420 Central Avenue
Jersey City, New Jersey
$1,699,999 Price
- Bedrooms   - Baths

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...

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 courtesy of Weichert Realtors Fort Lee, Akash Sharma 2015921400

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Jersey City, New Jersey
Type:
Price: $1,699,999
Last Updated: 1/6/2025
Web ID: 324023741

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Welcome to Jersey City! Situated just across the Hudson River from Manhattan, Jersey City is a diverse and vibrant city with a rich history and a variety of attractions. Jersey City is divided into several neighborhoods, each offering its unique charm and amenities.

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