283 Parker AveClifton, NJ 07011

Property Details for 283 Parker Ave

Year built

1908

Construction

BRICK

Lot size

0.06 AC

Property size (Sq ft)

5,932 SF

Zone code

PD-1

Property type

Retail properties

Property subtype

Bars

APN

02 00004- 11-00005

APU

2000041100005

Description

This exceptional opportunity presents the chance to acquire Palenque Bar & Grill, a thriving Mexican restaurant located at 283 Parker Ave, Clifton, NJ 07011. This Class A, 250 square foot establishment is offered for sale by owner at $399,000. The sale includes all appliances, furniture, and fixtures, ensuring a seamless transition for the new owner. A significant advantage is the inclusion of a valuable liquor license, a key asset for continued success. Palenque boasts a loyal customer base in the vibrant Botany Village community and benefits from a largely cash-based business model. Current employees are eager to stay on, providing continuity and experienced staff. Financial statements are being finalized and will be provided to serious buyers with proof of funds. This turnkey operation is ready for immediate ownership, allowing the new owner to step in and continue the restaurant's success from day one. This is a rare opportunity to own a profitable, well-established restaurant in a prime Clifton location. Don't miss this chance to capitalize on a bustling dining scene and established clientele.

• CAP approach

  CAP return

  Valuation

  6%

  $1,441,683

  6.5%

  $1,330,784

  7%

  $1,235,728

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,953,189

  Geo Method

  $1,953,189

• Alternative Use

  Use

  Valuation

  Residential

  $1,122,566

  Hospitality

  $1,028,265

  Educational

  $855,504

  Medical

  $884,926

  Retail

  $1,330,784

Location Insight

City

Clifton

County

Passaic

State

New Jersey

Latitude

40.8773

Longitude

-74.1246

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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