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Patric Santo Pietro

[email protected] +1(732) 570-5442

$ 2,045,000

Est. payment -/mo

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Price Dropped by $50K

2 E Passaic Ave Nutley Twp., NJ 07110

7,000 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 7,000 sqft

Price per Sqft $292

MLS Listing ID 4012963

Year Built 1908

Annual Tax Amount $31,805

Tax Year 2025

Property Sub-Type Mixed Use

Property Description

SALE INCLUDES BOTH THE REAL ESTATE AND THE BUSINESS WITH LIQUOR LICENSE. Opportunity knocks with this mixed-use building offering an iconic, thriving Restaurant/Bar business with a rich history and 4 residential apartments. Established nearly a century ago, The Old Canal Inn is poised to continue propelling forward. Total patron capacity of 186 including the 75 in the dining room. An extensive craft beer list flows through the 30 taps, with a strong customer base which enjoys the outdoor patio, live entertainment, catering, private parties and the in-house regulation shuffleboard table as well as the 22 large screen TVs. The kitchen and restaurant received a total renovation in 2015. AC systems (2022), Boiler (2020). The property features a thriving hospitality business on the ground floor and four income-producing residential apartments above, creating multiple revenue streams and long-term investment potential. The residential apartments are well-maintained. Turn-key, profitable operation with strong potential for added growth.Ownership will consider selling the business independently, subject to executing a mutually acceptable long-term lease for the restaurant/bar premises. The real estate will not be sold separately prior to the sale of the business. Buyers interested solely in the real estate will not be considered unless they acquire the restaurant/bar business simultaneously.

Location

State NJ

County Essex

Zoning B2

Rooms

Basement Bilco-Style Door, Full, Storage

Interior

Heating Gas-Natural, Oil Tank Above Ground - Inside

Cooling 2 Units, Central Air

Flooring Carpeting, Tile, Vinyl-Linoleum, Wood

Equipment Appliances, Burglar Alarm, Exhaust System, Fire Alarm, Fixtures, Kitchen Area, Security System, Sign - Building

Heat Source Gas-Natural, Oil Tank Above Ground - Inside

Exterior

Exterior Feature Aluminum, ConcBrd, Vinyl

Utilities Available Electric, Gas-Natural

Roof Type Flat

Building

Lot Description Corner, Level Lot

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Listed by KELLER WILLIAMS SUBURBAN REALTY

NEARBY SCHOOL & BUSINESS

Patric Santo Pietro

Agent License ID: 1007170

+1(732) 570-5442

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Patric Santo Pietro

2 E Passaic Ave Nutley Twp., NJ 07110

Key Details

Location

Rooms

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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2 E Passaic Ave