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Property profile & analytics
OFF-MARKET Estimated value $1,395,000
Commercial real estate

1 Ml St Bernardsville, NJ 07924-2227

9,909 SF 0.4 ac lot
Individually Owned 10-yr Hold ~ Est. High Equity
Property ID
US59-0781566
Property summary
AI-generated overview

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 faГ§ade 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 profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Construction FRAME
Total area 9,909 SF
Lot 0.4 ac (17,424 SF)
Zoning code D-CO
APN 03 00069-0000-00038
UPID US59-0781566
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Ristorante MV Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.70M
Blend (final) Blend
$1.40M
Owner & transaction history
Atutmn Leaf Lcc · 10 yrs held
Atutmn Leaf Lcc
since 2016
3 recorded transactions
2016
$1.5M
2007
Price N/A
2007
$999,000
Zoning & alternative use
D-CO · Bernardsville, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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