Former Franklin Steakhouse building in Nutley sells for $1.6M

The former Franklin Steakhouse in Nutley – and a liquor license – has sold for $1.6 million.

The Kislak Co. Inc. announced the sale of 238 Franklin Ave. on Feb. 2. The firm marketed the property, exclusively, led by Vice President Julie Gralla, who also procured the buyer.

The property is comprised of a 12,000-square-foot restaurant, bar and banquet space.

“The high level of interest for this landmark restaurant property was more than I could have predicted,” Gralla said in a prepared statement.

Each of the two-story building’s floors offer approximately 4,000 square feet, according to Kislak, with an additional 4,000-square-foot finished basement that includes a butcher prep room, coolers, an office, storage, keg rooms and more.

The first floor features a chef’s kitchen and bar with restaurant seating. The second floor offers banquet space that includes a smaller bar, prep room and bathrooms.

Capital improvements at the former Franklin Steakhouse building, including a gut renovation of the first floor, updated restaurant equipment, HVAC system units, and added a new rubber roof and heavy-duty commercial hot water tank.