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    1 Mill St Bernardsville, NJ 07924

    Sponsored
    For Sale
    $3,990,000

    Upscale Restaurant, Turnkey Opportunity

    Property size:
    9,909 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This iconic Bernardsville property, located at 1 Mill Street, presents a rare opportunity to acquire a piece of history. Originally constructed in 1849 as The Old Stone Hotel, this three-story building boasts nearly 10,000 square feet of space, meticulously remodeled and revitalized over the years. Major renovations, including exterior stone repointing and a complete interior overhaul, were completed in 2007, with subsequent updates in 2016 and 2021. The property's rich history is evident in its stunning stone façade and charming character, while modern updates ensure functionality and appeal. Currently operating as a multi-floored upscale restaurant offering both formal and casual dining options, this turnkey operation includes a generous private parking area, supplementing the readily available public parking nearby. The property sits on a 0.4-acre lot and benefits from its proximity to the Quimby Lane Redevelopment Plan District, promising future growth and development in the area. The restaurant's expansive interior space is complemented by an outdoor dining area, providing ample seating for patrons. This exceptional property offers a unique blend of historical charm and modern amenities, making it an ideal investment for discerning buyers seeking a high-profile, established business in a vibrant downtown location. The asking price is $3,990,000.

    Property Features for 1 Mill St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    9,909 SF
    Lot Size
    17,424 SF

    Building Details

    Year Built
    1849
    Property Profile Location Intelligence

    Current Use by Public Records

    Ristorante MV Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bernardsville
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.56958
    Latitude
    40.7191

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    FAQs

    What type of property is this?
    Commercial real estate - Upscale Restaurant, Turnkey Opportunity
    Where is this commercial real estate located?
    The property is located at 1 Mill St Bernardsville, NJ.
    What is the asking price?
    The asking price for this property is $3,990,000.
    (908) 439-3300
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    1 Mill St Bernardsville, NJ 07924
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    Bernardsville, NJ 07924
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Mill St Bernardsville, NJ 07924
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