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    292 Passaic Ave Fairfield, NJ 07004

    Sponsored
    For Sale
    $2,650,000

    Turnkey Restaurant, 1.4 Acres, 130 Seats

    Property size:
    3,722 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional opportunity presents a thriving, 130-seat restaurant with a full sports bar and existing liquor license. The turnkey operation is situated on a substantial 1.4-acre lot, providing ample parking with 68 spaces. The property's prime location in Fairfield, NJ, boasts high visibility and convenient access, situated near Essex County Airport and Route 46. Surrounded by a mix of professional buildings and residential areas, this location offers a strong customer base. The current configuration includes a well-established restaurant and bar, ready for immediate operation. A unique expansion opportunity exists to acquire two adjacent single-family homes on a combined 0.82 acres (separate transaction). These parcels, identified as Block 2801, Lots 3 and 4, are zoned C-1 Commercial, allowing for potential expansion or redevelopment of the entire site, increasing the total acreage to 2.22 acres. The property's substantial size and strategic location make it an ideal investment for experienced restaurateurs or developers seeking a high-potential commercial venture. The building itself offers 3,722 square feet of space dedicated to the restaurant and bar operations. This turnkey operation offers immediate revenue generation and significant long-term growth potential. The combined property, if expanded, would offer a substantial footprint in a desirable location.

    Property Features for 292 Passaic Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,722 SF
    Lot Size
    60,984 SF

    Building Details

    Year Built
    1997
    Location Intelligence

    Current Use by Public Records

    Tavern 292 American Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Essex
    State
    New Jersey
    Longitude
    -74.27113
    Latitude
    40.88216

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    FAQs

    What type of property is this?
    Commercial real estate - Turnkey Restaurant, 1.4 Acres, 130 Seats
    Where is this commercial real estate located?
    The property is located at 292 Passaic Ave Fairfield, NJ.
    What is the asking price?
    The asking price for this property is $2,650,000.
    (973) 992-6363
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    292 Passaic Ave Fairfield, NJ 07004
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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
    292 Passaic Ave Fairfield, NJ 07004
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