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728-740 Tonnele Ave 9,000 SF 100% Leased Retail Building Jersey City, NJ 07307 $4,833,045 CAD ($537.00 CAD/SF) 3.29% Cap Rate
Investment Highlights
- The property sits in Jersey City’s Western Slope neighborhood, a transitional area where industrial roots meet residential expansion.
- Tonnelle Ave is a major artery connecting Jersey City to Secaucus and the Lincoln Tunnel. High traffic flow, strong visibility for retail or service.
- Mixed-use retail, a boutique strip with auto services below and loft-style offices above.
- The property has historically been tied to auto repair and service.
Executive Summary
A rare opportunity to blend automotive heritage with modern neighborhood growth. This income-producing property features five established tenants, delivering stabilized cash flow and long-term security. The property sits in Jersey City’s Western Slope neighborhood, a transitional area where industrial roots meet residential expansion. Investors can capitalize on this shift. Currently zoned R-1 with a commercial service station designation. This opens doors for creative redevelopment—whether continuing automotive use or pivoting to mixed-use retail. The property generated a strong Net Operating Income (NOI) of $115,108.35 in 2024, with five tenants contributing to a total income of $171,400.00. Expenses were well-contained at $56,291.65, and capital expenditures were minimal.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
9,000 SF
Building Class
C
Year Built
1940
Price
$4,833,045 CAD
Price Per SF
$537.00 CAD
Cap Rate
3.29%
NOI
$158,950 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.43
Lot Size
0.48 AC
Zoning
R-1, 4A - Commercial
Frontage
175’ on Tonnele Ave
Moderately walkable
60/100
Exceptionally drivable
100/100
Strong public transit
80/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-01201-0000-00008 | Improvements Assessment | $360,959 CAD |
| Land Assessment | $1,572,259 CAD | Total Assessment | $1,933,218 CAD |
Property Taxes
Parcel Number
06-01201-0000-00008
Land Assessment
$1,572,259 CAD
Improvements Assessment
$360,959 CAD
Total Assessment
$1,933,218 CAD
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728-740 Tonnele Ave
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