230 Trumbull StElizabeth, NJ 07206

Property Details for 230 Trumbull St

Year built

1927

Lot size

0.09 AC

Property size (Sq ft)

3,356 SF

Property type

Retail properties

Property subtype

Bars

APN

04 00822-0000-00001

APU

400822000000001

Description

This vibrant, beautifully renovated (October 2021) seafood restaurant in Elizabeth, NJ, presents a compelling investment opportunity. Located at 230 Trumbull St, on the corner of Monsignor Kemezis Pl, this single-tenant property boasts 1,750 square feet of interior space, complemented by a spacious outdoor patio offering an additional 48 seats. The interior comfortably seats 32 patrons. A fully equipped, modern kitchen is included, along with brand-new furniture, fixtures, and equipment. The property also includes a full basement and sits on a 0.09-acre lot. The sale encompasses a Class C liquor license, permitting both on-premises consumption and package goods sales. This established business, inspired by Portuguese coastal cuisine, offers significant potential for growth, whether continuing the current successful concept or implementing a new one. The total building size is 3,356 square feet, situated in Union County, New Jersey, zip code 07206. This turnkey operation is ready for its next owner to capitalize on its prime location and established clientele.

• CAP approach

  CAP return

  Valuation

  6%

  $815,625

  6.5%

  $752,885

  7%

  $699,107

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,105,007

  Geo Method

  $1,105,007

• Alternative Use

  Use

  Valuation

  Residential

  $635,086

  Hospitality

  $581,736

  Educational

  $483,997

  Medical

  $500,643

  Retail

  $752,885

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Latitude

40.656

Longitude

-74.1808

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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