345 Central Ave.
   Jersey Ctiy, NJ 07307
 
  Property Features
Type:   Commercial
Price:   $3,500,000.00
Bedrooms:    Over 20
Bathrooms:   16
Lot Size:   52 X 131 acres
MLS Number:   190014795
 
 
 

Great development opportunity on Central Avenue in the highly sought-after Heights section of Jersey City. "Jersey City's Zoning Board gave approvals on 12/20/18 for a development project at 345 Central Avenue. The project will convert an existing two story structure into a 5 story building with 27 new residential units (19 one bedrooms; 8 two bedrooms) and nearly 7,000 sf of commercial space on the ground floor." This is a rare opportunity for a grocery store chain or other large retailer to grab one of the largest street level space currently available on Central Ave. This property is situated centrally in one of JC's hottest areas markets, quickly becoming a popular alternative to Manhattan, Brooklyn, and Downtown JC. This redevelopment takes advantage of the growing multifamily demand in this hot, low vacancy market, with great rents and new construction condo returns. The moderate construction costs associated with this project will appeal to many types of investors, whether it be a first time or seasoned developer looking to break into The Heights market or a local owner looking to add to their portfolio, with an in-place income stream from the existing retail tenants. - Excellent commute to NYC with Direct buses or quick access to the 9th Street and 2nd Street Light rail Stops. - Excellent view of New York City skyline from upper levels.

Property Highlights

Great Location
City's Zoning Board gave approvals on 12/18
Excellent commute to NYC
Great development opportunity
Commercial space on the ground floor

Ryan McFarland
ryan.boynerealty@gmail.com
Office: 201-451-0950
Direct: 201-744-0624
303 Grove Street
Jersey City, NJ 07302

© 2019 All rights reserved. Designed by AgentImage.com - Real Estate Websites

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. The information at this site is provided solely for informational purposes and does not constitute an offer to sell, rent, or advertise real estate outside the state in which the owner of the site is licensed. The owner is not making any warranties or representations concerning any of these properties including their availability. Information at this site is deemed reliable but not guaranteed and should be independently verified.