10
See all 10 photos
$1,500,000
Est. payment /mo
2,400 SqFt
Active
897 Ringwood Ave Wanaque Boro, NJ 07420
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $625
MLS Listing ID 4017006
Year Built 1920
Annual Tax Amount $15,230
Tax Year 2025
Lot Size 0.550 Acres
Property Description
Prime Investment Opportunity: Turnkey Hospitality & Multi-Phase Development Opportunity!!Rarely does a property offer immediate cash flow along with development potential. Situated on a high-visibility deep lot, this multifaceted site is ideal for the strategic investor or owner-operator looking to diversify their portfolio.The Restaurant: Fully renovated, functioning (QSR) restaurant. * New HVAC, plumbing, electrical systems, framing, insulation, bathrooms, etc. * Contemporary dining room with high-end fixtures and a welcoming atmosphere. * Fully equipped with commercial-grade appliances and optimized for high-volume service.Single-Family Rental: Attached to the restaurant is a single-family home, currently utilized as a rental property.The Future: Conceptual Apartment Development!Maximize the "highest and best use" of this land. Included with the sale are professional conceptual drawings for multi-family residential expansion designed by the township engineer.Concept A: 11-units ,1,236sf per unit over 3 floors (knock down all existing structures)Concept B: 5-units, 1,200sf per unit over 2 floors and keep the existing restaurant but knock down the house Concept C: 3-4 units, 1,500sf per unit over 2 floors and keep the existing restaurant but knock down the houseConcept D: 9-units, 1,000sf per unit over 3 floors (knock down all existing structures)Additional Revenue: Active Truck Parking currently generates auxiliary income by leasing out truck parking spots.
Location
State NJ
County Passaic
Zoning Commercial
Rooms
Basement Finished
Interior
Heating Gas-Natural
Cooling Central Air
Flooring Tile, Wood
Equipment Exhaust System, Furniture, Kitchen Area, Office Equipment, Refrigeration Unit, Storage Area(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by BHHS FOX & ROACH
