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Off Market
1/9

63-65 Irving St
Jersey City, NJ 07307


HIGHLIGHTS

  • Multi-purpose development
  • Multifamily conversion/expansion
  • The property has a pro forma effective gross income of $182,250 representing an 8.60% cap rate at asking price
  • 15 minutes to NYC and minutes from Historic Downtown Jersey City
  • 2 miles from the Journal Square Transportation Center
  • Can be delivered vacant

OVERVIEW

Marcus & Millichap has been selected to exclusively market for sale the 63-65 Irving St, a three-story, brick, mixed-use building in Jersey City, New Jersey. The building property can be delivered vacant and could potentially be converted or expanded for an owner-user or multifamily development. The property is located approximately 2 miles from the Journal Square Transportation Center which offers a 15-minute ride to the World Trade Center and a 22-minute ride to Midtown Manhattan via Path. 63-65 Irving Street is also located 5 blocks from the 9th Street Light Rail Station which offers a 27-minute commute into Midtown Manhattan. The Journal Square Transportation Center also includes a bus terminal with a 28-minute ride into the Manhattan. Jersey City has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The successful public transportation system has sparked new development opportunities in the city as several nearby apartment complexes have been completed and are under construction. The new supply speaks to the value of the location and should continue to drive the local economy which will ultimately push rents.

FOR SALE DETAILS

PRICE

-

CAP RATE

-

% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

13750

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC AC

LAND SF

5,001 SF

ZONING

-

APN/PARCEL ID

06-00805-0000-00004