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    OFF-MARKET
    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
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Penica Kemal Xe · 37 yrs held
    Penica Kemal Xe
    since 1989
    2 recorded transactions
    1989
    $260,000
    1969
    Zoning & alternative use
    PD-1 · Clifton, NJ
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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