1090 Us-22Lebanon, NJ 08833

For Sale
$1,523,000

Established Bar/Restaurant with Rental Income

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity in Clinton Township, NJ, presents a thriving bar and restaurant with a liquor license, complemented by six fully occupied rental units. Situated on a substantial 3.92-acre lot (170,755.2 sq ft) at 1090 US-22, this property boasts high visibility from Route 22, ensuring maximum exposure. The main building, constructed in 1940 and extensively renovated in 2021, features approximately 2,000-6,000 square feet and includes three buildings across two stories. The property offers ample parking for approximately 100 vehicles. The current business generates a strong pro-forma NOI of $99,000, representing a 6.50% pro-forma cap rate on the $1,523,000 asking price. The C-ROM zoning allows for diverse development options, expanding the potential beyond the existing bar/restaurant and rental units. Recent upgrades include a new central AC unit (2020), furnace, and hot water heater (2021). This prime location, between Routes 78 and 22, provides easy access to major transportation arteries, enhancing its appeal to both tenants and customers. The property's APN is 1006_4.03_33. This is a 1031 exchange eligible sale. The property is currently 100% occupied.

Highlights

  • Thriving bar and restaurant with liquor license.
  • Six fully occupied rental units.
  • 3.92-acre lot (170,755.2 sq ft) with high visibility from Route 22.
  • Ample parking for approximately 100 vehicles.
  • C-ROM zoning allows for diverse development options.
  • Recent upgrades including new central AC (2020), furnace, and hot water heater (2021).

Property Details for 1090 Us-22

Property type
Other retail properties, Restaurants
Square Feet
2,000 SF
Class
C
Year Built/Renovated
1940/2021
Buildings
3
Stories
2
Units
6

Location Insight

City
Lebanon
County
Hunterdon
State
New Jersey
Latitude
40.6445588
Longitude
-74.8110727
1090 Us-22, Lebanon, New Jersey

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1090 Us-22
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