Turnkey Restaurant and
246 Mulberry St Newark, NJ 07102
246 Mulberry St, Newark, NJ, 07102
$700,000
For Sale
$700,000
Turnkey space with a full prep kitchen, dry bar, enclosed patio, and guest bathrooms for immediate restaurant use.
Property Size1,806 SF
Price / SF$387.60
Days on Market30
Property Features for 246 Mulberry St
General Information
- Standard status
- Active
- Size
- 1,806 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing Agency
EXP REALTY, LLC
(866) 201-6210
Listed by
DEAN CLARK · License #0681077
Source
Corcoran
Added: Jun 19 Checked: Jul 17 at 3:33 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This turnkey restaurant and lounge offers an efficient linear layout that moves guests from a front-of-house lounge area into a back-of-house setup, with additional outdoor enjoyment through an enclosed patio. The main lounge features marble-patterned flooring, brick feature walls, and textured masonry. A prominent dry bar anchors the room with a slatted-wood facade and glass shelving, paired with premium leather booths for an intimate setting. Two private bathrooms are also provided. Behind the scenes, the property includes a functional prep kitchen with stainless steel-lined surfaces, a multi-compartment sink, dedicated glassware shelving, and refrigeration space designed to support quick service.
Located in a redevelopment zone in Newark City, NJ, the property is positioned as a ready-to-operate hospitality option within an area intended for renewed development activity. The combination of interior lounge space and an enclosed patio supports programming beyond standard seated dining.
For operators, this configuration can support a lounge-forward restaurant concept with a real bar component, a dedicated prep kitchen, and facilities for guests. The enclosed patio adds flexibility for private gatherings or extended service without changing the core layout. The property’s turnkey nature is built around the existing front-of-house and back-of-house improvements, allowing a tenant or buyer to move toward operations with minimal rework to the described food-and-beverage workflow.
Located in a redevelopment zone in Newark City, NJ, the property is positioned as a ready-to-operate hospitality option within an area intended for renewed development activity. The combination of interior lounge space and an enclosed patio supports programming beyond standard seated dining.
For operators, this configuration can support a lounge-forward restaurant concept with a real bar component, a dedicated prep kitchen, and facilities for guests. The enclosed patio adds flexibility for private gatherings or extended service without changing the core layout. The property’s turnkey nature is built around the existing front-of-house and back-of-house improvements, allowing a tenant or buyer to move toward operations with minimal rework to the described food-and-beverage workflow.
Key Highlights
- 1,800 SF commercial property built in 1950 with a linear interior layout
- Main lounge includes a dry bar with slatted‑wood facade and glass shelving plus leather booths
- Dry bar lounge area features two private bathrooms
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.3k | $31.20 |
| − Vacancy | −$4.5k | −$2.50 |
| EGI | $51.8k | $28.70 |
| − OpEx | −$13.0k | −$7.18 |
| NOI | $38.9k | $21.53 |
1,806 SF · lease $31.20/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 5.55%
Second Best
Industrial
$265.4K
$232.2K – $309.6K
NOI $18,578 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$639.9K
$559.9K – $746.6K
NOI $44,793 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Western Affordable Dentistry
Dental Office
Taylour Peighton Lounge
Bar & Pub
Similar For Sale Nearby
Similar Off Market Nearby
- Three Friends Tavern — 198 McWhorter St Apartment 1, Newark, NJ 07105
- The Boulevard — 335 Mulberry St, Newark, NJ 07102
- Club Portuguese Barra — 303 lafayette st, newark, nj 07105
- Oasis Bar & Restaurant — 184 Elm St, Newark, NJ 07105
- The Garden Lounge on — 51 Pacific St Apartment 1, Newark, NJ 07105
FAQs
What type of property is this?
Bar & Pub - Turnkey space with a full prep kitchen, dry bar, enclosed patio, and guest bathrooms for immediate restaurant use.
Where is this bar & pub located?
The property is located at 246 Mulberry St Newark, NJ.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1,800 SF commercial property built in 1950 with a linear interior layout; Main lounge includes a dry bar with slatted‑wood facade and glass shelving plus leather booths; Dry bar lounge area features two private bathrooms
