
Warrenside Tavern | 511 NJ-173
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Warrenside Tavern 511 NJ-173
10,000 SF 100% Leased Retail Building Stewartsville, NJ 08886 $995,000 ($99.50/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
$995,000
Price Per SF
$99.50
Cap Rate
9.25%
NOI
$92,000
Percent Leased
100%
Building Height
2 Stories
Building FAR
0.35
Lot Size
0.66 AC
Zoning
R-1
PROPERTY TAXES
Parcel Number | 07-00031-0000-00005 | Improvements Assessment | $508,200 |
Land Assessment | $81,600 | Total Assessment | $589,800 |
PROPERTY TAXES
Parcel Number
07-00031-0000-00005
Land Assessment
$81,600
Improvements Assessment
$508,200
Total Assessment
$589,800
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Warrenside Tavern | 511 NJ-173
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