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Listed by Jill Biggs Coldwell Banker, Hoboken
$ 1,599,000
Est. payment | /mo
$ 1,599,000
Est. payment | /mo
Key Details
Property Type Multi-Family, Commercial
Sub Type Res/Com Mixed
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25036275
Style Res/Com Mixed
Property Sub-Type Res/Com Mixed
Property Description
Seize a rare opportunity to acquire a renovated, mixed-use income property at 296 Palisade Avenue, positioned on one of the Jersey City Heights' most high-traffic and desirable thoroughfares. This is a true turnkey asset for the discerning investor, offering a strong and diversified revenue stream from both commercial and residential tenants. The building underwent a complete gut renovation in 2012, ensuring modern infrastructure, updated finishes, and significantly minimizing near-term capital expenditures. Notably, the roof and all HVAC systems were replaced in 2012, providing peace of mind and long-term operating efficiency. The ground floor features a substantial commercial condo totaling approximately 2,200 rentable square feet of space. This includes 1,200 square feet of high-visibility ground floor retail/commercial space, coupled with an additional 1,000 square feet of rentable basement space (1,200 sq. ft. total basement, minus 200 sq. ft. for mechanicals). The commercial unit is currently occupied by a stable tenant, anchoring the building's income. Above the commercial space are two well-appointed, income-generating residential rental units, each spanning approximately 700 square feet. Adding further value and income potential is a highly coveted, single parking spot, currently rented out month-to-month—a significant premium in this dense urban market. Located in the heart of the booming Heights neighborhood, 296 Palisade Avenue offers unparalleled access to loca
Location
State NJ
County Hudson
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