Mangos Grill, a downtown restaurant and bar on Fulton Street, is up for sale.
Woodbridge-based Kislak Realty is handling the real estate listing, describing it as “large kitchen with opulent dining room, bar and entertaining area,” as well as on-premises parking. The liquor license is available for purchase, according to the listing. No word on asking price.
The property at 1349 Fulton St. is owned by G&T, Inc., which bought it in January 2004 for $555,000. The 0.7-acre site houses a two-story building and is assessed at $518,300, yielding a property tax bill of more than $32,000 last year, according to property records.
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$32K in property taxes on a $514K value? How can anyone afford to live in Rahway?
Keep in mind, that's assessed value, which in Rahway is generally about 40 percent of market value based on equalization tables, at least on residential property.Market value, based on that assumption, would likely be well over $1m.
Thanks for the info. Any word on Bachmann's?
Interesting that everything in that strip is up for grabs. I was told they're knocking down the strip and replacing with condos according to a few folks from the zoning meeting.
Mark, where can I drink now.