For Sale
$1,500,000

11 Mathews AveRiverdale, NJ 07457

Multi-unit industrial building, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • 8,657 SF single-story industrial flex building on a 0.54-acre lot in Riverdale, NJ.
  • Four-unit building with 7,520 SF of net rentable area.
  • Multi-tenant occupancy with three owner-occupied and three leased units, one vacant unit.
  • Asking price: $1,500,000 ($173.27/SF, $375,000/unit).
  • Industrially zoned with 9-foot ceilings.
  • Excellent access to major transportation routes in Morris County, NJ.

Property Details for 11 Mathews Ave

Property type
Industrial properties, Flex space
Square Feet
8,657 SF
Year Built
1963
Buildings
1
Stories
1
Lot Size (sq. ft)
23,522 SF
Units
4

Location Insight

City
Riverdale
County
Morris
State
New Jersey
Latitude
40.999600028017
Longitude
-74.321837388352
11 Mathews Ave, Riverdale, New Jersey

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11 Mathews Ave
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