Log In/Sign Up
Your email has been sent.
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
1 of 13
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Restaurant - Rental Income - Development Site | 897 Ringwood Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.