Total area 1,210 SF
Lot 0.06 ac (2,782 SF)
APN 06 20002-0000-00012-0000-C8001
UPID US59-2711822
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • 388 Communipaw Avenue Vacation Rental
  • Simple mobile Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$785k
CAP Approach CAP
by Request
Comparable Approach Comparable
$428k
Blend (final) Blend
$645k
Owner & transaction history
388 Communipaw Nj LLC · 3 yrs held
388 Communipaw Nj LLC
since 2022
Last sale
$637,142
7 recorded transactions
2022
$637,142
2014
$955,000
2008
$475,000
2008
$300,000
2008
Price N/A
2007
$450,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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