143 Main St
Madison, NJ 07940
143 Main St · Property For Lease

Ladies and Gentlemen, THIS IS IT! A once in a lifetime opportunity. Do you want to open a restaurant without having to spend hundreds of thousands of $$$ on a fit out and equipment?? (Like I had to do several times). This location is freshly renovated, on a busy state road, across the street from a 5th-8th grade school in a town that got named #1 in NJ in 2019. 143 Main St in Madison NJ is a local fixture and has been a landmark restaurant since the 1940's. It's the last of the old rail car style diners in NJ, and the previous tenant was Slamwich Scratch Kitchen. This restaurant is NOT currently open and operating, but can be with minimal spend. I'm offering you an opportunity to lease this almost turn-key operation from me with all the furniture, fixtures and equipment included. (The mixer shown in the dining room is excluded). You get tables, chairs, a service counter, coffee station, 18ft cook line with dual exhaust fans, fire suppression system, deep fryer, chefs base, Bakers Pride 6 burner range with oven, Vulcan dual-stack convection oven, 4ft bain marie, prep tables, fresh FRP and quarry tile in the kitchen, fresh lighting in the dining room, and a 6ft x 10ft walk in cooler outside LOADED with trays, cambros, shelving, slicers, robot coupe food processor and various other smallwares. The dining room seats about 20. There is also a customer bathroom. No key money required. Just sign a lease at market rent, with two months security deposit. Step in here, add a grill maybe and whatever else the Borough Health Dept may require for your menu, throw up a new sign and off you go! Deals like this don't come around very often. I've owned 5 restaurants in 14 years and each time, I went broke doing invasive fit outs with electrical, plumbing and fire/kitchen exhaust infrastructure upgrades. I bought truckloads of equipment and it took half the life from me each time trying to recoup my investment. You won't have to go through what I went through here, because I've done all the heavy lifting for you. I've spent the money, I'm taking the risk and in turn, I'm trying to find a good tenant. If you're wondering who I am, I'm a seasoned quick serve restaurant owner/operator. I own the restaurant next door to this, and have been doing business in the area for 5+ years. I've owned restaurants in Morristown, Denville and Rutherford as well over the past 14 years. I began as a Subway Franchisee, and after owning multiple units, I exited the system to start my own sandwich concept, then I created a hot dog concept, and now I'm getting into the real estate side of things. So that's my angle. I'm looking for a good tenant and I am fully invested in their success for the long term. I'm asking only market rent and I have attached an excerpt from the appraisal on my like-kind property next door from December 2020 that shows the prevailing rate. $34 per sq foot base rent plus triple net charges. This comes out to $3116.66 base plus $800 mo for taxes, insurance and fire alarm monitoring. I'm asking 4% yearly increases on base rent with a 3-4 year lease term. So there you have it. This is the deal I always wanted but could never find. Don't let it slip through your fingers. The right operator and concept in this location can do fantastic. Contact me and schedule a walkthrough ASAP!!!