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Property profile & analytics
OFF-MARKET Estimated value $390,000
Bars & Pubs

283 Parker Ave Clifton, NJ 07011-1457

5,932 SF 0.06 ac lot Built 1908
Individually Owned 37-yr Hold Free & Clear
Property ID
US59-1279389
Property summary
AI-generated overview

This exceptional opportunity presents the chance to acquire Palenque Bar & Grill, a thriving Mexican restaurant located at 283 Parker Ave, Clifton, NJ 07011. This Class A, 250 square foot establishment is offered for sale by owner at $399,000. The sale includes all appliances, furniture, and fixtures, ensuring a seamless transition for the new owner. A significant advantage is the inclusion of a valuable liquor license, a key asset for continued success. Palenque boasts a loyal customer base in the vibrant Botany Village community and benefits from a largely cash-based business model. Current employees are eager to stay on, providing continuity and experienced staff. Financial statements are being finalized and will be provided to serious buyers with proof of funds. This turnkey operation is ready for immediate ownership, allowing the new owner to step in and continue the restaurant's success from day one. This is a rare opportunity to own a profitable, well-established restaurant in a prime Clifton location. Don't miss this chance to capitalize on a bustling dining scene and established clientele.

Property profile
Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1908
Construction BRICK
Total area 5,932 SF
Lot 0.06 ac (2,400 SF)
Zoning code PD-1
APN 02 00004- 11-00005
UPID US59-1279389
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Palenque Bar & Grill Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$390k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$390k
Owner & transaction history
Penica Kemal Xe · 37 yrs held
Penica Kemal Xe
since 1989
2 recorded transactions
1989
$260,000
1969
Price N/A
Zoning & alternative use
PD-1 · Clifton, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

-30 B-A Zones. § 461-31 B-A1 Zones. § 461-32 B-B Zones. § 461-33 B-C Zones. § 461-34 B-D Zones. § 461-35 M-1 Zones. § 461-36 M-2 Zones. § 461-37 M-3 Zones. § 461-37.1 PCD Zones. § 461-37.2 PSRC Zone District. § 461-37.3 PD-1(A) District. Article VII Site Plan Approval § 461-38 Approval required for issuance of building permit. § 461-38.1 Minor site plan appr…

Zone name Planned Development Number 1
General category PLANNED_DEVELOPMENT
Zone area 18.93 ac
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