About 420 Central Avenue
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.
Features of 420 Central Avenue
| MLS® # | 24023741 |
|---|---|
| Price | $1,699,999 |
| Type | 5+ Mixed Use |
| Style | RTL/APT |
| Status | ACTIVE |
Community Information
| Address | 420 Central Avenue |
|---|---|
| City | Jersey City |
| County | HUDSON |
| State | NJ |
| Zip Code | 07307 |
Amenities
| Features | MUNICIPAL WA |
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Exterior
| Roof | FLAT |
|---|---|
| Construction | 1900-1939 |
Additional Information
| Date Listed | July 23rd, 2024 |
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Listing Details
| Agent | Akash Sharma |
|---|---|
| Office | Weichert Realtors, Fort Lee |