Properties

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.

Features

  • Heating System : Forced Hot Air
  • Cooling System : Central Air
  • Basement : Finished
  • Roof Deck : Asphalt Shingle
  • Furnished : Tile, Wood
  • Lot Description: Level Lot
  • Tax Assessed Valuation: 335400
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: Gas-Natural

Additional Info

  • Office Name: BHHS FOX & ROACH
  • Office MLS ID: 000341
  • Agent ID: 298368
  • Tax: 15230
  • Tax Year: 2025
  • Application Fee: $0
  • Zoning: Commercial

Commercial For Sale

For Sale
$1,500,000

897 Ringwood Ave, Wanaque Boro, *

  • SQFT 71 Acre
  • Built Year 1920

Details

  • Property Type: Commercial
  • Listing Type: For Sale
  • Listing ID: 5420062
  • Price: $1,500,000
  • Bedrooms: 0
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 1920
  • Year Built Description: Renovated, Unknown
  • Lot Area: 71 Acre
  • Status: Active
  • Days On Market: 172

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Passaic
  • City Wanaque Boro
  • Zipcode *
  • Street: Ringwood Ave
  • Street Number: 897
  • Street Direction: Ringwood Ave
  • Floor Number: 0
  • Longitude: W75° 42' 20.4''
  • Latitude: N41° 2' 12.8''
  • Internet Display Address: No
Property