Corner Conventional Restaurant with
For Sale
$269,000
111 W WHITE HORSE PIKE, Berlin, NJ 08009
Existing furnishings and equipment convey with the sale, alongside updates to major building components.
Property Size1,800 SF
Price / SF$149.44
Days on Market65
Property Features for 111 W WHITE HORSE PIKE
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
Keller Williams Realty - Washington Township
(856) 693-7070
Listed By:
Pelligrino Stellato · License #2081809
(856) 693-7070
Source:
Cummingsrealtors
Added: Jun 28
Changed: Aug 31
Last Checked: Aug 31 at 1:05AM
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 Keller Williams Realty - Washington Township
Investment Insights
Based on property information with market context.
This conventional restaurant property contains approximately 1,800 square feet and dates to 1950. The sale includes the existing furniture, fixtures, and equipment, providing an established physical setup for restaurant operations. Building improvements include a newer roof, gutters, windows, doors, water heater, and electrical system.
The corner property is located at 111 W White Horse Pike in Berlin, New Jersey, along Route 30, also known as White Horse Pike. The site’s commercial setting supports consideration of restaurant, retail, service, office, medical, and other uses identified in the property information, subject to buyer confirmation of permitted uses with Berlin Borough.
Additional listed use categories include banks, funeral homes, veterinarians without outside kennels, health clubs, child-care centers meeting applicable requirements, microbreweries, nanobreweries, distilleries, and performing arts centers.
The corner property is located at 111 W White Horse Pike in Berlin, New Jersey, along Route 30, also known as White Horse Pike. The site’s commercial setting supports consideration of restaurant, retail, service, office, medical, and other uses identified in the property information, subject to buyer confirmation of permitted uses with Berlin Borough.
Additional listed use categories include banks, funeral homes, veterinarians without outside kennels, health clubs, child-care centers meeting applicable requirements, microbreweries, nanobreweries, distilleries, and performing arts centers.
Key Highlights
- Approximately 1,800 SF conventional restaurant property
- Corner location at 111 W White Horse Pike, Berlin, NJ 08009
- Furniture, fixtures, and equipment included with the sale
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
$22,721
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
8.45%
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%
$454,420
$454.4K
Cap Rate 7%
$324,586
$324.6K
Cap Rate 9%
$252,456
$252.5K
Market Conditions
NOI Build-Up for 1,800 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
$32.4K $18.00/SF
− Vacancy
−$2.1K −$1.17/SF
EGI
$30.3K $16.83/SF
− OpEx
−$7.6K −$4.21/SF
NOI
$22.7K $12.62/SF
Area
Camden County, NJ
Vacancy
6.50%
Lease Rate
$18.00 /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%
$454,420
Cap Rate 7%
$324,586
Cap Rate 9%
$252,456
Alternative Uses
Best Use
Specialty Retail
$324.6K
$284.0K – $378.7K
NOI $22,721 @ 7.0% cap · market cap 8.45%
Second Best
Industrial
$250.6K
$219.2K – $292.3K
NOI $17,539 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$456.4K
$399.4K – $532.5K
NOI $31,948 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
102k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 24%
Wawa
Shops & Services
44,444 visits/mo
0.4 miles
McDonald's
Dining
16,290 visits/mo
0.3 miles
Royal Farms
Shops & Services
12,934 visits/mo
0.3 miles
TD Bank
Shops & Services
8,485 visits/mo
0.4 miles
Dunkin' Donuts
Dining
5,268 visits/mo
0.3 miles
Demographics for 08009, NJ
13,885
Population
5,764
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
16.5 sq mi
ZIP Area
842
Density / Sq Mi
$101,964
Median Household Income
$52,767
Median Earnings
$1,392
Median Rent
$291,500
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 - Existing furnishings and equipment convey with the sale, alongside updates to major building components.
Where is this conventional restaurant located?
The property is located at 111 W WHITE HORSE PIKE Berlin, NJ.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Approximately 1,800 SF conventional restaurant property; Corner location at 111 W White Horse Pike, Berlin, NJ 08009; Furniture, fixtures, and equipment included with the sale
