Lounge and Bar with Residential
428 Central Avenue Unit 428 East Orange, NJ 07018
428 Central Avenue Unit 428, East Orange, NJ, 07018
$1,500,000
For Sale
$1,500,000
Turn-key, fully remodeled lounge and bar with seating for 100, plus two on-site apartments and basement storage.
Property Size7,500 SF
Price / SF$200
Days on Market322
Property Features for 428 Central Avenue Unit 428
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1930
Listing agency
CB/Schiavone & Associates
(609) 291-9400
Listed by
David Schiavone · License #9588811
(609) 291-9400
Source
Xome
Added: Sep 5, 2025 Updated: Jul 23 at 2:06AM Checked: Jul 23 at 4:02AM
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 CB/Schiavone & Associates
Investment Insights
Based on property information with market context.
This turn-key lounge and bar was fully remodeled in 2015 and offers approximately 7,500 square feet with seating for about 100 patrons. The space includes a Plenary Retail Consumption (Class C) liquor license. The first floor features a remodeled bar with ample seating and multiple TVs, while the second level provides dining space. In addition, there is a rear bar area with DJ speakers, a loft-style DJ booth, and extra seating.
The property also includes two residential apartments: one four-bedroom, one-bath unit and one two-bedroom, one-bath unit, along with a full basement for storage.
Located in East Orange and within walking distance of the East Orange Train Station, the commute to NYC is described as approximately 25 minutes.
The property also includes two residential apartments: one four-bedroom, one-bath unit and one two-bedroom, one-bath unit, along with a full basement for storage.
Located in East Orange and within walking distance of the East Orange Train Station, the commute to NYC is described as approximately 25 minutes.
Key Highlights
- Approximately 7,500 SF remodeled lounge and bar with seating for 100 patrons in East Orange
- Fully remodeled in 2015; includes a remodeled bar with ample seating and multiple TVs plus additional DJ area
- Includes Plenary Retail Consumption (Class C) liquor license
Local Financial Insights For Multifamily LT 5
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 | $191.7k | $25.56 |
| − Vacancy | −$12.4k | −$1.65 |
| EGI | $179.3k | $23.91 |
| − OpEx | −$53.8k | −$7.17 |
| NOI | $125.5k | $16.74 |
7,500 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.79M
$1.57M – $2.09M
NOI $125,521 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,335 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,088 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mrs. G's restaurant ...
Bar & Pub
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- Lillian's Tremont Lounge — 199 Tremont Ave, Newark, NJ 07106
- The Lounge — Central Ave, City of Orange, NJ 07050
- Mrs. G's restaurant & lounge — 428 Central Ave, East Orange, NJ 07018
- asdfgdsdfdgdsdcascda — 431 main st, east orange, nj 07018
- NOLASCO CONSTRUCTION. LLC — 377 S Harrison St # 17 kk, East Orange, NJ 07018
FAQs
What type of property is this?
Bar & Pub - Turn-key, fully remodeled lounge and bar with seating for 100, plus two on-site apartments and basement storage.
Where is this bar & pub located?
The property is located at 428 Central Avenue Unit 428 East Orange, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 7,500 SF remodeled lounge and bar with seating for 100 patrons in East Orange; Fully remodeled in 2015; includes a remodeled bar with ample seating and multiple TVs plus additional DJ area; Includes Plenary Retail Consumption (Class C) liquor license
