Commercial space For Sale in Jersey City, NJ
MLS# : 250003509
PROPERTY DETAILS
PROPERTY DESCRIPTION
Welcome to 289 MLK Dr, a unique and investment-ready 5-unit mixed-use building in the heart of Jersey City, NJ. This property combines newly renovated residential units and a thriving, fully operational bodega on the ground floor, offering an excellent opportunity for investors or owner-occupants seeking a property with strong income potential. Four spacious 2-bedroom, 1-bathroom apartments featuring contemporary updates, high ceilings, and ample natural light. These units offer modern kitchens, updated bathrooms, central heating and AC, and hardwood floors throughout. The ground-floor retail space is home to a local bodega, providing essential goods to the community and generating steady rental income. Located just 5 blocks from the MLK Light Rail Station, commuting to New York City is convenient and fast. The station connects to the Hudson-Bergen Light Rail, which provides a direct route to Hoboken Terminal in approximately 20 minutes, where you can easily transfer to PATH trains for quick access to Manhattan (about a 10-minute ride). Whether you're looking to build equity or add a reliable income stream, this property provides immense value. Schedule a tour today to see the full potential of this incredible opportunity!
Amenities
This listing is a courtesy of PROVIDENT LEGACY REAL ESTATE SERVICES LLC
201-809-9925 office, listing agent GEORGE W LLERENA
About Jersey City, NJ Real Estate Market
Jersey City currently serves as a prime hub for distribution and transportation terminus for the Port of New York and New Jersey. Ever since the redevelopment of the Jersey City Waterfront happened, Jersey City became a major hub for banking and finance in the United States of America. All these developments in these years also resulted in the development of Hudson County real estate in the city.
Consisting of most of the parts of Ellis Island, Jersey City also surrounds Liberty City through its waters in the Upper New York Bay. Thanks to its proximity and easy connectivity to Manhattan, Jersey City is also considered the sixth borough of New York City. Jersey City has some of the earliest European settlements in North America, which played a crucial role in the development of various sections of the city.
| Population: | 267,345 |
| Total Housing Units: | 104,018 |
| Single Family Homes: | 36,684 |
| Apartments: | 67,334 |
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
| Compare To Other Towns |
Jersey City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $720,864 |
| Homes Sold* (12mo): | 225 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $661,544 |
| Apatments Sold* (12mo): | 1,076 |
APARTMENT SALES
Jersey City, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $375,000 - 3,000,000 | 60 |
| Condos : | $155,000 - 4,148,000 | 364 |
| Co-ops : | $549,000 - 549,000 | 1 |
| Twnhs : | $399,900 - 1,749,000 | 13 |
| 2-4 Fam : | $384,900 - 2,750,000 | 112 |
| 5+ Fam : | $1,200,000 - 1,650,000 | 4 |
| Land : | $299,000 - 5,500,000 | 14 |
| Rentals : | $1,546 - 7,095 | 74 |
| Mixd Use : | $1,200,000 - 3,500,000 | 9 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $60,000 - 2,000,000 | 7 |
