342 Communipaw Ave Jersey City, NJ 07304

This exceptional mixed-use property at 342 Communipaw Ave, Jersey City, NJ, presents a compelling investment opportunity. The 2024-built, Class A building features four units: three 1,275 square foot, three-bedroom apartments and one ground-floor retail space totaling approximately 1,350 square feet (plus 264 square feet of outdoor space). Projected annual rent is $196,440, yielding a 6.02% pro-forma cap rate on the $2,500,000 asking price. The property sits on a 0.045-acre lot and is zoned MU-A, per the Morris Canal Redevelopment Plan. Located in a rapidly growing market with strong economic fundamentals, this property offers convenient access to major transportation hubs, highways, and amenities, including proximity to New York City. The estimated monthly commercial rent (including tenant reimbursements) is $5,000, and the projected monthly rent per apartment unit is $3,795. The building is currently vacant, with an occupancy date of October 15, 2024. The Net Operating Income (NOI) is projected at $150,600. This property is situated within an Opportunity Zone, providing additional investment incentives. This is an ideal investment or owner-user opportunity.