Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    581 Palisade Ave Jersey City, NJ 07307

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    581 Palisade Ave Jersey City, NJ 07307

    View on Map
    • Commercial real estate
    Off-Market
    Property ID
    US59-1468978
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 581 Palisade Ave

    Property type
    Commercial real estate

    Description

    This exceptional redevelopment opportunity presents a 12-unit apartment building situated on a 5,000 sq ft lot in Jersey City, NJ. Located at 581-583 Palisade Ave, this property boasts a prime location just one block from the Congress St Elevator to Hoboken. Currently zoned R3, the two three-story buildings offer significant potential for a visionary developer. The asking price is $2,200,000, representing a price per unit of $183,333.33 and a 3.86% cap rate. The current Net Operating Income (NOI) is $85,000. The property's current annual income is approximately $140,532, with total annual expenses of approximately $54,788. This includes taxes, utilities (PSEG and JC Water), insurance, cleaning, repairs and maintenance, and pet control. The property's potential for increased rental income is significant, given the current market in Jersey City. Further, data suggests a strong return on investment for renovations, with estimates of $1.35-$1.55 in increased monthly rent per $100 spent, depending on the renovation budget. This presents a compelling opportunity for investors seeking a high-return multifamily project in a thriving urban location. The property is ready for a developer to reimagine its potential, creating a blend of urban convenience and modern living.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0417325
    Latitude
    40.7483698

    Comparable in this City

    • $1,299,000

      Turn-Key Investment Property

      Legal 5-family property with strong income potential in JC Heights.
      180 Thorne St, Jersey City, NJ 07307
      View Details
    • Contact for pricing

      Jersey City Multifamily Investment Opportunity

      Rare 7-unit multifamily property in Jersey City Heights.
      135-137 Griffith St, Jersey City, NJ 07307
      View Details
    • Contact for pricing

      Jersey City Heights Mixed-Use Building

      Fully occupied mixed-use building in prime Jersey City Heights location.
      212 Palisade Ave, Jersey City, NJ 07307
      View Details
    • Contact for pricing

      Mixed-Use Investment in Jersey City Heights

      Commercial mixed-use property with substantial upgrades and upside potential.
      1074-1080 Summit Ave, Jersey City, NJ 07307
      View Details
    • $1,250,000

      Six-Unit Multifamily Property For Sale

      Well-maintained six-unit multifamily property with modern renovations in prime location.
      18 Graham St, Jersey City, NJ 07307
      View Details
    • $1,299,000

      Turn-Key Investment Property

      Legal 5-family property with income potential in JC, Heights.
      180 Thorne St, Jersey City, NJ 07307
      View Details

    Similar Nearby for Sale

    • $1,299,000

      Turn-Key Investment Property

      Legal 5-family property with income potential in JC, Heights.
      180 Thorne St, Jersey City, NJ 07307
      View Details
    • $1,299,000

      Turn-Key Investment Property

      Legal 5-family property with strong income potential in JC Heights.
      180 Thorne St, Jersey City, NJ 07307
      View Details
    • Contact for pricing

      Jersey City Multifamily Investment Opportunity

      Rare 7-unit multifamily property in Jersey City Heights.
      135-137 Griffith St, Jersey City, NJ 07307
      View Details
    • Contact for pricing

      Jersey City Mixed-Use Investment Opportunity

      Mixed-use property with eight units, five recently renovated.
      1076 Summit Ave, Jersey City, NJ 07307
      View Details
    • $1,425,000

      Jersey City Multifamily Investment Property

      Six-unit multifamily property in Jersey City Heights with income potential.
      202 Hutton St, Jersey City, NJ 07307
      View Details
    • $1,800,000

      Jersey City Heights Multifamily Investment

      Eight-unit multifamily property in Jersey City Heights with upside potential.
      69 Hague St, Jersey City, NJ 07307
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo

      Central Avenue Commercial Space Available

      Prime 750 sq ft commercial space in Jersey City Heights.
      483 Central Ave, Jersey City, NJ 07307
      View Details
    • $6,000 /Mo
      3,000 SF

      Jersey City Retail/Office Space

      3,000 sqft retail or office space in Jersey City.
      298 Central Ave, Jersey City, NJ 07307
      View Details
    • Contact for pricing
      775,000 SF

      775,000 SF Build-To-Suit Industrial

      Located in the heart of the Meadowlands, New Jersey industrial market.
      100 Paterson Plank Rd, Secaucus, NJ 07307
      View Details
    • $1,850 /Mo

      Retail Space for Rent

      Retail space available, potential to continue existing business.
      3563 John F Kennedy Blvd, Jersey City, NJ 07307
      View Details
    • $7,600 /Mo

      Central Avenue Retail Space Available

      3,500 sq ft retail space in thriving commercial corridor.
      324 Central Ave, Jersey City, NJ 07307
      View Details
    • $3,000 /Mo

      Central Avenue Retail Space Available

      Prime retail space with finished basement in high-traffic area.
      335 Central Ave, Jersey City, NJ 07307
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    581 Palisade Ave
    Jersey City, NJ 07307
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    581 Palisade Ave, Jersey City, NJ, 07307

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!