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    Mixed-Use Restaurant and Office Units Title is generated by Realmo AI

    12 S Main Street Unit Unit A & B, Pennington, NJ 08534

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    For Sale
    $1,198,500

    Two-unit property with a restaurant setup and a separate music studio, plus off-street parking and a shared courtyard.

    Type:Commercial
    Added:
    Dec 9, 2024
    Days on Market:
    543
    Last Refresh:
    Jun 5 at 2:16 am

    Property Features for 12 S Main Street Unit Unit A & B

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Brinton H West

    Listing agent Brinton H West

    Listing office Callaway Henderson Sotheby's Int'l-Princeton

    Listing date Dec 9, 2024

    Source Deepcreeklake

    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 Callaway Henderson Sotheby's Int'l-Princeton

    HighLights

    • Commercial two‑unit property built in 2004: sushi restaurant space plus a separate music studio
    • Restaurant designed for up to 40 patrons, with double‑entry vestibule, reception area, booth seating, and sushi counter with 6 seats
    • Restaurant kitchen includes walk‑in refrigerator and freezer, grease trap, and multiple work zones for cooking and prep
    • Second unit is fully leased as a music studio, providing consistent monthly rental income
    • Includes shared courtyard connecting to the street and off‑street parking for multiple vehicles
    • Restaurant space features spacious storage area to support inventory and operations

    Overview

    The property consists of two distinct units offered together, with Unit A currently operating as a sushi restaurant and Unit B fully leased as a music studio. The restaurant layout features a double-entry vestibule that opens to a reception area, followed by four booths, a sushi counter with six seats, and additional table seating designed to accommodate up to 40 patrons. The kitchen includes a walk-in refrigerator and freezer, a grease trap, and multiple work zones for prep and cooking, supported by a spacious storage area for inventory management.

    The building includes an outdoor shared courtyard that flows through to the street, with off-street parking available for multiple vehicles.

    For tenants, buyers, or operators seeking a mixed-use setup, the restaurant improvements are already in place, including dedicated front-of-house seating areas and the core kitchen systems. The second unit is separately leased as a music studio, offering an additional income stream tied to a current tenant, while the property’s courtyard and parking support customer and employee access. Please note that the restaurant business is not included; the offering is for the real estate only.
    Location Intelligence

    Current Use by Public Records

    360 Tech Solutions, ... Home Appliance Store Saphire Albarran Archtr ... Architect Metricon Corporation Industrial Manufacturer Sumo Sushi - Pennington Restaurant Atom Property Group Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pennington
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7914551
    Latitude
    40.3274166

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    FAQs

    What type of property is this?
    Conventional restaurant - Two-unit property with a restaurant setup and a separate music studio, plus off-street parking and a shared courtyard.
    Where is this conventional restaurant located?
    The property is located at 12 S Main Street Unit Unit A & B Pennington, NJ.
    What is the asking price?
    The asking price for this property is $1,198,500.
    What are key features of this property?
    This property features: Commercial two‑unit property built in 2004: sushi restaurant space plus a separate music studio; Restaurant designed for up to 40 patrons, with double‑entry vestibule, reception area, booth seating, and sushi counter with 6 seats; Restaurant kitchen includes walk‑in refrigerator and freezer, grease trap, and multiple work zones for cooking and prep
    We can help!
    Listing Contact
    Brinton H West
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    12 S Main Street Unit, Unit A & B, Pennington, NJ 08534
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