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Eric DeSilva

eric.desilva@exprealty.com +1(973) 542-9302

$ 1,200,000

Est. payment -/mo

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Under Contract

104 Ridgedale Ave Hanover Twp., NJ 07927

9,999 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Under Contract

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

Highest and best Wednesday at 9am 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

Listed by COMPASS NEW JERSEY, LLC

Nearby Locations

SCHOOLSPROPERTIES

Elementary Schools 20

8

Mountview Road School

Public | KG - 5
7

Sussex Avenue School

Public | 3 - 5
7

Morris Plains Borough School

Public | 3 - 8
6

Alexander Hamilton

Public | 3 - 5
6

Thomas Jefferson School

Public | 3 - 5
6

Unity Charter School

Public | KG - 8
6

Normandy Park School

Public | KG - 5
6

Salem Drive School

Public | KG - 5
0

Cheder Lubavitch

Private | PK - 8
0

Hillcrest School

Public | KG - 2
0

Mountain Way School

Public | PK - 2
0

French American Academy

Private | PK - 1
0

The Red Oaks School

Private | PK - 7
0

St Virgil Elementary School

Private | PK - 8
0

Alfred Vail School

Public | KG - 2
0

Assumption of the Blessed Virgin Mary School

Private | PK - 8
0

The Peck School

Private | KG - 8
0

Woodland School

Public | PK - 2
0

Montessori Children's Academy

Private | PK - KG
0

Allegro School

Private | PK - 12

Middle Schools 3

3

Frelinghuysen Middle School

Public | 6 - 8
0

Villa Walsh Academy

Private | 7 - 12
0

Fusion Academy

Private | 7 - 12

High Schools 4

7

Whippany Park High School

Public | 9 - 12
5

Morristown High School

Public | 9 - 12
0

Shepard High School

Private | 9 - 12
0

Academy of Saint Elizabeth

Private | 9 - 12

School and business data provided by Attom Data.