Technical
Financial
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Property profile

86 Spg Vly Rd Park Ridge, NJ 07656

OFF-MARKET
Commercial real estate
Property ID
US59-2925069
0.95 ac lot Built 1927
Entity Owned 17-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional opportunity presents a fully operational, 5,000 square foot restaurant in Park Ridge, NJ, boasting a coveted plenary liquor license (#33). Situated on a nearly one-acre lot (41,382 sq ft) with 30 parking spaces, this two-story building offers significant expansion potential. Built in 1920 and renovated in 2008, the property features a fully equipped kitchen with walk-in refrigerators and a prep kitchen in the lower level. The main dining area comfortably seats 75 patrons, with additional bar seating for 12. The restaurant, previously a highly successful establishment recognized with a 2023 Diners' Choice Award, is located in a prime Bergen County area, surrounded by affluent communities and boasting excellent street visibility. The R20 zoning allows for various uses. The property's location provides easy access to major roadways, including the Garden State Parkway, and benefits from a high average median income of $195,000 in the surrounding area. This turnkey operation presents a rare chance to acquire a thriving business in a desirable location, with ample room for growth and development. The asking price is $1,879,000 ($375.80/sq ft).

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1927
Construction TYPE NOT SPECIFIED
Lot 0.95 ac (41,578 SF)
APN 47 00903-0000-00004
UPID US59-2925069

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

86 Spg Vly Rd Park Ridge, NJ 07656-1857
Park Ridge metro Census 43001 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$370k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$370k

Owner & transaction history

since 2008
7 recorded transactions
2024
Price N/A
2022
Price N/A
2019
Price N/A
2008
$1.1M
2007
$1.1M
2004
$282,947
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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