11 Mathews Ave Riverdale, NJ 07457

This exceptional value-add investment opportunity presents a 8,657 square foot, single-story industrial flex building situated on a 0.54-acre lot in Riverdale, New Jersey. Built in 1963, the property features four units, with a net rentable area of 7,520 square feet. Currently, the building boasts a multi-tenant occupancy, with three units owner-occupied and three units leased, leaving one unit vacant. This presents a unique chance to capitalize on existing rental income while potentially developing the vacant unit and/or further subdividing the space. The asking price is $1,500,000, translating to $173.27 per square foot and $375,000 per unit. The property is zoned for industrial use and boasts a 9-foot ceiling height. Its location in Morris County, New Jersey, offers excellent access to major transportation routes and a thriving business community. The building's flexible layout allows for a variety of uses, making it an ideal investment for both owner-occupiers and investors seeking strong rental returns. This is a rare opportunity to acquire a well-located, multi-unit industrial property with significant upside potential.