Conventional Restaurant
New
For Sale
$275,000
1116 S Main St, West Creek, NJ 08092
Restaurant property established in 1957 at a West Creek address.
Property Size672 SF
Days on Market6
Property Features for 1116 S Main St
General Information
Standard status
Active
Size
672 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,893
Building Details
Building Size
672 SF
Year Built
1957
Stories
2
Listing Agency:
C21/ Action Plus Realty
Listed By:
Joan L Velardi · License #0337813
(800) 299-2129
Source:
Elliman
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 20 at 10:04AM
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 C21/ Action Plus Realty
Investment Insights
Based on property information with market context.
This conventional restaurant property was built in 1957 and is located at 1116 S Main St in West Creek, NJ 08092.
The surrounding area records a Walk Score of 25, categorized as Car-Dependent, and a Bike Score of 39, categorized as Somewhat Bikeable.
The surrounding area records a Walk Score of 25, categorized as Car-Dependent, and a Bike Score of 39, categorized as Somewhat Bikeable.
Key Highlights
- Conventional restaurant property
- Built in 1957
- 1116 S Main St, West Creek, NJ 08092
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
$10,277
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
3.74%
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%
$205,540
$205.5K
Cap Rate 7%
$146,814
$146.8K
Cap Rate 9%
$114,189
$114.2K
Market Conditions
NOI Build-Up for 672 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
$14.5K $21.60/SF
− Vacancy
−$813 −$1.21/SF
EGI
$13.7K $20.39/SF
− OpEx
−$3.4K −$5.10/SF
NOI
$10.3K $15.29/SF
Area
Ocean 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%
$205,540
Cap Rate 7%
$146,814
Cap Rate 9%
$114,189
Alternative Uses
Best Use
Specialty Retail
$146.8K
$128.5K – $171.3K
NOI $10,277 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$175.5K
$153.5K – $204.7K
NOI $12,283 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08092, NJ
3,596
Population
1,475
Households
2.4
Avg Household Size
44
Median Age
36%
College-Educated
96%
High-School Grad
22.9 sq mi
ZIP Area
157
Density / Sq Mi
$97,058
Median Household Income
$57,931
Median Earnings
$1,408
Median Rent
$473,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Restaurant property established in 1957 at a West Creek address.
Where is this conventional restaurant located?
The property is located at 1116 S Main St West Creek, NJ.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Conventional restaurant property; Built in 1957; 1116 S Main St, West Creek, NJ 08092
