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$ 1,200,000
Est. payment /mo
New
104 Ridgedale Ave Hanover Twp., NJ 07927
9,999 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,999 sqft
Price per Sqft $120
MLS Listing ID 3998270
Annual Tax Amount $14,588
Tax Year 2024
Lot Size 0.280 Acres
Property Sub-Type Mixed Use
Property Description
Welcome to an exceptional income-producing opportunity at 104 Ridgedale Avenue in Cedar Knolls, NJ. This versatile 4-unit commercial property is designed for the discerning investor seeking reliable returns. Featuring a generous lot size of 12,066 square feet, the property stands as a testament to quality and potential.The structure houses a mix of residential and commercial tenants ensuring a steady revenue stream, currently collecting just over $9,600 monthly and over 115,000 annually. On the second floor, a long-term tenant occupies a spacious 2-bedroom apartment for 1800/mo complemented by another 2-bedroom apartment recently renovated in 2023 at 2300 a month. This building has a large 15+ car parking lot, a newer roof, central air conditioning, separate utilities, and a prime location, enhancing tenant comfort and property value. The landlord pays a portion of heat and electric costs for the common areas.The ground floor boosts this property's commercial appeal with a rented hair salon (1800/mo) and a dentist office (3750/mo) each secured with a 5-year lease This unique blend of residential and commercial space, along with its modern amenities, presents an exceptional investment in a strategic location. Explore the possibilities and secure a property that promises both stability and growth.
Location
State NJ
County Morris
Zoning B
Interior
Heating Gas-Natural
Cooling 2 Units, Wall A/C Unit(s)
Flooring Carpeting, Laminate, Vinyl-Linoleum
Equipment See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block, Vinyl Siding
Garage Spaces 15.0
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Corner
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by COMPASS NEW JERSEY, LLC