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Warrenside Tavern 511 NJ-173

10,000 SF 100% Leased Retail Building Stewartsville, NJ 08886 $1,435,984 CAD ($143.60 CAD/SF) 9.25% Cap Rate

EXECUTIVE SUMMARY

Route 78 W to exit 7 Route 173 W to the Warrenside Tavern, on the right - just west of Bloomsbury. Founded in 1925, as "Tea Room" from which barbeque and hot dog stands existed - the provenance now extends to multigenerational ownership with over 90% recurring business. Three generations of dinners, a banquet room, and the hidden gem ratskeller in our basement seats over 45, which can be be used as a lounge or brew bar to generate additional income. The current business operates Thursday - Sunday, serving roughly 300 meals a day generating a daily income of $8,000 but there is a chance to earn more with the use of the ratskeller. The capacity is approx. 200 people for the entire structure. Class C building. New $300K septic system and major renovations on the upper and lower level. 33 liquor license allows sale of package goods while serving adult beverages throughout the establishment. Lastly, there is a parking lot easement in place to allow gravel and paved parking onsite. Group tours will be available Monday or Tuesday of each week. Call Jack to schedule a viewing!

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
10,000 SF
Building Class
C
Year Built/Renovated
1924/2000
Price
$1,435,984 CAD
Price Per SF
$143.60 CAD
Cap Rate
9.25%
NOI
$132,774 CAD
Percent Leased
100%
Building Height
2 Stories
Building FAR
0.35
Lot Size
0.66 AC
Zoning
R-1

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
07-00031-0000-00005
Land Assessment
$115,758 CAD
Improvements Assessment
$720,933 CAD
Total Assessment
$836,690 CAD
  • Listing ID: 31727059

  • Date on Market: 2024-05-07

  • Last Updated:

  • Address: 511 NJ-173, Stewartsville, NJ 08886

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