310-312 Adams St Newark, NJ 07105

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

Location Insight

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

Property Tax & Assessments