Restaurant and House For
For Sale
Contact for pricing
1012 Tabor Road, Morris Plains, NJ 07950
Includes a +/-1,800 SF restaurant and a +/-800 SF house with a 2-car garage.
Property Size2,600 SF
Price / SF$394.23
Days on Market65
Property Features for 1012 Tabor Road
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
26
Property subtype
Retail, Mixed Use
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Buildings
2
Listed By:
Cynthia La Terra · License #NJ
Source:
Crexi
Added: Jul 3
Changed: Aug 26
Last Checked: Sep 2 at 11:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cynthia La Terra
Investment Insights
Based on property information with market context.
The property is an owner-user opportunity that includes both a restaurant and a separate house on the same site. Available restaurant space is approximately 1,800 SF, with an additional approximately 800 SF house that features a 2-car garage.
The property is located in close proximity to Routes 80, 287, 46, and 10, providing convenient regional access.
This configuration supports an owner who wants to combine on-site living with an operating restaurant use under one ownership structure.
The property is located in close proximity to Routes 80, 287, 46, and 10, providing convenient regional access.
This configuration supports an owner who wants to combine on-site living with an operating restaurant use under one ownership structure.
Key Highlights
- Property at 1012 Tabor Road, Morris Plains, NJ 07950 includes a restaurant and an attached house
- Approximately 1,800 SF restaurant space available
- Approximately 800 SF house with a 2‑car garage
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
$39,761
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
3.88%
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%
$795,220
$795.2K
Cap Rate 7%
$568,014
$568.0K
Cap Rate 9%
$441,789
$441.8K
Market Conditions
NOI Build-Up for 2,600 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
$56.2K $21.60/SF
− Vacancy
−$3.1K −$1.21/SF
EGI
$53.0K $20.39/SF
− OpEx
−$13.3K −$5.10/SF
NOI
$39.8K $15.29/SF
Area
Morris 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%
$795,220
Cap Rate 7%
$568,014
Cap Rate 9%
$441,789
Alternative Uses
Best Use
Specialty Retail
$568.0K
$497.0K – $662.7K
NOI $39,761 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$678.9K
$594.1K – $792.1K
NOI $47,524 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
6,131 visits/mo
0.1 miles
Exxon
Shops & Services
2,309 visits/mo
0.0 miles
Demographics for 07950, NJ
21,459
Population
8,460
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
96%
High-School Grad
9.1 sq mi
ZIP Area
2,358
Density / Sq Mi
$148,469
Median Household Income
$80,217
Median Earnings
$2,549
Median Rent
$571,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a +/-1,800 SF restaurant and a +/-800 SF house with a 2-car garage.
Where is this conventional restaurant located?
The property is located at 1012 Tabor Road Morris Plains, NJ.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Property at 1012 Tabor Road, Morris Plains, NJ 07950 includes a restaurant and an attached house; Approximately 1,800 SF restaurant space available; Approximately 800 SF house with a 2‑car garage
