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420 CENTRAL AVE JERSEY CITY, NJ 07307
- Commercial / Resale (MLS)
Property Details for 420 CENTRAL AVE, JERSEY CITY, NJ 07307
Features
- Lot Size: 3175 sq. ft.
- Stories: 2
- Heating: 24
- Construction Type: Frame
Facts
- Year Built: 01/01/1900
- Property ID: 902756874
- MLS Number: 24023741
- Parcel Number: 06 02201-0000-00022
- Property Type: Commercial
- County: Hudson
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. 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 25x100 dimensions found in Jersey City, offering a standout opportunity for retail or residential development.
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Property Brokerage:
WEICHERT REALTORS
310 MAIN ST
FORT LEE
NJ
7024
Copyright © 2024 Hudson County Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.