2 E Passaic AVE, Nutley, NJ 07110
2 E Passaic AVE, Nutley, NJ 07110
2 E Passaic AVE, Nutley, NJ 07110
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Listed by Frank G. Conturso Keller Williams Suburban Realty
$2,045,000
Est. payment /mo
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2 E Passaic AVE Nutley, NJ 07110

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Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID 26007010

Style Retail

Property Sub-Type Retail

Property Description

SALE INCLUDES BOTH THE REAL ESTATE AND THE BUSINESS WITH LIQUOR LICENSE. Opportunity knocks with this mixed-use building offering an iconic, thriving Restaurant/Bar business with a rich history and 4 residential apartments. Established nearly a century ago, The Old Canal Inn is poised to continue propelling forward. Total patron capacity of 186 including the 75 in the dining room. An extensive craft beer list flows through the 30 taps, with a strong customer base which enjoys the outdoor patio, live entertainment, catering, private parties and the in-house regulation shuffleboard table as well as the 22 large screen TVs. The kitchen and restaurant received a total renovation in 2015. AC systems (2022), Boiler (2020). The property features a thriving hospitality business on the ground floor and four income-producing residential apartments above, creating multiple revenue streams and long-term investment potential. The residential apartments are well-maintained. Turn-key, profitable operation with strong potential for added growth. Ownership will consider selling the business independently, subject to executing a mutually acceptable long-term lease for the restaurant/bar premises. The real estate will not be sold separately prior to the sale of the business. Buyers interested solely in the real estate will not be considered unless they acquire the restaurant/bar business simultaneously.

Location

State NJ

County Essex

Interior

Heating Baseboard, Central Air, Hot Water, Other Fuel Source/See Rmk, Radiators, Steam

New Jersey MLS (NJMLS)

NEARBY SCHOOLS & PROPERTIES

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Morris Agent Team LLC
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2 E Passaic AVE