388 Communipaw Ave, Unit 8001 Jersey City, NJ 07304-3646
- Office Properties & Spaces
- 1,210 SF
- 0.06 lot acres
Current Use by Public Records
- 388 Communipaw Avenue / Furnished Apartment Building / Apartment Building
- Simple mobile / Cell Phone Store
Property Details for 388 Communipaw Ave
- Year built
- 2000
- Lot size
- 0.06 lot acres
- Property size
- 1,210 SF
- Property type
- Office Properties & Spaces
- APN
- 06 20002-0000-00012-0000-C8001
- APU
- 06200020000000120000C8001
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $730,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $635,000
- 6.5%
- $565,000
- 7%
- $595,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $520,000
- Geo Method
- $540,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $705,000
- Retail
- $630,000
- Mixed-Use
- $635,000
- Hospitality
- $575,000
- Educational
- $685,000
- Residential Income
- $700,000
- Energy
- $540,000
- Income-Based Land
- $740,000
- Food Service
- $695,000
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0638
- Latitude
- 40.7128
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
