A rare opportunity to acquire a freestanding mixed-use property on one of Riverdale’s busiest commercial corridors. The offering includes a restaurant space with its own Riverdale “33” Plenary Retail Consumption liquor license, plus a three-family residential building and dedicated garages, delivering multiple income streams under one roof. The restaurant is currently vacant while undergoing cosmetic upgrades, giving a new owner-operator the flexibility to open turnkey or customize the space, while the residential units and garages provide immediate, stable cash flow from day one. Ideal for an owner-operator looking to run their own restaurant while collecting residential rental income, or for an investor seeking a stabilized, multi-income asset with upside in a high-visibility Morris County location.

The property is located at 24-36 Paterson Hamburg Turnpike in Riverdale, New Jersey, within Morris County. It is a mixed-use asset comprising a restaurant space of approximately 2,200 SF, fully equipped and currently vacant pending cosmetic upgrades, and a three-family residence of approximately 2,300 SF offering three residential apartments. The sale includes the real estate, restaurant space, dedicated garages, and the Riverdale “33” Plenary Retail Consumption liquor license. Known annual expenses include property taxes of $11,799 and septic pumping of $2,100. The property sits directly on Hamburg Turnpike, Riverdale’s primary commercial corridor, less than half a mile from the NJ Route 23 / I-287 interchange, and is well suited to either an owner-operator seeking restaurant and rental income or a pure investment buyer.

The property offers up to $125,400 in annual gross income, or $10,450 per month, across four income sources. A leased one-bedroom apartment generates $1,000 per month ($12,000 annually); a leased two-bedroom apartment on the main floor generates $1,700 per month ($20,400 annually); a second leased two-bedroom apartment generates $2,350 per month ($28,200 annually); leased garages generate $450 per month ($5,400 annually); and the restaurant space, currently vacant for upgrades, carries a market rent of $4,950 per month ($59,400 annually) if leased, or may alternatively be owner-occupied in exchange for direct business use and income. Buyer and buyer’s agent should independently verify all income and expense figures, including current property taxes with Riverdale Borough and Morris County, prior to closing.

The Riverdale “33” Plenary Retail Consumption liquor license included in this sale is one of the most valuable commercial assets in New Jersey, allowing the sale of all types of alcoholic beverages for on-premises consumption. Its inclusion eliminates one of the most significant barriers to entry for any restaurant or bar concept and adds immediate, substantial value to the offering.

Morris County is one of New Jersey’s top-ranked counties for quality of life, education, and business, home to major corporate employers including Novartis, Bayer, ADP, and Accenture. Its highly educated, high-income residential base, extensive parks system, and direct NJ Transit rail access into New York City make it one of the most desirable commercial markets in the state.

The listing broker has a financial interest in this property.