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    Specialty properties

    59 St Mihiel Dr, Riverside, NJ 08075

    3,400 SF 0.5 ac lot Built 1987
    Property ID
    Property summary
    AI-generated overview

    This exceptional opportunity presents a well-established restaurant and building located at 59 St Mihiel Dr, Riverside, NJ 08075, in Burlington County. The property, built in 1987, boasts a substantial 3,400 square feet of net rentable space situated on a half-acre lot. Currently operating as a single-unit restaurant, it offers significant value-add potential. The business has a loyal customer base, built over many years under the same ownership. However, the current operational schedule limits the business to only 10 months of the year, presenting a clear path to increased revenue and profitability. The property is zoned for commercial use and features a single-story building. The asking price is $1,000,000. The sale includes the building and the established business. Note that there is no liquor license included in the sale. The property is available for occupancy on November 1st, 2024. This is a rare chance to acquire a turnkey restaurant operation with substantial upside in a desirable location. The existing infrastructure provides a solid foundation for a new owner to expand operations and capitalize on the existing loyal customer base. This is an ideal investment for an experienced restaurateur looking to expand their portfolio or a savvy investor seeking a value-add opportunity in a thriving community.

    Property profile
    Verified
    Property type Specialty properties
    Year built 1987
    Total area 3,400 SF
    Lot 0.5 ac (21,780 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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