237 AVE Haledon NJ 07508

Investment or Owner User. This income producing property consists of two

rented apartments upstairs and a vacant turnkey bar with liquor license on the

ground floor. The property has parking for both tenants and patrons. The

asking price includes the class C liquor license. MTM residential tenants

provide immediate cash flow and present a value add opportunity to increase

rents with modest improvements and longer lease terms. For investors, the pro

forma rent on the ground floor is $22- 25psf psf NNN. This site is located 1

mile from William Paterson University which has over 9,000 registered

students. The ground floor bar is turnkey with all beer/ soda lines in place,

refrigeration, kitchen, and bar in addition to a basement office and storage

area. Terracotta roof and brick interior are consistent with a tapas style

restaurant/ bar. 7% cap rate in year 2 based on pro forma rents.