The code posted by Jon was close, we actually need to step into the first row before getting data. The snippet of code below will allow a developer to connect to IRIS and pass a query string then obtain the result, all using Node.js. I hope this helps someone else attempting the same thing. 

var irisobj = require('iris');
var myData = new irisobj.IRIS();
var result ={ path:"C:/InterSystems/IRIS/Mgr",
                       username: "USERNAME",
                       password: "PASSWORD",
                       namespace: "YOURNAMESPACE"

var result = myData.invoke_classmethod({class: "%SYSTEM.SQL", method: "Execute", arguments: ["SELECT TOP 1 ID FROM SOMETABLE"]});
var o = {oref: result.result};

myData.invoke_method(o, '%Next');
var value = myData.invoke_method(o, '%GetData', 1);