Three-Story Bar and
For Sale
$1,600,000
123 123-127 High St N, Millville, NJ 08332
Operating hospitality property with a commercial kitchen, beer garden, liquor license, and four residential apartments.
Property Size6,000 SF
Price / SF$266.67
Days on Market15
Property Features for 123 123-127 High St N
General Information
Standard status
Active
Size
6,000 SF
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Multifamily Units
4
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
S. Kelly Real Estate LLC
(856) 332-8583
Listed By:
Jacqueline Capoferri · License #1541079
Source:
Selltheshore
Added: Aug 17
Changed: Aug 31
Last Checked: Aug 26 at 8:52AM
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 S. Kelly Real Estate LLC
Investment Insights
Based on property information with market context.
The offering combines 123 and 127 N. High Street as a 6,000-square-foot, three-story hospitality property with an established bar and restaurant operation. The sale includes the real estate, business, liquor license, furniture, fixtures, and equipment where applicable. Interior improvements include bar and dining areas, a commercial kitchen with prep and beverage stations, storage, cooking equipment, a walk-in beer cooler, freezer, and owned ice machine. An all-season beer garden adds a 12-seat outdoor bar and 16 tables, while four residential apartments provide an additional component to the property.
Located in Downtown Millville, the property sits across from a regional year-round theater and benefits from nearby public parking. The bar includes 36 draft beer taps and a Micro Matic dispensing system. The combined properties were built in 1900 and are being offered with the operating business and residential units. Additional business information requires execution of a confidentiality or non-disclosure agreement, and the buyer is responsible for due diligence concerning operations and liquor license transfer requirements.
Located in Downtown Millville, the property sits across from a regional year-round theater and benefits from nearby public parking. The bar includes 36 draft beer taps and a Micro Matic dispensing system. The combined properties were built in 1900 and are being offered with the operating business and residential units. Additional business information requires execution of a confidentiality or non-disclosure agreement, and the buyer is responsible for due diligence concerning operations and liquor license transfer requirements.
Key Highlights
- Combined 123 and 127 N. High Street properties offered together
- 6,000‑square‑foot, three‑story building constructed in 1900
- Four residential apartments included with the commercial operation
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
$84,065
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
5.25%
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%
$1,681,300
$1.7M
Cap Rate 7%
$1,200,929
$1.2M
Cap Rate 9%
$934,056
$934.1K
Market Conditions
NOI Build-Up for 6,000 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
$117.0K $19.50/SF
− Vacancy
−$4.9K −$0.82/SF
EGI
$112.1K $18.68/SF
− OpEx
−$28.0K −$4.67/SF
NOI
$84.1K $14.01/SF
Area
Cumberland County, NJ
Vacancy
4.20%
Lease Rate
$19.50 /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%
$1,681,300
Cap Rate 7%
$1,200,929
Cap Rate 9%
$934,056
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,065 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$1.03M
$897.9K – $1.20M
NOI $71,830 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$9.01M
$7.88M – $10.51M
NOI $630,634 @ 7.0% cap · market cap 39.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Rail Road Tavern — 334 s 3rd st, millville, nj 08332
- Old Oar House Irish Pub — 123 N High St, Millville, NJ 08332
- Bojo's Ale House — 222 N High St, Millville, NJ 08332
- Mission Spirits Distillery — 215 Buck St, Millville, NJ 08332
Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating hospitality property with a commercial kitchen, beer garden, liquor license, and four residential apartments.
Where is this bar & pub located?
The property is located at 123 123-127 High St N Millville, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Combined 123 and 127 N. High Street properties offered together; 6,000‑square‑foot, three‑story building constructed in 1900; Four residential apartments included with the commercial operation
