168 Main StNewark, DE 19711

This 3,648 square foot retail space, located at 168 E Main St in Newark, Delaware (zip code 19711), presents a unique investment opportunity. Completely renovated in 2022, the property boasts all new furniture, fixtures, and state-of-the-art kitchen equipment, included in the asking price of $150,000. Currently operating as a restaurant, the property features an attractive outdoor patio, expanding seating capacity and creating a vibrant atmosphere. The existing lease, initiated in 2021 and extending until January 31, 2031, generates a monthly rent of $9,892, with annual increases capped at 2%. A transferable restaurant liquor license, including outdoor patio alcohol sales, is included. City approval for an additional outdoor patio is also in place. The property benefits from a high concentration of students (18,665 undergraduates and 7,557 graduate students) at the nearby university, providing a built-in clientele. The seller is offering training to the new owner following the sale and settlement. This is a turnkey operation with significant upside potential. The property is classified as Class C and was built in 1982.