168 Main St Newark, DE 19711-7309
- Turn key restaurants
- 3,648 SF
- 0.14 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 168 Main St
- Year built
- 1982
- Construction
- CONCRETE
- Lot size
- 0.14 lot acres
- Property size
- 3,648 SF
- Zone code
- 18BB
- Property type
- Turn key restaurants
- APN
- 18-020.00-161
- APU
- 1802000161
Description
This 3,648 square foot retail space, located at 168 E Main St in Newark, Delaware (zip code 19711), presents a unique investment opportunity. Completely renovated in 2022, the property boasts all new furniture, fixtures, and state-of-the-art kitchen equipment, included in the asking price of $150,000. Currently operating as a restaurant, the property features an attractive outdoor patio, expanding seating capacity and creating a vibrant atmosphere. The existing lease, initiated in 2021 and extending until January 31, 2031, generates a monthly rent of $9,892, with annual increases capped at 2%. A transferable restaurant liquor license, including outdoor patio alcohol sales, is included. City approval for an additional outdoor patio is also in place. The property benefits from a high concentration of students (18,665 undergraduates and 7,557 graduate students) at the nearby university, providing a built-in clientele. The seller is offering training to the new owner following the sale and settlement. This is a turnkey operation with significant upside potential. The property is classified as Class C and was built in 1982.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- New Castle
- State
- Delaware
- Longitude
- -75.7463
- Latitude
- 39.6838
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
