SUBJECT: LOCATION: Ivy Tavern Property, 3108 South Broad Street, Hamilton Township, Mercer County, New Jersey 08610; located on a.466+/- acre site and includes a 4,720+/- SF building with a tavern, liquor store, and 2 apartments available for sale. The property is located on the northwest side of South Broad Street. The closet cross street is Maple Shade Avenue. It offers easy access to Routes/Interstates 206,195 and 295. SITE: The site is irregular in shape with 100+ feet of frontage and 203+ feet of depth. It totals.466+ acres. PARKING: UTILITIES: 25+ spaces Electric, Gas, Water, Sewer, and Cable Internet access is available from the following providers: Cablevision & Verizon FIOS ZONING: Highway Commercial (HC): The district allows for the following uses among others: Restaurants Bars, Tavern & Night Clubs Banks Bakeries The complete zoning ordinance is available upon request. TAXES: The tax rate in the Township of Hamilton is $2.704 per $100.00 of assessed valuation yielding a 2017 tax bill of $14,590.78+ on Block 2488, Lot 2.
IMPROVEMENTS: The property is improved with a tavern, liquor store, and 2 rental apartments. The building was constructed in 1920+. It has masonry and vinyl siding exterior, a concrete foundation and a flat and gable roof surfaced with rubberized membrane and composite shingle. PRICE: $1,000,000.00 The front portion on the building consists of a 2,300+ SF tavern & liquor store with seating for approximately 65+ customers. There is a kitchen area that has a pizza oven for customers to either eat-in or take out. The pizza, as well as all food, is made fresh on-site. There is table seating for approximately 30+ and bar seating for an additional 35+ patrons. The flooring is primarily linoleum. The walls are gypsum board. Heating and cooling are both gas forced air. The rear portion of the building consists of two apartments; The first floor apartment has 2 bedrooms, a living room, kitchen and a basement. It has been rented to the same tenant for 10+ years. Monthly income from the apartment is $1,000.00. The tenant pays their own utilities; the landlord pays sewer and water. The second floor of the building consists of one apartment with 2 bedrooms, a living room and a kitchen. There is also an attic which has been converted to a living room. The flooring is primarily linoleum and commercial grade carpeting. The walls are gypsum board. Rental income from this apartment is $1,200.00 per month. The tenant pays their own utilities; the landlord pays sewer and water. Heating for both apartments is gas radiator heat. Cooling is provided through individual window units. Electrical service to the building is single phase 200+ amp. There is also a 400+/- SF detached garage which is used for storage.
REMARKS: A Hamilton institution that has been family owned and operated for 60+ years. A Plenary Retail Consumption License, #1103-33-049-006, is included in the sale price as are all liquor inventories, furniture, fixtures and equipment. The Plenary Retail Consumption License allows the owner to sell alcoholic beverages for consumption on the licensed premises by the glass or other open receptacle and also to sell any alcoholic beverages in original containers for consumption off the licensed premises. Restaurant is permitted but not a package store with displays. This is a popular spot for local bands, sports viewing and karaoke nights. The kitchen provides additional income. This is a great opportunity for anyone considering the purchase of an established bar and tavern. The apartments also provide additional rental income. Properties such as this are not made available to the public that often. Act fast and call to schedule an appointment today! This listing is made subject to errors, omissions, change of price/terms, prior sale or lease and withdrawal without notice. All references to age, square footage, lot size, income and expenses are approximate. Buyers should conduct their own independent investigations and rely only on those results. R:\Active listings\ivy Tavern\Profile\Russo_&_Russo_Ivy_Tavern_Property_Profile_Letterhead.docx (Page 3 of 6)
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