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24337045
24337046

1074-1080 Summit Ave, Jersey City, NJ 07307 For Sale

JH
NJ NJ 0231736
Compass
Listed by Compass
$2,250,000
386 days on market
Updated 8 days ago

1074-1080 Summit Ave

Details
Property Type Mixed Use, Retail
Sub Type Storefront
Square Footage 3,200
Units 6
Cap Rate 6.72%
NOI $151,260
Occupancy 100%
Brand/Tenant DHL
Pro-Forma Cap Rate 10.29%
Pro-Forma NOI $231,600
Broker Co-Op Yes
Year Renovated 2021-2025
Stories 3
Lot Size (SqFt) 3,200
Parking Spaces 8 spaces
Parking per 1,000 SqFt 2.50

Mixed Use | 6.72% CAP | 3,200 SqFt

Marketing description

Welcome to 1076 Summit Avenue, a unique mixed-use investment property in the heart of Jersey City Heights. Situated on a 3,200 SF lot, this eightunit building with ground-floor retail seamlessly blends historic charm with extensive modern upgrades, offering a turnkey opportunity for savvy investors. The property stands out with a restored exterior that highlights its original architectural character, featuring new siding, a rebuilt cornice, a restored cast iron column entryway, freshly repainted upper levels, refinished stair railings and banisters, and a newly repaved and striped 8-car parking lot. Secure fob entry with video surveillance adds modern convenience. Major structural and infrastructure improvements include reframed and reinforced commercial-level framing, new electrical service extended from the street, updated gas and sewer lines, a new steel cellar door and skylight, and 2024 NJ Green Card certification— making this a stabilized, income-generating asset with future value-add potential in a high-demand location.

Investment highlights

  • Gut renovated
  • New shopfront windows & doors
  • ADA-compliant bathrooms
  • High ceilings & open floor plans
  • New HVAC systems

Listing Contacts

JH
NJ NJ 0231736
Compass
Listed by Compass

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$151,260.00
$12,605.00/mo

Valuation Metrics

0
DSCR
6.72%
Cap Rate
6.72%
ROI

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Additional Information

Name
Joachim Horvitz
License
NJ 0231736
Brokerage
Compass
Brokerage Phone
2016274947
Title
Sales Person
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