Mixed-Use Brewery and
For Sale
Contact for pricing
15 S Orange Ave, South Orange, NJ 07079
Three-level brewery and restaurant building with bar, party room, and additional basement space included.
Property Size9,000 SF
Price / SF$372.22
Days on Market188
Property Features for 15 S Orange Ave
General Information
Standard status
Active
Size
9,000 SF
Property subtype
RETAIL
Building Details
Stories
2
Listing Agency:
RE/MAX TEAM 2000
(708) 429-4300
Listed By:
Patricia Tarczilo
(908) 709-8200
Source:
Moodyscre
Added: Mar 3
Changed: Aug 13
Last Checked: Jul 22 at 9:45PM
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 RE/MAX TEAM 2000
Investment Insights
Based on property information with market context.
This property operates as a first-floor brewery and restaurant, with a second-floor bar and party room. Additional basement space is included, providing extra functional area for storage or support uses. The building also offers room for future expansion, as two additional floors can be added.
The site is located one street from a commuter train and is positioned in a vibrant downtown area. It is also noted to be near Seaton Hall and directly across from a new 111-unit luxury apartment complex.
Overall, the existing layout supports food and beverage use across multiple floors, with the added benefit of included basement space and expansion potential.
The site is located one street from a commuter train and is positioned in a vibrant downtown area. It is also noted to be near Seaton Hall and directly across from a new 111-unit luxury apartment complex.
Overall, the existing layout supports food and beverage use across multiple floors, with the added benefit of included basement space and expansion potential.
Key Highlights
- Three‑level brewery and restaurant building with bar and party room
- Additional basement space included
- Second floor features an additional bar and party room
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
$137,635
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
4.11%
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%
$2,752,700
$2.8M
Cap Rate 7%
$1,966,214
$2.0M
Cap Rate 9%
$1,529,278
$1.5M
Market Conditions
NOI Build-Up for 9,000 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
$194.4K $21.60/SF
− Vacancy
−$10.9K −$1.21/SF
EGI
$183.5K $20.39/SF
− OpEx
−$45.9K −$5.10/SF
NOI
$137.6K $15.29/SF
Area
Essex 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%
$2,752,700
Cap Rate 7%
$1,966,214
Cap Rate 9%
$1,529,278
Alternative Uses
Best Use
Specialty Retail
$1.97M
$1.72M – $2.29M
NOI $137,635 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$1.47M
$1.29M – $1.72M
NOI $103,130 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,506 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,456
Businesses Nearby
Explore this area
Business Placement
Demographics for 07079, NJ
18,597
Population
6,131
Households
3
Avg Household Size
34
Median Age
76%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
6,413
Density / Sq Mi
$184,769
Median Household Income
$75,829
Median Earnings
$2,067
Median Rent
$808,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Three-level brewery and restaurant building with bar, party room, and additional basement space included.
Where is this brewery located?
The property is located at 15 S Orange Ave South Orange, NJ.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Three‑level brewery and restaurant building with bar and party room; Additional basement space included; Second floor features an additional bar and party room
