Woodbridge-based The Kislak Co. said June 24 it was recently named the exclusive sales agent for the former Franklin Steakhouse, a 12,000-square-foot restaurant, bar and banquet space located in the heart of downtown Nutley at 238 Franklin Ave.
The property, which includes a liquor license, is a two-story brick building with approximately 4,000 square feet per ﬂoor and an additional 4,000-square-foot ﬁnished basement with a chef’s kitchen, an ofﬁce and bathrooms.
The ﬁrst ﬂoor has a bar with restaurant seating plus banquet space with a dance floor located on the second floor. Capital improvements include a gut-renovated first floor with updated restaurant equipment, HVAC system units, new rubber roof, and a heavy-duty commercial hot water tank. Municipal parking is available behind the property.
Vice President Julie Gralla is handling the assignment on behalf of the property owner.
“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,” commented Gralla. “This is a unique opportunity for a discounted investment, which includes a highly valuable liquor license.”
The asking price is $1,600,000.