718 Washington St, Hoboken, NJ 07030

Property Description

718 Washington Street presents a rare, fully occupied mixed-use investment opportunity positioned directly on Hoboken's premier retail and residential corridor. The property pairs a ground-floor retail storefront with three residential apartments, generating $126,912 in current annual gross income against documented operating expenses for a net operating income of $95,826 and a 4.62% cap rate at the $2,075,000 asking price. Income stability is a defining feature here: the commercial tenant is locked into a lease with contractual $75/year rent escalations running through 2036, while all three rent-stabilized residential units carry leases through mid-2027, offering a durable, predictable revenue stream with built-in upside. The building shows exceptionally well, with the common areas recently refreshed top to bottom—new paint, new lighting, and a new runner throughout the hallways—reducing near-term capital needs for a new owner. Operationally, it's turnkey, with separate electric meters for each unit and a dedicated water meter and water heater serving the commercial space, simplifying management and expense allocation. Situated on Washington Street—Hoboken's walkable, high-traffic Main Street lined with shops, restaurants, and steady foot traffic, and just minutes from the PATH, ferry, and NJ Transit connections into Manhattan—this asset combines a trophy location, in-place income, and long-term escalating cash flow that is difficult to replicate in this market.