1 Mill St Bernardsville, NJ 07924

This exceptional fee-simple property, located at 1 Mill Street in Bernardsville, New Jersey, presents a rare opportunity to acquire a thriving, upscale restaurant. The 9,909-square-foot building, originally constructed in 1846 and extensively renovated in 2021, boasts a rich history as a landmark in Olcott Square. Currently operating under a modified lease with a corporate guarantee, the single-tenant lease has a remaining term of approximately 1.1 years, expiring December 31, 2025, with a 5-year renewal option. The property features three stories, 30 parking spaces, and sits on a 0.4-acre lot. The building is zoned D-CO and offers a compelling net operating income (NOI) of $178,000, resulting in a 4.46% cap rate. The asking price is $3,990,000, translating to a price per square foot of $402.66. The property's prime location in the heart of Bernardsville, near public parking and the Quimby Lane Redevelopment Plan District, ensures high visibility and accessibility. This turnkey operation includes a multi-floored restaurant with both formal and casual dining areas, along with an outdoor dining space. The extensive renovations completed in 2021, along with previous upgrades in 2007 and 2016, ensure the property is in excellent condition. This is an exceptional investment opportunity for discerning buyers seeking a high-performing asset in a desirable location.