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.
Gralla – KISLAK CO.
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.
