Corner Breakfast &
For Sale
$299,000
339 South Avenue W, Westfield, NJ 07090
Business Opportunity, Westfield, NJ
Property Size1,000 SF
Price / SF$299
Days on Market80
Property Features for 339 South Avenue W
General Information
Property type
Residential
Property subtype
Retail
Lot features
Near Train
Standard status
Active
APN
2003004000000001
Size
1,000 SF
Utilities
Water source
Public
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
(732) 549-1998
Listed By:
Kiran Mali
(463) 250-3928
Added: Jun 18
Changed: Aug 19
Last Checked: Sep 5 at 6:06PM
MLS# 2617830R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Operating breakfast and lunch restaurant positioned in a corner building at a busy intersection opposite the Westfield Train Station. The premises provide about 1,000 sq ft for customer seating, counter service, and kitchen operations, along with an approximately 750 sq ft basement used for storage and a vegetable cooler. Dining capacity includes about 40 indoor seats and about 10 outdoor seats.
The restaurant has a glass-fronted façade, on-site parking, and access to public transportation. Kitchen equipment is meticulously maintained, with staff already in place. Takeout service and an established repeat-customer base are part of the current operation, while dinner service has recently been paused. The seller can provide training during the transition period.
The restaurant has a glass-fronted façade, on-site parking, and access to public transportation. Kitchen equipment is meticulously maintained, with staff already in place. Takeout service and an established repeat-customer base are part of the current operation, while dinner service has recently been paused. The seller can provide training during the transition period.
Key Highlights
- About 1,000 sq ft for seating, counter service, and kitchen operations
- About 750 sq ft basement with storage and vegetable cooler
- About 40 inside seats plus about 10 outside
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,860
$305.9K
Cap Rate 7%
$218,471
$218.5K
Cap Rate 9%
$169,922
$169.9K
Market Conditions
NOI Build-Up for 1,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.6K $21.60/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$20.4K $20.39/SF
− OpEx
−$5.1K −$5.10/SF
NOI
$15.3K $15.29/SF
Area
Union County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,860
Cap Rate 7%
$218,471
Cap Rate 9%
$169,922
Alternative Uses
Best Use
Specialty Retail
$218.5K
$191.2K – $254.9K
NOI $15,293 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07090, NJ
31,056
Population
11,093
Households
2.8
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
4,635
Density / Sq Mi
$212,700
Median Household Income
$106,123
Median Earnings
$2,211
Median Rent
$930,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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- Fanwood Bagels & Deli — 32 S Martine Ave, Fanwood, NJ 07023
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Operating food-service space includes kitchen, counter, seating, basement storage, and outdoor dining.
Where is this breakfast & diner located?
The property is located at 339 South Avenue W Westfield, NJ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: About 1,000 sq ft for seating, counter service, and kitchen operations; About 750 sq ft basement with storage and vegetable cooler; About 40 inside seats plus about 10 outside
