1017 Westside Ave - Specialty FOR SALE


Jersey City, NJ 07306- Journal Square
$895,000 USD
917-355-1556
1017 Westside Ave, Jersey City, NJ for Sale
$895,000 USD
Specialty - FOR SALE
1/21
null | 6.78% Cap Rate

1017 Westside Ave
Jersey City, NJ 07306
Journal Square


HIGHLIGHTS

  • Fully occupied mixed-use property with one commercial and one residential unit.
  • Prime location in Jersey City’s Marion neighborhood near Journal Square.
  • Excellent transit access with PATH service to Manhattan in under 20 minutes.
  • Strong income performance with a 6.78% cap rate and NOI of $60,689.
  • Surrounded by cultural attractions, retail, and ongoing development projects.
  • Located in a high-demand, appreciating market with limited supply.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$393 USD /SF

CAP RATE

6.78%

% LEASED

100%

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

R-1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Frederic GabrielThe Virtual Realty GroupMore Info
917-355-1556

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Frederic GabrielThe Virtual Realty GroupMore Info
917-355-1556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.