Bank Ordered Auction
In Re: Yum & Chill South Plainfield CBC, LLC d/b/a Corner Bakery Cafe
Turn-Key Restaurant – “Corner Bakery Cafe”
Long-Term Lease – Surrounded by Major Shopping Centers
- 6400 Hadley Road, South Plainfield, New Jersey 07080
- Located Contiguous to LA Fitness, Staples, Chipolte, Party City, Verizon, Red Lobster, Red Robin, Ruby Tuesday & Holiday Inn Express
- Within .25 Mile from Walmart, Lowe’s, TGI Friday’s, Dunkin’ Donuts & More
- Selling the Fully Equipped/Turn-Key Restaurant with All Furniture, Fixtures & Equipment
- Option to Additionally Acquire the Franchise “Corner Bakery Cafe”
- Fast-Casual Concept Serving Breakfast, Lunch & Dinner
- 18 Years Remaining on Lease (Expires July 10, 2034) – Including Two Option Periods
- Former Owner Invested Appx. $800,000 on Build-out, $400,000 on FF&E & $200,000 on Franchise
- 4,720 Sq Ft + 486 Sq Ft of Outdoor Seating Area
- Current Monthly Base Rent: $11,800
- Current Monthly CAM: $1,423.07
- Current Monthly Taxes: $2,237.09
- Current Monthly Water: $160.00
- Total Current Monthly Rent Related Overhead: $15,620.16
Viewings: Monday, July 25th from 10:00 am – 11:00 am.
Sealed Bid Deadline: Thursday, July 28th at 4:00 pm.
Sealed Bid Delivery Location: Maltz Auctions, 39 Windsor Place, Central Islip, NY 11722.
Terms & Conditions of Sale: Assets will be sold free and clear of all monetary liens. In order to be deemed a qualified bidder, a cashier’s check (made payable to “Maltz Auctions, Inc.”) in the amount of 25% of your offer amount must be included in your bid package. Please download the complete “Bid Package Submission Form” & “Terms & Conditions of Sale”.
Buyer’s Premium: A fifteen (15%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.
Buyer Broker Participation: A three (3%) percent commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.
The Blau & Berg Company, Licensed New Jersey Real Estate Brokers
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Phone (516) 349-7022 Fax (516) 349-0105
The Assets are being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Assets and will rely solely on their own independent investigations and inspections of the Assets in making their bids. Neither Maltz, the Bank, the Attorney for the Bank nor any of their collective representatives makes any representations or warrantees with respect to the use or condition of the Assets. All Bidders acknowledge that they have conducted their own due diligence in connection with the Assets and are not relying on any information provided by Maltz, the Bank, the Attorney for the Bank, or their professionals. All prospective bidders are urged to conduct their own due diligence prior to submitting an offer. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.