See all 18 photos
18 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$865,000
Est. payment /mo
2,613 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4008149
Year Built 1930
Annual Tax Amount $8,604
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
High-performing mixed-use investment property offering an over 8% cap rate in a prime redevelopment zone with exceptionally low taxes. This stabilized asset provides immediate cash flow with long-term upside. The first floor features a busy 2,600 sq ft restaurant/event hall with seating for up to 120 patrons, central air, forced air heat, and a full-length open basement currently used by the commercial tenant. The second floor includes two 2-bedroom, 1-bath residential units, each with living and dining rooms. Both apartments were fully renovated in 2018 and feature forced hot air heating. The entire building was completely renovated in 2018, including roof, plumbing, electrical, and all units, with all work completed to code minimizing near-term capital expenditures. All three units have separate utilities. Current rents are $4,500 (commercial) and $1,600 each for the residential units, with apartments rented below market value, presenting a clear value-add opportunity. Residential leases expire April and May 2026, allowing for future rent repositioning. Property is fully occupied with strong tenants. Located within a redevelopment zone, this property offers multiple exit strategies including continued cash-flow ownership, rent optimization, or future redevelopment. Ideal for investors seeking a turn-key, income-producing asset with upside potential in a growing area.
Location
State NJ
County Passaic
Zoning MSRA
Rooms
Basement Full, Unfinished
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Equipment Appliances, Fire Alarm, Kitchen Area, Restrooms - Public, See Remarks, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block
Utilities Available Gas-Natural
Roof Type Flat
Building
Lot Description Level Lot
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
Read Less Info
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by HOWARD HANNA RAND REALTY
GET MORE INFORMATION