1017 West Side Avenue is a fully leased mixed-use investment property located in the Marion section of Journal Square, Jersey City, NJ. The first floor features a commercial space currently occupied by the Jersey City Public Library, a long-standing tenant with a lease in place through May 2028 that includes a 4% annual rent increase. The tenant is responsible for maintenance costs. The second floor consists of a residential unit with two bedrooms, one bathroom, and a large private deck, leased on a yearly basis. Residential tenants pay all utilities except water.
The commercial space encompasses approximately 952 square feet and includes a large private garden of about 780 square feet. The residential apartment offers a total of 1,385 square feet, including a finished basement, along with an outdoor deck of approximately 430 square feet. Recent capital improvements include a new multi-zone split HVAC system for the commercial space installed in 2019, a new main copper water line with a street shutoff valve added in 2021, a new silicone roof completed in 2022, and a lead-safe certification passed in 2024.