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Restaurant - Rental Income - Development Site 897 Ringwood Ave 2,400 SF 100% Leased Retail Building Haskell, NJ 07420 $1,500,000 ($625/SF)
Executive Summary
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 instantly.
The Restaurant: A Turnkey Culinary Destination
The heart of the property is a fully renovated, functioning (QSR) restaurant that blends modern aesthetics with operational efficiency.
* Complete Overhaul: New HVAC, plumbing, electrical systems, framing, insulation, bathrooms, etc.
* Designer Finishes: Contemporary dining room with high-end fixtures and a welcoming atmosphere.
* Chef’s Kitchen: Fully equipped with commercial-grade appliances and optimized for high-volume service.
The Residential Component: Single-Family Rental
Attached to the restaurant is a well-maintained single-family home, currently utilized as a rental property.
* Passive Income: Provides a steady, reliable monthly revenue stream from day one.
* Versatility: Perfect for an on-site manager’s residence, a long-term rental, or a short-term "AirBnB" style conversion.
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 house
Concept D: 9-units, 1,000sf per unit over 3 floors (knock down all existing structures)
The "Hidden" Revenue: Active Truck Parking
While you plan your next move, the expansive lot doesn't sit idle. The property currently generates auxiliary income by leasing out truck parking spots—a high-demand service in this corridor with minimal overhead.
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 instantly.
The Restaurant: A Turnkey Culinary Destination
The heart of the property is a fully renovated, functioning (QSR) restaurant that blends modern aesthetics with operational efficiency.
* Complete Overhaul: New HVAC, plumbing, electrical systems, framing, insulation, bathrooms, etc.
* Designer Finishes: Contemporary dining room with high-end fixtures and a welcoming atmosphere.
* Chef’s Kitchen: Fully equipped with commercial-grade appliances and optimized for high-volume service.
The Residential Component: Single-Family Rental
Attached to the restaurant is a well-maintained single-family home, currently utilized as a rental property.
* Passive Income: Provides a steady, reliable monthly revenue stream from day one.
* Versatility: Perfect for an on-site manager’s residence, a long-term rental, or a short-term "AirBnB" style conversion.
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 house
Concept D: 9-units, 1,000sf per unit over 3 floors (knock down all existing structures)
The "Hidden" Revenue: Active Truck Parking
While you plan your next move, the expansive lot doesn't sit idle. The property currently generates auxiliary income by leasing out truck parking spots—a high-demand service in this corridor with minimal overhead.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,400 SF
Building Class
C
Year Built/Renovated
1920/2023
Price
$1,500,000
Price Per SF
$625
Percent Leased
100%
Building Height
2 Stories
Building FAR
0.10
Lot Size
0.54 AC
Zoning
B
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Firestix Greek Grill
- Accommodation and Food Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Firestix Greek Grill | Accommodation and Food Services | - | - | - |
Property Taxes
| Parcel Number | 13-00305-0000-00012 | Improvements Assessment | $154,300 |
| Land Assessment | $181,100 | Total Assessment | $335,400 |
Property Taxes
Parcel Number
13-00305-0000-00012
Land Assessment
$181,100
Improvements Assessment
$154,300
Total Assessment
$335,400
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Restaurant - Rental Income - Development Site | 897 Ringwood Ave
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