59 St Mihiel Dr Riverside, NJ 08075
- Specialty properties
- 3,400 SF
- 0.50 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 59 St Mihiel Dr
- Year built
- 1987
- Lot size
- 0.50 lot acres
- Property size
- 3,400 SF
- Property type
- Specialty properties
- Property subtype
- Hospitality properties
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Riverside
- County
- Burlington
- State
- New Jersey
- Longitude
- -74.9757
- Latitude
- 40.0311
