168 E Main St

For Sale

168 E Main St, Newark, DE 19711

This Newark property for sale is located at 168 E Main St. The general use of 168 E Main St is retail and it incorporates 3,648 square feet of class C retail space. The current listed sale price for 168 E Main St is $150,000. 168 E Main St is situated on a lot that is 0.13 acre in size.

Contacts

broker
Joseph Latina

LMT Commercial | Corfac International

Property Details

  • Property Type Retail - Restaurant
  • Property Size 3,648 SF
  • Lot Size 0.13 Acre
  • Additional Rent Contact for pricing
  • Building Class C
  • Year Built 1982
  • Date Updated Dec 11, 2024
Newark, DESeller has just reduced the price substantially to move forward with other investments. The furniture and fixtures in the restaurant is valued over $300,000. The 3,648 +/- SF interior and exterior spaces were completely renovated in 2022 with all new furniture, fixtures and state-of-the-art kitchen equipment. The additional patio affords more seating and creates a lively atmosphere for students, professors and families alike! There are 18,665 undergrads and 7,557 graduate students currently at the University! The families of the students come into town a few times a year and stay in the local hotels, adding more foot traffic and a need for a dining experience - talk about a built-in clientele! There is a restaurant liquor license with an outdoor patio licensed to sell alcohol outdoors. This license is transferrable to a "qualified buyer". Also, there is the approval by the city for an additional side outside patio.
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Highlights

  • All brand new furniture, fixtures and state-of-the-art kitchen equipment is included in the sale price!
  • The lease was initiated in 2021 and is good until 1/31/31!
  • Monthly rent is currently $9,892 with annual increases of only 2% increments.
  • Sellers are willing to train new owner upon executed agreement of sale and two weeks after settlement.

Getting around

  • 84/100

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  • 92/100

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Location

  • City Newark, DE
  • Zip Code 19711
  • Market Philadelphia
In-Depth Research Available for this Property

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Contact Listing Broker
broker
Joseph Latina

LMT Commercial | Corfac International