$489,990
$489,990
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3 Baths
SOLD DATE : 10/10/2024
Key Details
Sold Price $489,990
Property Type Commercial
Sub Type Investment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 240011989
Sold Date 10/10/24
Full Baths 3
Annual Tax Amount $8,364
Lot Dimensions 18.8X67.6
Property Description
Welcome to 507 Martin Luther King Drive, a unique mixed-use property in the heart of Jersey City, NJ. This versatile building presents an excellent opportunity for investors and visionaries seeking a project with great potential. First Floor: The ground level features a spacious commercial unit offering flexible usage options. Whether you envision a storefront to attract foot traffic or an office space tailored to your business needs, this area is ready for your creative touch. Its open layout provides the ideal canvas for customization and transformation. Second and Third Floors: Above the commercial space, you’ll find two distinct residential units, each currently configured as two-bedroom apartments. However, with some renovation, each unit has the potential to be reimagined into three bedrooms, accommodating tenants or maximizing rental income. Mixed-use zoning allows for a wide range of applications, from retail to office to residential. With some updates, the property can be transformed to meet modern standards and increase its value. Situated on Martin Luther King Drive, this property benefits from high visibility and easy access to local amenities and public transportation. 507 Martin Luther King Drive offers a canvas brimming with possibilities. Don’t miss out on this chance to shape a space that fits your vision and capitalizes on the growing Jersey City market.
Location
State NJ
County Hudson
Area Jc Bergen-Lafayette
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Bought with AMERICAS ELITE GROUP LLC
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Broker | Lic# 9798051