LENDER OWNED AUCTION 12 Room Inn & Restaurant Andover, NJ
Details
7,344± SQ. FT. INN/RESTAURANT/BAR
WITH 12 MOTEL ROOMS ON 0.556± ACRES PLUS LIQUOR LICENSE
Former Andover Inn, Restaurant & Bar
SUMMARY: The Historic Andover Inn has been a fixture in the community since the 1850s. The property had a catastrophic fire in 2006 and was completely rebuilt prior to opening in 2010. The property closed in 2014 and is turn-key for a new owner.
MANNER OF SALE: The property will be sold as separate tracts or as an entirety, whichever brings the highest dollar.
TRACT 1: Real Estate & Personal Property including Restaurant Fixtures/Stainless Steel Commercial Kitchen, Lodging Room Furnishings, Rugs, Bedding, etc. will be sold first.
TRACT 2: Liquor License.
TRACT 3: Tracts 1 & 2, together as an entirety.
TRACT 1: 7,344± SQ. FT. BUILDING
2,304 Sq. Ft First Floor with Kitchen, Restaurant (66 Person), Bar-(27 Seat Bar Area/15 Seat Bar Counter), 2 Half Restrooms
2,304 Sq. Ft. Second floor with 7 Guest Rooms with Full Baths and Common Areas
2,304 Sq. Ft. Third floor with 5 Guest Rooms, Owner Apartment, Office and Common Areas.
Public Utilities • Off Street Parking • 105' Main Street Frontage
Concrete Curb & Gutter • Zoned C-1, Commercial
Full Unfinished Basement • Furnace & Sprinkler System
10' Ceiling Height • Concrete Block Foundation
Asphalt Shingles • Hot Water Heat, Propane
2-80 Gallon Hot Water Heaters
Emergency Lighting, Smoke Alarms, Fire Escapes
Kitchen equipped with Commercial Grade SS Ranges, Ovens, Deep fryer, Walk-in Cooler/Freezer, Prep and Serving Stands.
Equipment Summary
TRACT 2: LIQUOR LICENSE
Seller is agreeable to offer a Plenary Retail Consumption License for Transfer; buyers are purchasing the right to apply for the liquor license transfer. Seller does not guarantee approval by the local liquor authorities. See Bidder Kit for Complete Details.
If you would like to review Profit & Loss Statements for the Restaurant/Bar, please complete and return this release.
Adjoining Commercial Retail Properties also Available for Sale. Currently Leased.
INSPECTIONS:
Tuesday, September 8 • 10 am - 2 pm
Monday, September 28 • 10 am - 4 pm
Tuesday, September 29 • 9 am - 11 am
Other Times by Appointment
Broker Participation is welcome but not required. A 1% commission will be paid to the licensed broker who, 1 hour prior to the start of the auction, registers the bidder who pays for and settles for the real estate. A broker buying on his/her behalf, or on behalf of any business entity in which he/she hold an interest, is not entitled to a commission.
10% Buyer Premium. Persons must show $20,000 Certified Deposit at time of registration to obtain a bidding number. $20,000 Minimum Certified Deposit due on day of Sale, with a deposit equal to 20% due within 2 business days, and balance due at closing within 30 days. The Deposit money shall become Earnest Money and is non-refundable. Attorney Daniel Haggerty, Kang Haggerty & Fetbroyt LLC is overseeing the closing.
Real Estate & Liquor License selling AS-IS, WHERE IS WITH NO WARRANTIES OR GUARANTIES EXPRESSED OR IMPLIED; Subject to Owner Confirmation; Subject to Prior Sale. See Bidder Kit for complete terms.
In all transactions, Auctioneer is acting as an Agent for the Seller. Buyers are urged to inspect items prior to purchase. Seller and Auctioneer are not responsible for items. All information received from reliable sources believed to be correct but not guaranteed by the Auction Company. Any announcement made at the auction takes precedence over any material published about this event. In the event of a dispute, Auctioneer has final decision. Valid Government Issued Photo ID required to obtain bidding number.
In conjunction with Jay E. Cronce Realty LLC
Re: LENDER OWNED AUCTION 12 Room Inn & Restaurant Andover, NJ
To Whom It May Concern: Pursuant to your request, please sign and date this release to receive documents relating to the above noted property. The Seller did not prepare these documents and has no knowledge of their accuracy or completeness. None of the documents shall constitute a representation or warranty of any kind by Seller as to the accuracy or completeness of any information delivered. Accordingly, Seller expressly disclaims any responsibility therefor, including any consequences of any reliance by anyone on them. Please note that the documents and the information contained therein are confidential, and by acknowledging receipt, you agree to keep such information confidential and that you shall not, without the prior written consent of Seller, share any of the documents with anyone other than Potential Buyer and representatives of Potential Buyer who need such information for the purpose of evaluating the premises and who are informed of the confidential nature of the information and also agree to be bound by the terms of this confidentiality provision. By this acknowledgement, you further agree that you will return to me the originals and any copies of the materials forthwith upon demand if the contemplated transaction is not consummated. Please do not hesitate to contact our office with any questions you may have.
