7 Boardwalk - Restaurant FOR SALE


Sparta, NJ 07871
$2,500,000 USD
646-408-8024
7 Boardwalk, Sparta, NJ for Sale
$2,500,000 USD
Restaurant - FOR SALE
1/35
null | 7% Cap Rate

NEW


7 Boardwalk
Sparta, NJ 07871


HIGHLIGHTS

  • Boardwalk Frontage
  • The Only Restaurant open to the Public in Lake Mohawk
  • Public Water and Sewer
  • Residential Rents are Under Market
  • Excellent Local Demographics

OVERVIEW

The Only Restaurant in Lake Mohawk on the Boardwalk Open to the Public! One of the most picturesque views in the county, this 7 Unit offering includes Il Porto Restaurant (all the equipment and business) plus 4 Residential Apartments and 2 additional Commercial Spaces - all apartments and commercial spaces are rented. The Restaurant itself will be delivered vacant. Move your business to this highly desirable location or lease out the restaurant to a new tenant making this property ideal for an Owner User or Investor. The property boasts 82' of Boardwalk frontage and has a natural flow of constant patrons. Outdoor dining in the Spring and Summer months increases the 3000 SF footprint of the restaurant and a story book setting for almost any type of event. The Apartments are a mix of Two 2 BR and Two 1 BR. All tenants enjoy this fantastic location with several units also having lake front balconies. Tenants pay for heat and electric. Landlord pays for water/sewer. For a Restaurateur (Owner/User) the Apartments and Commercial Spaces provide excellent ancillary income (currently $7000 per month gross rents). For an Investor the Pro Forma Cap Rate would be 7% at asking. Lake Mohawk is considered one of the jewels of Sussex County and is on the National Register of Historic Places. Sparta is consistently voted one of the top school systems and safest towns in NJ. Please contact Marc for income and expenses and additional information.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$230 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Lakefront 7 Unit Mixed Use in Lake Mohawk

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1927

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

TCC

APN/PARCEL ID

18-05049-0000-00026

ASK ABOUT THIS PROPERTY

Marc WeitzFairclough RealtorsMore Info
646-408-8024

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Marc WeitzFairclough RealtorsMore Info
646-408-8024

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.