Turnkey Irish Pub and
For Sale
$1,600,000
123127 HIGH STREET, Millville, NJ 08332
Three-story property includes an operating Irish pub, commercial kitchen, and four residential rental apartments.
Property Size6,000 SF
Price / SF$266.67
Days on Market39
Property Features for 123127 HIGH STREET
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Mixed Use
Additional Details
Furnished
Yes
Business Included
Yes
Liquor License
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,771
Amenities
Central Air, Ceiling Fan(s)
3
Carbon Monoxide Detector
Parking.
Private, On Street.
123 N HIGH LOT SQFT 1722
Additional Lot(s). Other, Downtown.
Building Details
Year Built
1900
Stories
3
Listing Agency:
S. Kelly Real Estate LLC
(856) 332-8583
Listed By:
Jacqueline Capoferri · License #1541079
(856) 332-8583
Source:
Xome
Added: Jul 4
Changed: Aug 8
Last Checked: Aug 10 at 3:41AM
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.
This sale offers a turnkey hospitality property consisting of two adjoining addresses, 123 and 127 N. High Street, offered together as one package. The three-story building is home to The Old Oar House Irish Pub and includes the operating business along with the real estate. The pub features a main bar area with seating and multiple dining spaces, plus an all-season beer garden with an outdoor bar and additional tables.
The property includes a fully operational commercial kitchen with dedicated prep and drink station, dry storage, deep fryers, ovens, and cooktops. Additional operational support includes a separate liquor storage area, walk-in beer cooler, freezer, and owned ice machine. Beverage service is supported by 36 draft beer taps and a Micro Matic draft beer dispensing system.
The sale also includes four residential apartments, creating multiple income-producing components. Buyer is responsible for due diligence regarding business operations and liquor license transfer requirements and will be required to execute a confidentiality/non-disclosure agreement (NDA) prior to receiving additional business information.
The property includes a fully operational commercial kitchen with dedicated prep and drink station, dry storage, deep fryers, ovens, and cooktops. Additional operational support includes a separate liquor storage area, walk-in beer cooler, freezer, and owned ice machine. Beverage service is supported by 36 draft beer taps and a Micro Matic draft beer dispensing system.
The sale also includes four residential apartments, creating multiple income-producing components. Buyer is responsible for due diligence regarding business operations and liquor license transfer requirements and will be required to execute a confidentiality/non-disclosure agreement (NDA) prior to receiving additional business information.
Key Highlights
- Sale includes two adjoining properties: 123 & 127 N. High Street, offered together as one package.
- Three‑story commercial building operating as The Old Oar House Irish Pub with bar, dining areas, and all‑season beer garden.
- Beer garden features a 12‑seat outdoor bar plus 16 additional tables for year‑round outdoor dining.
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
Multifamily LT 5
$1.11M
$975.4K – $1.30M
NOI $78,029 @ 7.0% cap · market cap 4.88%
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
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
342
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
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Three-story property includes an operating Irish pub, commercial kitchen, and four residential rental apartments.
Where is this bar & pub located?
The property is located at 123127 HIGH STREET 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: Sale includes two adjoining properties: 123 & 127 N. High Street, offered together as one package.; Three‑story commercial building operating as The Old Oar House Irish Pub with bar, dining areas, and all‑season beer garden.; Beer garden features a 12‑seat outdoor bar plus 16 additional tables for year‑round outdoor dining.
