Multifamily

122 Stevens Ave

Listing Price: $1,650,000

Cap Rate
5.88%
Number of Units
9
Price/Unit
$183,333
Price/Gross SF
$227.59
Gross SF
7,250

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the 122 Stevens Ave, a three-story, brick, mixed-use building in Jersey City, New Jersey. The building consists of eight apartments and one retail tenant. The retail tenant has a 17 year lease that expires in 2030.
The property is located approximately two miles from the Journal Square Transportation Center which offers a 15 minute ride to the World Trade Center and a 22 minute ride to Midtown Manhattan via Path. 122 Stevens Ave is also two minute walk from JFK Blvd bus stop which offers a direct ride into the Manhattan.
Jersey City has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The successful public transportation system has sparked new development opportunities in the city as several nearby apartment complexes have been completed and are under construction. The new supply speaks to the value of the location and should continue to drive the local economy which will ultimately push rents.

Investment Highlights

  • The property consists of eight apartments and one retail unit.
  • The property has an effective gross income of $142,764 representing an 5.55% cap rate
  • 15 minutes to NYC and minutes from Historic Downtown Jersey City

Exclusively Listed By

Listing Price: $1,650,000

Cap Rate
5.88%
Number of Units
9
Price/Unit
$183,333
Price/Gross SF
$227.59
Gross SF
7,250

Investment Highlights

  • The property consists of eight apartments and one retail unit.
  • The property has an effective gross income of $142,764 representing an 5.55% cap rate
  • 15 minutes to NYC and minutes from Historic Downtown Jersey City

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the 122 Stevens Ave, a three-story, brick, mixed-use building in Jersey City, New Jersey. The building consists of eight apartments and one retail tenant. The retail tenant has a 17 year lease that expires in 2030.
The property is located approximately two miles from the Journal Square Transportation Center which offers a 15 minute ride to the World Trade Center and a 22 minute ride to Midtown Manhattan via Path. 122 Stevens Ave is also two minute walk from JFK Blvd bus stop which offers a direct ride into the Manhattan.
Jersey City has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The successful public transportation system has sparked new development opportunities in the city as several nearby apartment complexes have been completed and are under construction. The new supply speaks to the value of the location and should continue to drive the local economy which will ultimately push rents.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower