283 Parker Ave Clifton, NJ 07011-1457
- Bars
- 5,932 SF
- 0.06 lot acres
Current Use by Public Records
- Palenque Bar & Grill / Bar & Grill / Karaoke Bar
Property Details for 283 Parker Ave
- Year built
- 1908
- Construction
- BRICK
- Lot size
- 0.06 lot acres
- Property size
- 5,932 SF
- Zone code
- PD-1
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 02 00004- 11-00005
- APU
- 2000041100005
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $390,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $475,000
- 6.5%
- $495,000
- 7%
- $435,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $460,000
- Geo Method
- $405,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $460,000
- Retail
- $415,000
- Mixed-Use
- $580,000
- Hospitality
- $485,000
- Educational
- $565,000
- Residential Income
- $535,000
- Energy
- $430,000
- Income-Based Land
- $555,000
- Food Service
- $465,000
Location Insight
- Map
- Local Demand
- City
- Clifton
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.1246
- Latitude
- 40.8773
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA