2 E Passaic Ave - Restaurant FOR SALE


Nutley, NJ 07110
$2,195,000 USD
201-213-0952
2 E Passaic Ave, Nutley, NJ for Sale
$2,195,000 USD
Restaurant - FOR SALE
1/25
null | Request Cap Rate

2 E Passaic Ave
Nutley, NJ 07110


HIGHLIGHTS

  • Long-established restaurant and bar with nearly a century of presence, featuring a thriving customer base and strong local recognition.
  • Includes four fully occupied residential apartments, generating consistent rental income alongside the operating hospitality business.
  • Renovated kitchen and restaurant interiors completed in 2015, complemented by recent mechanical upgrades such as new AC systems and boiler.
  • Features extensive amenities for patrons, including outdoor patio seating, 30 craft beer taps, space for live entertainment, and more.
  • Property spans approximately 7,000 square feet on a 0.41-acre lot, offering corner exposure and on-site parking for about 20 vehicles.
  • Situated in a vibrant Essex County location with strong connectivity and a history of operating profitability, presenting an attractive investment.

OVERVIEW

Opportunity knocks with this mixed-use building offering an iconic, thriving Restaurant/Bar business with a rich history and 4 residential apartments. Established nearly a century ago, The Old Canal Inn is poised to continue propelling forward. Total patron capacity of 186 including the 75 in the dining room. An extensive craft beer list flows through the 30 taps, with a strong customer base which enjoys the outdoor patio, live entertainment, catering, private parties and the in-house regulation shuffleboard table as well as the 22 large screen TVs. The kitchen and restaurant received a total renovation in 2015. AC systems (2022), Boiler (2020). The residential apartments are well-maintained and fully occupied. Turn-key, profitable operation with strong potential for added growth....

FOR SALE DETAILS

PRICE

$2,195,000 USD

PRICE/SF

$323 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront, Storefront Retail/Residential, undefined

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1908

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

B2

APN/PARCEL ID

16-08604-0000-00001

ASK ABOUT THIS PROPERTY

Frank ContursoKeller Williams Suburban RealtyMore Info
201-213-0952

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Frank ContursoKeller Williams Suburban RealtyMore Info
201-213-0952

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.