310-312 Adams St Newark, NJ 07105
- Industrial properties
- 0.04 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 310-312 Adams St
- Lot size
- 0.04 lot acres
- Property type
- Industrial properties
- APN
- 14 00970-0000-00062- 01
- APU
- 140097000000006201
Description
This thriving Italian restaurant, located at 310-312 Adams Street in Newark, New Jersey's vibrant Ironbound section, presents a remarkable investment opportunity. Priced at $160,000, this turnkey business boasts a substantial 21.62% cap rate and a strong net operating income (NOI) of $34,600. The 1,700 square foot space, situated on a 1,736 square foot lot, underwent a complete remodel in 2023. The sale includes all equipment, valued at over $50,000, most of which is less than a year old and still under warranty. This ensures a smooth transition for the new owner. All current employees are willing to remain, providing continuity and established clientele. The current owner is also available to assist with the transition post-closing. This is a fantastic opportunity for an owner-user seeking a profitable, established business with seller financing available. A detailed breakdown of expenses and equipment inventory is readily available upon request. The property is classified as a Class B building with a gross lease. The business is located at the corner of Adams Street and Malvern Street, offering excellent visibility and accessibility. This is a business-only sale
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $625,000
- ML approach
- $680,000
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Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1627
- Latitude
- 40.7216
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
