451 Communipaw Ave Jersey City, NJ 07304-3601
Property profile & analytics
451 Communipaw Ave Jersey City, NJ 07304-3601
- Industrial properties
- 0.29 lot acres
Property ID
US59-1604693
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- The Factory / Restaurant
- A & R Sewing Company / Factory / Production Facility
- Antony Todd's Storage / Storage Facility
- My Pro Listing / Consultant
- Smoke-Stock & Chimney Cleaning Service RFB / Hardware & Home Improvement
Property Details for 451 Communipaw Ave
- Year built
- 1920
- Construction
- BRICK
- Lot size
- 0.29 lot acres
- Property type
- Industrial properties
- APN
- 06 18901-0000-00021
- APU
- 618901000000021
Description
This exceptional value-add investment opportunity presents two three-story industrial buildings totaling 29,951 square feet situated on a 12,715 square foot lot in Jersey City, NJ. The property, located at 451 Communipaw Avenue, boasts a prime location on a major east-west corridor within a rapidly growing neighborhood. Currently featuring a mix of commercial spaces, including the established Factory Restaurant and Lounge occupying the entire first floor of the main building, and an outdoor cafe in a secondary building, this property offers significant upside potential. The main building comprises approximately 29,151 square feet, with roughly 7,720 square feet per floor. Building amenities include one loading dock and one freight elevator. The property is zoned under the Morris Canal Redevelopment Plan and presents a compelling opportunity for an owner-user or investor seeking to capitalize on the high demand and limited supply of similar properties in Jersey City. The current occupancy is 28%, with a current NOI of $164,000 and a pro-forma NOI of $339,160, resulting in a pro-forma cap rate of 7.89%. The asking price is $4,300,000, translating to a price per square foot of $143.57. Built in 1929, this property includes the iconic "Lafayette smoke stack" on the premises. This is a multi-tenant property with a triple net (NNN) lease type.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,860,000
- ML approach
- $3,925,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0664
- Latitude
- 40.714
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$79,643
$604,500
$3,155,800
$3,760,300
-
$604,500
$3,155,800
$3,760,300
