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About This Home
This 0-bedroom, 0-bathroom commercial at 897 Ringwood Ave in Wanaque Boro, NJ is listed for $1,500,000 ($625 per sqft). Built in 1920, the home offers 2,400 sqft of living space on a 0.55 acres lot.
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.
Key Features
- Built in 1920
- 0.55 acre lot
Property Details
Monthly Cost Estimate
$8,022/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
897 Ringwood Ave
Wanaque Boro, NJ 07420
Property Details
Flooring
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 897 Ringwood Ave is listed at $1,500,000 ($625/sqft). The estimated monthly payment is $6,500 based on 20% down at 6.5% interest.
Key features include: Built in 1920, 0.55 acre lot.
This property is listed by Roman Drukarov and can be reached at 9734543218 or Roman.Drukarov@foxroach.com.