701 Grand St -mixed-use development site FOR SALE


Jersey City, NJ - McGinley Square
$4,850,000 USD
551-556-3738
, Jersey City, NJ for Sale
$4,850,000 USD
FOR SALE
1/10
null | 4.47% Cap Rate

701 Grand St -mixed-use development site
Jersey City, NJ
McGinley Square


HIGHLIGHTS

  • Seven lots including Car Dealership and Auto Repair Shop
  • Redevelopment Plan Area
  • Existing Mixed-Use structures
  • Prime development site to build 100+ units
  • Approx 20,000 sf
  • Build up to 7 stories

OVERVIEW

Currently owner-occupied, this approximately 20,000 SF portfolio consists of seven lots located in the Bergen-Lafayette section of Jersey City within the Morris Canal Redevelopment Plan. Prime development site allows for development of up to seven stories, 100+ units. This offering presents a compelling development opportunity, enabling an investor to generate near-term income while positioning the property for future redevelopment. Seller financing is available. - Car Dealership (709-711 Grand St) - Mixed-use building (701-703 Grand St): 3-bed, 2-bath apartment Fusion Cafe w/kitchen Locksmith shop - Parking Lot (701 Grand St) - Auto Repair Shop (1097 Garfield Ave) w/paint booth. Previously an auto body shop. Auto Body license can be obtained. - Car lot (14-6 Summit Ave) Collective Square Footage 19,850 sf - IRR Permitted Principal Uses: 1. Residential above the ground floor 2. Medical offices 3. Child Day Care Centers and Adult Day Cares 4. Community facilities 5. Parks 6. Public utilities, except that natural gas transmission lines shall be prohibited 7. Offices 8. Health care facilities, except for health care facilities that provide any type of residential accommodation. 9. Veterinary services and animal grooming facilities 10. Incubator spaces 11. Retail sales of goods and services, except for drive-through pick-up 12. Restaurants, cafes, banquet and catering facilities 13. Bars 14. Distilleries and microbreweries 15. Financial Institutions 16. Houses of worship 17. Galleries and theaters 18. Health clubs

ASK ABOUT THIS PROPERTY

Kelly BastidasTerrane Realty AdvisorsMore Info
551-556-3738

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Kelly BastidasTerrane Realty AdvisorsMore Info
551-556-3738

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