NJ > Jersey City
Jersey City, NJ 07307,296 Palisade AVE
Jersey City, NJ 07307,296 Palisade AVE
Jersey City, NJ 07307,296 Palisade AVE
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$1,599,000
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Under Contract

296 Palisade AVE Jersey City, NJ 07307

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Isaac De Castro

Isaac De Castro

+1(646) 626-7901

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res/Com Mixed

Listing Status Under Contract

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.

Location

State NJ

County Hudson

New Jersey MLS (NJMLS)

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Isaac De Castro

Isaac De Castro

Real Estate Advisor | 3561456; 1750974; 10401278264

+1(646) 626-7901

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