1 Ml St Bernardsville, NJ 07924-2227
This iconic Bernardsville property, located at 1 Mill Street, presents a rare opportunity to acquire a piece of history. Originally constructed in 1849 as The Old Stone Hotel, this three-story building boasts nearly 10,000 square feet of space, meticulously remodeled and revitalized over the years. Major renovations, including exterior stone repointing and a complete interior overhaul, were completed in 2007, with subsequent updates in 2016 and 2021. The property's rich history is evident in its stunning stone façade and charming character, while modern updates ensure functionality and appeal. Currently operating as a multi-floored upscale restaurant offering both formal and casual dining options, this turnkey operation includes a generous private parking area, supplementing the readily available public parking nearby. The property sits on a 0.4-acre lot and benefits from its proximity to the Quimby Lane Redevelopment Plan District, promising future growth and development in the area. The restaurant's expansive interior space is complemented by an outdoor dining area, providing ample seating for patrons. This exceptional property offers a unique blend of historical charm and modern amenities, making it an ideal investment for discerning buyers seeking a high-profile, established business in a vibrant downtown location. The asking price is $3,990,000.
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Ristorante MV Restaurant
Downtown Corridor Subdistrict (D-Co). 1. Description and Intent. The Downtown Corridor subdistrict extends along Morristown Road east of the core and serves as a portion of the eastern gateway into Bernardsville. The area has a more auto-dependent character than other subdistricts. The intent is to limit the future expansion of this character while recognizi…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
D-CO · Bernardsville, NJDowntown Corridor Subdistrict (D-Co). 1. Description and Intent. The Downtown Corridor subdistrict extends along Morristown Road east of the core and serves as a portion of the eastern gateway into Bernardsville. The area has a more auto-dependent character than other subdistricts. The intent is to limit the future expansion of this character while recognizing that the corridor will remain auto-oriented for the foreseeable future. 2. Permitted uses: Uses as permitted in § 12-12.6, § 12-12.8 and § 12-12.9. 3. Conditional uses: Conditional uses as permitted in § 12-12.7. 4. Prohibited uses: As regulated by § 12-12.10 and residential on a ground floor. 5. Lot Coverage: Maximum 80%. 6. Building Setbacks. (a) Front Yard. Minimum: five feet; Maximum 75 feet. (b) Side Yard. Minimum: five feet. (c) Rear Yard. Minimum: 20 feet. (d) Distance between buildings on same lot: Minimum 20 feet. (e) Frontage buildout: Minimum 60% of the front facade shall extend along the front setback line. 7. Principal Building Height Requirements. (a) Maximum Stories: 2 1/2 stories. (b) Feet to bottom of eave: Maximum 30 feet. (c) Feet to top of parapet: Maximum 35 feet. (d) Story Height as measured floor to floor. (1) Ground level: Minimum 13 feet. (2) Upper level: Minimum nine feet. 8. Accessory Building Height Requirements. (a) Maximum stories: two. (b) Maximum height: 30 feet. 9. Ground floor above sidewalk measured at doorway: zero feet. 10. Building articulation. (a) Flat facade - Primary Street: Maximum 50 feet. (b) Flat facade - Secondary Street: Maximum 50 feet. (c) Permitted attachments subject to § 12-12.16: awnings, canopies, balconies, bay windows, drive-throughs for pharmacies only, porches and stoops. 11. Required Building Transparency. (a) Primary Street Ground Level - Non-residential: Minimum 40% Maximum 80%; For non-residential uses located within a building designed to resemble a single-family residential building type with a porch frontage, required transparency may be reduced to 20%. (b) Secondary Street Ground Level - Non-residential: Minimum 20%; Maximum 80%. (c) Primary Street Ground Level - Residential: Minimum 20%; Maximum 60%. (d) Secondary Street Ground Level - Residential: Minimum 15%; Maximum 60%. (e) Upper Level: Minimum 15%; Maximum 50%. 12. Parking setbacks from property lines. (a) Primary Street: Minimum five feet; Surface parking is limited to one double-loaded aisle of parking between the building and the street. (b) Secondary Street: Minimum five feet. (c) Side: Minimum five feet. (d) Rear: Minimum five feet. 13. Parking Access.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
