1. New Jersey
2. Jersey City
3. 420 Central Avenue

420 Central Avenue, Jersey City, NJ 07307

Property 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 25x100 dimensions found in Jersey City, offering a standout opportunity for retail or residential development. Please note seller's agent is related to seller.

Listing Status:

Active

Date Added:

July 23, 2024 at 05:00AM

Listing Office:

Weichert Realtors, Fort Lee : (201) 592-1400

Listing Agent:

Akash Sharma : (201) 364-5828

MLS ID:

24023741

Construction

• Roofing: Flat

Location

This listing courtesy of Akash Sharma, Weichert Realtors, Fort Lee