Mixed-Use
190 Van Nostrand Avenue
190 Van Nostrand Ave, Jersey City, NJ 07305
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 190 Van Nostrand Avenue, a 23-unit mixed-use building with 3 retail suites located in the Greenville neighborhood of Jersey City, New Jersey. Built in 1928, the property generates approximately $254,913 in current Net Operating Income.
In-place rents are significantly below market across all 23 residential units, with current collections of $28,334/month against a market potential of $47,350/month — representing approximately 67% in gross rent upside through unit renovations, tenant turnover, and operational improvements. Upon stabilization, the property is projected to generate $352,142 in Net Operating Income.
190 Van Nostrand Avenue
Investment Highlights
- Brick Walk-Up Mixed-Use Building with 23 Apartments and 3 Commercial Components
- Over 67% Rent Upside Captured Through Capital Improvements and Lease-Up of Below-Market In-Place Rents
- Value-Add Opportunity to Reconfigure Units into Larger Unit Counts to Strengthen the Unit Mix
- Positioned Along an Active Retail Corridor on MLK Avenue, Benefiting from Strong Foot Traffic and Neighborhood Retail Demand
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Brick Walk-Up Mixed-Use Building with 23 Apartments and 3 Commercial Components
- Over 67% Rent Upside Captured Through Capital Improvements and Lease-Up of Below-Market In-Place Rents
- Value-Add Opportunity to Reconfigure Units into Larger Unit Counts to Strengthen the Unit Mix
- Positioned Along an Active Retail Corridor on MLK Avenue, Benefiting from Strong Foot Traffic and Neighborhood Retail Demand
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 190 Van Nostrand Avenue, a 23-unit mixed-use building with 3 retail suites located in the Greenville neighborhood of Jersey City, New Jersey. Built in 1928, the property generates approximately $254,913 in current Net Operating Income. In-place rents are significantly below market across all 23 residential units, with current collections of $28,334/month against a market potential of $47,350/month — representing approximately 67% in gross rent upside through unit renovations, tenant turnover, and operational improvements. Upon stabilization, the property is projected to generate $352,142 in Net Operating Income.
Exclusively Listed By
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