For Sale
$750,000

541 Union AvePaterson, NJ 07522

Renovated Bar & Apartment Building

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use property, located at 541 Union Ave in Paterson, NJ, presents a lucrative investment opportunity. The building, completely renovated in 2023, boasts 1,927 square feet across two stories and sits on a 1,927 square foot lot. The ground floor houses a thriving bar and karaoke establishment, "El Cubetazo," complete with a liquor license, brand new commercial kitchen equipment (including refrigeration units, sinks, ice machines, and bar equipment), and modern finishes. The equipment includes two glass door back bar coolers, a bottle cooler, an ice machine, a three-compartment sink, an additional sink, two ice bins with seven circuit boards, a glass rack, a glasswasher, a two-soda gun system, and an additional standing freezer in the apartment. The bar features granite countertops, new furniture (bar stools, tables, chairs, and leather couches), crown molding, LED and recessed lighting, two JBL speakers, a ten-inch in-ceiling speaker, a SONOS system, thirteen Samsung Smart TVs, fully wired Ethernet cabling for each TV, HDMI wiring, an HDMI switch, an HDMI splitter, an Epson projector with a 120-inch electric screen, and a digital LED display for the front window. Upstairs, a two-bedroom apartment offers a full bath, central air conditioning, and an unfinished basement with a half bath. The building is zoned COMMERCIAL and currently enjoys 100% occupancy, with the lease expiring October 30, 2024. Hardwood floors are featured throughout. This turnkey operation offers immediate income potential and significant upside. The asking price is $750,000.

Highlights

  • $750,000 asking price for a 1,927 sq ft mixed-use building in Paterson, NJ.
  • Totally renovated in 2023, this two-story building offers a ground floor bar and karaoke business with a liquor license.
  • The second floor features a two-bedroom apartment with a full bath, central air, and a half bath in the unfinished basement.
  • Includes new commercial kitchen equipment and bar fixtures.
  • Modern finishes such as granite countertops and hardwood floors, plus new furniture are featured throughout.
  • High-end audio/visual system with multiple TVs, speakers, and a projector is included.

Property Details for 541 Union Ave

Property type
Mixed-use properties
Square Feet
1,927 SF
Year Built/Renovated
1950/2023
Stories
2
Units
2

Location Insight

City
Paterson
County
Passaic
State
New Jersey
Latitude
40.92397809
Longitude
-74.18094259
541 Union Ave, Paterson, New Jersey

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541 Union Ave
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