1155 Summit Ave - Storefront Retail/Residential FOR SALE


Jersey City, NJ 07307
$1,550,000 USD
201-744-5965
1155 Summit Ave, Jersey City, NJ for Sale
$1,550,000 USD
Storefront Retail/Residential - FOR SALE
1/31
null | 6.9% Cap Rate

1155 Summit Ave
Jersey City, NJ 07307


OVERVIEW

Century 21 Preferred Realty and its Listing Agent Luis A Negron Jr is pleased to present this exclusive opportunity to purchase a strategically located investment property at 1153-1155 Summit Avenue on the corner of Summit Avenue and Poplar Street in Jersey City NJ (The-Heights) 07307. The investment property is comprised of 2 buildings, The First property is a 3 story mixed used building consisting of 1 Commercial (Deli/Convenient Store) and 2 Residential Apartments (3BR & 2BR). The second property is a 2 story building with 2 Residential Apartments (3BR Each). The property is 100% occupied and centrally located in the heights. 1153-1155 Summit Avenue is 1 short block from JF Kennedy Blvd with bus lines that service both the NY Port Authority and the JSQ Path Station as well as a 15 minute walk to the Congress Street Light Rail Station and with its close proximity to Route 3, 139, Pulaski Skyway, NJ Turnpike, GW Bridge, Holland & Lincoln Tunnels makes this property any Investors Dream. The property can be subdivided converting this 4 Residential and 1 Commercial into two Separate property 1153 Summit Avenue (3 Apartments & 1 Commercial) 1155 Summit Avenue (3 Apartments) for a total of 7 units. Once the property is developed the Projected Yearly Gross Income Is Approximately between $240,000.00 and $258,000.00. Currently Trading Net Operating Income: $85,656.00 (2024).

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$287 USD /SF

CAP RATE

6.9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

-

APN/PARCEL ID

06-00801-0000-00011

ASK ABOUT THIS PROPERTY

Luis NegronC21 PreferredMore Info
201-744-5965

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Luis NegronC21 PreferredMore Info
201-744-5965

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