7000 JFK Blvd East M-24, Guttenberg, NJ

Retail for Sale - $3,700,000

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Agent Info

NameNick Ullman
CompanyCENTURY 21 Metropolitan

Property Info

CIMLS #1043895
Location7000 JFK Blvd East M-24
Guttenberg NJ 07093
Last UpdatedApril 11th, 2019
DemographicsView sample


Property Description

Property for sale that has Korean BBQ tenant secured for a ten year lease, along with a ten year renewal option. Tenant is brand new, as of February, and has completely redone the restaurant. The restaurant includes the following: -Valet parking for guests -250 seating capacity -Liquor license ($200,000 value) -Wine bar -3,000sqft wet and dry storage (4 freezers) -2 kitchens Direct loading dock -Direct elevator

Property is asking $3.7M, of which $200,000 is for liquor license. Over course of lease tenant will purchase liquor license. The 4% cap rate is excluding cost of liquor license. Currently restaurant is paying $20,000/mo. Landlord is responsible for taxes & maintenance to condo board of $1.20/SF per month. The maintenance and taxes are chargeable on only 6,890 sqft, the additional 3,000 sqft are non-chargeable. Please see attached brochure for further financial information. Contact today for more information or private showing.

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