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451 Communipaw Ave

30,000 SF 57% Leased Industrial Building Jersey City, NJ 07304 $4,300,000 ($143/SF) 7.89% Cap Rate

Warehouses New Jersey Jersey City 451 Communipaw Ave, Jersey City, NJ 07304

Investment Highlights

  • High Vacancy with Upside on the Lease Up
  • Stable Anchor Tenant
  • Diminishing Supply of this type of space

Executive Summary

Located on Communipaw Avenue, the major east-west corridor in Jersey City, the Lofts at 451 Communipaw Avenue, has an ideal location, in one of Jersey City’s hottest and fastest growing neighborhoods. The Lofts at 451 Communipaw contains two separate buildings, the main building contains, five (5) commercial spaces and the Factory Restaurant and Lounge, located on the entire first floor, for a total of six (6) commercial spaces. The smaller outer building contains the expansion of the Factory Restaurant and outdoor cafe´. In addition, the iconic “Lafayette smoke stack” sits on the property.
The Factory Restaurant and lounge is one of the focal points in the Morris Canal community. The Lofts at 451 Communipaw Avenue is located on 12,715 square feet of property or .29 acres. The main building that comprises 451 Communipaw Avenue is approximately 29,151 square feet, approximately, 7,720 square foot per floor. The property has one (1) loading bay and one (1) freight elevator.
This is an excellent value add opportunity with vacancy and upside on the upper floors and a diminishing supply and high demand for this kind of product in Jersey City. This property is also great for an owner user with plenty of space to run your business.

Attachments

451 Communipaw Ave, Jersey City OM

Property Facts

Price $4,300,000 Lot Size 0.29 AC
Price Per SF $143 Rentable Building Area 30,000 SF
Sale Type Investment or Owner User No. Stories 3
Cap Rate 7.89% Year Built 1929
Sale Conditions High Vacancy Property Clear Ceiling Height 14 FT
Property Type Industrial No. Dock-High Doors/Loading 4
Property Subtype
Warehouse
  • OfficeLoft Creative Space
 No. Drive In / Grade-Level Doors 1
Building Class C Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $4,300,000
Price Per SF $143
Sale Type Investment or Owner User
Cap Rate 7.89%
Sale Conditions High Vacancy Property
Property Type Industrial
Property Subtype
Warehouse
  • OfficeLoft Creative Space
Building Class C
Lot Size 0.29 AC
Rentable Building Area 30,000 SF
No. Stories 3
Year Built 1929
Clear Ceiling Height 14 FT
No. Dock-High Doors/Loading 4
No. Drive In / Grade-Level Doors 1
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Utilities

  • Gas - Natural
  • Water - City
  • Sewer - City
  • Heating - Gas
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Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
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measures access to public transit. Bike Score®
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PROPERTY TAXES

Parcel Number 06-18901-0000-00021 Improvements Assessment $3,155,800
Land Assessment $604,500 Total Assessment $3,760,300

PROPERTY TAXES

Parcel Number
06-18901-0000-00021
Land Assessment
$604,500
Improvements Assessment
$3,155,800
Total Assessment
$3,760,300

zoning

Zoning Code Morris Canal
Morris Canal
(201) 300-6489

  • Listing ID: 33475115

  • Date on Market: 10/10/2024

  • Last Updated:

  • Address: 451 Communipaw Ave, Jersey City, NJ 07304

More public record information on 451 Communipaw Ave, Jersey City, NJ 07304

The Industrial Property at 451 Communipaw Ave, Jersey City, NJ 07304 is currently available For Sale. Contact Grid Real Estate LLC for more information.

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451 Communipaw Ave
(201) 300-6489 x

451 Communipaw Ave

1/2

Chris Vitiello

(201) 300-6489

(201) 300-6489

Bobby Antonicello Jr.

(201) 300-6489

(201) 300-6489

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