388 Communipaw AveJersey City, NJ 07304

Property Details for 388 Communipaw Ave

Year built

2000

Lot size

0.06 AC

Property size (Sq ft)

1,210 SF

Property type

Office properties

Property subtype

Other office properties

APN

06 20002-0000-00012-0000-C8001

APU

06200020000000120000C8001

Description

This exceptional Jersey City property offers a unique opportunity for a restaurant, café, or other hospitality business. Located at 388 Communipaw Avenue, this single-tenant space boasts 1,200 square feet on the main level, complemented by a spacious 2,000-square-foot basement and a private 150-square-foot courtyard. The flexible layout allows for customization to suit various concepts. Situated between Downtown Jersey City and the Canal Crossing Redevelopment Plan, this corner unit benefits from high visibility and significant foot traffic. The Canal Crossing project, slated for completion by 2030, will add over 8,000 residential units and substantial commercial space, dramatically increasing the area's population and consumer base. This surge in residential development, including numerous luxury projects, creates a strong demand for new dining and social experiences. The property's strategic location at the nexus of two major growth zones ensures strong potential for future appreciation and a thriving business environment. The 07304 zip code offers easy access to various transportation options and amenities. This is an unparalleled chance to establish a presence in a rapidly evolving and highly desirable area of Jersey City. The property is ideal for entrepreneurs seeking to capitalize on the significant growth and development within the community.

• CAP approach

  CAP return

  Valuation

  6%

  $200,049

  6.5%

  $184,661

  7%

  $171,471

• Comparable approach

  Method

  Valuation

  Relative Method

  $158,099

  Geo Method

  $158,099

• Alternative Use

  Use

  Valuation

  Residential

  $228,979

  Hospitality

  $209,744

  Educational

  $174,504

  Medical

  $180,506

  Retail

  $271,451

Location Insight

City

Jersey City

County

Hudson

State

New Jersey

Latitude

40.7128

Longitude

-74.0638

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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