296 Palisade Ave, Jc, Heights, NJ 07307

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. Located in the heart of the booming Heights neighborhood, 296 Palisade Avenue offers unparalleled access to local amenities, popular eateries, and the scenic Riverview-Fisk Park. The location is a commuter's dream, providing easy access to Manhattan via the Congress Street elevator to the 9th Street/Congress Street Light Rail station and various direct bus lines to NYC. This exceptional investment offers the perfect blend of stability, modern condition, and a prime location in one of New Jersey’s hottest real estate markets.