150 S Main St Phillipsburg Town, 08865

1 / 15

View all 15 Photos

Map

At edge of NJ find the gateway to the Lehigh Valley, here on the Main street of this charming river town. Situated in the heart of historic downtown Phillipsburg, near the popular train rides with parking out back. Classic charming fully-equipped restaurant, with 2 income-producing apartments above. Great location, location, location for yum Poblano eatery, with 4 years to go on the lease. This mixed use property offers excellent potential; two renovated apartments above need a few code items to be completed, in order to rent but they are not too far off. Restaurant kitchen boasts a 15' hood with Ansul wet-system for fire suppression. 6-burner gas stove, walk-in freezer Current restaurant rent goes up to $2060/mon. in oct, and up thru 2028 and the food is scrumptious! Near many more cute shops and eateries. Property has an Interconnected fire alarm. With the two apartments rented (projected rents, once you spend a little on getting them code-free for c/o's) net income lands at around $34, 000/year. Nice property with an upside and excellent spot to invest, in historic downtown PBurg!