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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.
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Copyright © Garden State Multiple Listing Service, L.L.C. All rights reserved. Updated: 22nd April, 2026 9:47 AM (UTC)
The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.
Copyright © Garden State Multiple Listing Service, L.L.C. All rights reserved. Updated: 22nd April, 2026 9:47 AM (UTC)
Listing Office: HOWARD HANNA RAND REALTY


































































