Ideal Bar & Restaurant w/liquor license | 217-219 Frelinghuysen Ave
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Ideal Bar & Restaurant w/liquor license 217-219 Frelinghuysen Ave
7,200 SF Vacant Retail Building Newark, NJ 07114 £1,961,025 (£272/SF)
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
£1,961,025
Price Per SF
£272
Percent Leased
Vacant
Tenancy
Multiple
Number of Floors
2
Building FAR
1.27
Land Acres
0.13 AC
Zoning
I-1
Frontage
49 ft on Frelinghuysen Ave
PROPERTY TAXES
Parcel Number | 14-02759-0000-00007 | Improvements Assessment | £471,038 |
Land Assessment | £50,594 | Total Assessment | £521,633 |
PROPERTY TAXES
Parcel Number
14-02759-0000-00007
Land Assessment
£50,594
Improvements Assessment
£471,038
Total Assessment
£521,633
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Ideal Bar & Restaurant w/liquor license | 217-219 Frelinghuysen Ave
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