Hoboken's main street
Washington Street is the spine of Hoboken. It is a tree-lined commercial street of boutiques, restaurants, cafes and neighborhood services, with apartments in the upper floors of most buildings. Because homes sit directly above the shops, the street has steady foot traffic from people who live, work and eat within a few blocks.
Getting to and from Washington Street
- Bus. The NJ Transit 126 runs along Washington Street between Hoboken Terminal and the Port Authority Bus Terminal in Manhattan. The bus stops right outside 718 Washington Street.
- PATH. The Hoboken PATH terminal is about a mile from 718 Washington Street. From there, PATH reaches the World Trade Center in about 11 minutes and 33rd Street in about 13 minutes, and runs around the clock.
- Bike and on foot. Dedicated bike lanes run along Washington Street, and almost everything on the street is walkable.
What's nearby
The 700 block of Washington Street sits among restaurants, shops and daily services, with parks close by, including Church Square Park and Elysian Park, and the waterfront walkway a short walk away. Residents can handle most of their daily errands on foot, which is part of what keeps both the retail and the apartment demand on the street steady.
Why mixed-use buildings suit this street
A ground-floor storefront gives a building a business tenant on a busy street, while the apartments above add residential income. For an investor, that combination means two sources of rent in one building, on a street where people already come to shop and eat. It also means the building's value depends on the stability of both: the retail lease and the residential leases.
Case study: 718 Washington Street
718 Washington Street is a brick mixed-use building on a 21′ × 75′ lot. It has a retail storefront leased to a nail salon and three one-bedroom, one-bathroom apartments above. The building is fully occupied, with current monthly income of $10,576.05 ($126,912.60 a year), net operating income of $95,825.98, and a current cap rate of 4.62% at the $2,075,000 asking price.
- Retail: $4,525.00 per month, renews 12/1 annually, +$75/yr escalations through 2036.
- Apartments: $1,930.55, $1,981.80 and $2,138.70 per month; rent stabilized and registered with the City of Hoboken; leases run through 06/30/2027.
- Other features: separate electric meters, a basement with laundry, storage and utility space, and a fenced rear courtyard.
For the full rent roll, floor plans and photos, see the 718 Washington Street property page, or read our guide to investing in Hoboken mixed-use properties.
Frequently asked questions
Is there a bus on Washington Street in Hoboken?
Yes. The NJ Transit 126 runs along Washington Street between Hoboken Terminal and the Port Authority Bus Terminal, and it stops right outside 718 Washington Street.
How far is 718 Washington Street from the PATH train?
The Hoboken PATH terminal is about a mile away. PATH takes about 11 minutes to the World Trade Center and about 13 minutes to 33rd Street.
What parks are near Washington Street?
Church Square Park and Elysian Park are both nearby, along with the waterfront walkway.
What kinds of businesses are on Washington Street?
The street is lined with restaurants, cafes, boutiques and neighborhood services, with apartments above. The retail space at 718 Washington Street is leased to a nail salon.