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Ideal Bar & Restaurant w/liquor license 217-219 Frelinghuysen Ave 7,200 SF Vacant Retail Building Newark, NJ 07114 $3,139,424 CAD ($436.03 CAD/SF) 12.05% Cap Rate
INVESTMENT HIGHLIGHTS
- Primary Industry: Restaurant
- Food Seating capacity: 55
EXECUTIVE SUMMARY
Introducing an unparalleled investment opportunity: a fully operational restaurant bar that stands as the epitome of profitability and potential. This property isn't just another venue; it's a lucrative business venture waiting to be seized. Immerse yourself in a world of endless possibilities as this establishment comes fully equipped and in impeccable condition. From the moment you step through the doors, you'll realize the immense potential for success that awaits you. This property stands out because it includes a coveted liquor license, boosting revenue potential from day one. Beyond just a bar, it offers multiple revenue streams with two studio apartments and two full apartments providing rental income opportunities or accommodations for staff members. Additionally, a dedicated banquet area caters to large groups and special events, ensuring a steady stream of patrons year-round. Ample storage space in the walk-in basement and freezers allows efficient inventory management. Entertainment areas on both floors elevate the guest experience, with a DJ booth on each floor for live music events or private functions. This turnkey opportunity promises prosperity, eliminating the hassle of starting from scratch and positioning you for success in the bustling restaurant and bar industry. Seize the moment and transform your entrepreneurial dreams into reality.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
7,200 SF
Building Class
C
Year Built
1950
Price
$3,139,424 CAD
Price Per SF
$436.03 CAD
Cap Rate
12.05%
NOI
$378,294 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.27
Lot Size
0.13 AC
Zoning
I-1
Frontage
49’ on Frelinghuysen Ave
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14-02759-0000-00007 | Improvements Assessment | $842,045 CAD |
| Land Assessment | $90,444 CAD | Total Assessment | $932,490 CAD |
PROPERTY TAXES
Parcel Number
14-02759-0000-00007
Land Assessment
$90,444 CAD
Improvements Assessment
$842,045 CAD
Total Assessment
$932,490 CAD
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Ideal Bar & Restaurant w/liquor license | 217-219 Frelinghuysen Ave
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