Turnkey Restaurant
For Sale
$545,000
Pending
870-872 Broadway, Newark, NJ 07104
Fully equipped restaurant/lounge in a high-traffic area.
Property SizeContact for details
Days on Market631
Property Features for 870-872 Broadway
General Information
Standard status
Pending
Property subtype
Commercial
Listing Agency:
3SIXTY REALTY
(973) 969-3363
Listed By:
JAMILLE HERNANDEZ
Source:
Corcoran
Added: Nov 14, 2024
Changed: Jul 6
Last Checked: Jul 23 at 7:12AM
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 3SIXTY REALTY
Investment Insights
Based on property information with market context.
This restaurant and lounge presents a turnkey opportunity in a prime location. The business benefits from strong community support, consistent revenue, and excellent growth potential. The fully equipped, operational restaurant allows a buyer to avoid startup hassles. Located in a bustling area with high foot traffic and visibility, the restaurant offers a ready-to-go setup. Opportunities exist to expand hours, introduce catering, or refine the menu to boost profits. The property includes a lower level with storage space and finished space. The seller is willing to assist during the transition for a smooth handover. A liquor license C Class - "Plenary Retail Consumption License Title 33" allows alcoholic beverages to be sold on and off the premises. Equipment, inventory, and goodwill are included.
Key Highlights
- Turnkey restaurant opportunity with existing revenue and growth potential.
- Prime location with high foot traffic and visibility.
- Includes all equipment, inventory, and goodwill.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
130k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 32%
Hotels & Casinos 3%
Beauty & Spa 2%
Exxon
Shops & Services
17,016 visits/mo
0.4 miles
AutoZone
Shops & Services
13,201 visits/mo
0.2 miles
Burger King
Dining
11,362 visits/mo
0.2 miles
BP
Shops & Services
10,746 visits/mo
0.2 miles
Dunkin' Donuts
Dining
10,219 visits/mo
0.3 miles
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped restaurant/lounge in a high-traffic area.
Where is this conventional restaurant located?
The property is located at 870-872 Broadway Newark, NJ.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity with existing revenue and growth potential.; Prime location with high foot traffic and visibility.; Includes all equipment, inventory, and goodwill.
