NJ
Passaic
Wanaque Boro
07420
897 Ringwood Ave
897 Ringwood Ave, Wanaque Boro, NJ 07420
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Listing Type
Commercial/Industrial
Listing Status
Active
10
$1,500,000

Home Details for 897 Ringwood Ave

Price
$1,500,000
Type
Commercial Sale
Year built
1920
Lot size acres
0.55
County
Passaic
Basement
Finished
Days on site
22
MLS Listing#
4017006
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.

Property Features
  • Heating Information
    • Forced Air
    • Natural Gas
  • Cooling Information
    • Central Air
  • Water Features
    • Public
  • Utilities
    • Natural Gas Available
  • Basement
    • Finished
Listing Courtesy: BHHS FOX & ROACH - 973-992-6363
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Median Listing Price
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Market statistics compiled from data from Garden State MLS.
EXIT SOLGAR REALTY
200 Diamond Bridge Ave, Hawthorne, NJ 07506
Office
973 282 8642
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