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420 Central Avenue , Jersey City, NJ 07307

$1,699,999

Detail

  • Property ID: 24023741
  • Price: $1,699,999
  • Year Built: 1900-1939
  • Property Type: 5+ Family/Mixed Use
  • Property Status: Mixed Use

Description

CALLING ALL INVESTORS: Rare opportunity to acquire a unique mixed-use development site in one of Jersey City’s prime retail and residential areas. This 25 x 127-foot lot, currently housing a convenience store with an apartment above, can be developed as of right into a 5-story project totaling 12,500 gross buildable square feet. There is existing income from these tenants to cover holding costs during planning, making this property ideal for investment. Comparable condo projects in the area command prices of approximately $600 per square foot, suggesting a potential sellout value of around $5.6 million. Moreover, the lot size exceeds the typical 25×100 dimensions found in Jersey City, offering a standout opportunity for retail or residential development. Please note seller’s agent is related to seller.

  • Address: 420 Central Avenue
  • City: Jersey City
  • State/county: HUDSON / NJ
  • Zip/Postal Code: 07307
  • Country: United States

Listing provided by Weichert Realtors, Fort Lee

The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Prominent Properties Sotheby's International Realty are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Last date updated: 2024-09-07 9:00 PM. Source: New Jersey Multiple Listing Service, Inc.

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