The sale includes: 3-Family Investment Property, Vacant Restaurant, and "33" Riverdale Liquor License
Property Overview:
For sale is this freestanding mixed-use property on one of Riverdale's busiest commercial corridors. The offering includes a fully-equipped restaurant space with its own Riverdale “33” Plenary Retail Consumption liquor license, plus a three-family residential building and dedicated garages — delivering multiple income streams under one roof. The restaurant is currently vacant while undergoing cosmetic upgrades, giving a new owner-operator the flexibility to open turnkey or customize the space, while the residential units and garages provide immediate, stable cash flow from day one. Ideal for an owner-operator looking to run their own restaurant while collecting residential rental income, or for an investor seeking a stabilized, multi-income asset with upside in a high-visibility Morris County location.
Income Summary:
1 Bedroom Apartment (leased) - $1,000/month - $12,000/annual
2 Bedroom Apartment (leased) - $1,700/month - $20,400/annual
2 Bedroom Apartment (leased) - $2,350/month - $28,200/annual
Freestanding Restaurant (vacant) - *$4,950/month - $59,400/annual
2-Car Garage (leased) - $450/month - $5,400/annual
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Total Potential Gross Income - $10,900/month - $130,800/annual income
*Restaurant income reflects market rent if leased. The space may alternatively be owner-occupied, in which case the restaurant line above is foregone in exchange for direct business use and income.
Annual Expenses:
Property Taxes: $11,799
Septic Pumping: $2,100
Restaurant = 2,200 SF +/-
3-Family Residence = 2,285 SF +/-