Listed by Marcus & Millichap - New Jersey
$7,770,000
Downtown Jersey City Mixed-Use
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Storefront
Net Rentable (SqFt) 17,850
Cap Rate 6.29%
NOI $488,992
Occupancy 93%
Tenancy Multi
Year Built 1887
Acreage 0.120
Zoning NC-1
Mixed Use | 6.29% CAP
Marketing description
Marcus & Millichap is pleased to exclusively present 350-3352 Grove Street, Jersey City, Hudson County, New Jersey.
Investment highlights
- Rare, Corner +/- 17,850 SF Brick Building On Grove St In Downtown Jersey City, NJ
- Mixed-Use Property Consisting Of 1 Retail Unit And 12 Residential Apartments With Separate Utilities
- New 10-Year, NNN Lease With Wonder – Parent Company Of GrubHub And Most Recently Valued Over $7 Billion With Over 92 East Coast Locations
- Residential Unit Mix: (6) 3 Bed/1 Bath, (3) 2 Bed/1 Bath And (3) 1 Bed/1 Bath
- Significant Capital Improvements Recently Made To The Exterior And Interior Of The Building
- Retail Space Gut Renovated By Tenant Showing Long Term Commitment To The Location
- 1 Block To The Grove St. Path Sation With Direct Access To NYC And 1 Block To The Newark Ave Pedestrian Plaza With Shopping And Dining
- Superior Demographics With Over 83,000 People With An Average Income Over $187,000 Within 1-Mile Of The Subject Property
Listing Contacts
Listed by Marcus & Millichap - New Jersey
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$488,992.00
$40,749.33/mo
Valuation Metrics
0
DSCR
6.29%
Cap Rate
6.29%
ROI
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