238 Franklin Ave. in Nutley — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The owner of a 12,000-square-foot restaurant, bar and banquet space in downtown Nutley is seeking a buyer for the facility, in a newly announced offering by The Kislak Co. Inc.
The brokerage firm said the Franklin Steakhouse property, located at 238 Franklin Ave., includes a liquor license. Vice President Julie Gralla is handling the assignment at the two-story brick building, which has some 4,000 square feet per ﬂoor and a 4,000-square-foot ﬁnished basement with a chef’s kitchen, an ofﬁce and bathrooms.
Additionally, Gralla noted that the ﬁrst ﬂoor has a bar with restaurant seating plus banquet space with a dance floor on the second floor. Upgrades include a gut-renovated first floor with updated restaurant equipment, HVAC system units, a new rubber roof and a heavy-duty commercial hot water tank, while municipal parking is available behind the property.
Kislak has listed the facility for $1.6 million.
“This landmark restaurant space brought in $2.7 million in income per year prior to the pandemic and will be the future success of a restauranteur or developer,” Gralla said. “This is a unique opportunity for a discounted investment, which includes a highly valuable liquor license.”