Established Restaurant with Outdoor
1452 Lower Rd Elizabeth, NJ 07208
1452 Lower Rd, Elizabeth, NJ, 07208
$1,495,000
For Sale
$1,495,000
Restaurant building with takeout setup, outdoor area, and second-floor space for private parties and events.
Property Size4,000 SF
Price / SF$373.75
Days on Market8
Property Features for 1452 Lower Rd
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1940
Listing agency
RE/MAX NEW MILLENNIUM GROUP
(908) 282-1234
Listed by
ANTONIO PEREIRA
Source
Corcoran
Added: Jul 15 Updated: Jul 22 at 2:39AM Checked: Jul 22 at 2:39AM
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 NEW MILLENNIUM GROUP
Investment Insights
Based on property information with market context.
Well-established restaurant property offered for sale with the building and business included. The concept includes takeout service and an outdoor area, along with second-floor space designed for private parties and events. The sale includes a liquor license, restaurant equipment, and the right to do business as “Rei Da Manivela.”
The property has four bathrooms total, with two per level, and two bars, one per level. Recent updates include renovated floors, bathrooms, lighting, as well as electrical and plumbing improvements.
Business and building are included in the offering, with the additional note that the business may be sold only with a future option to purchase the building.
The property has four bathrooms total, with two per level, and two bars, one per level. Recent updates include renovated floors, bathrooms, lighting, as well as electrical and plumbing improvements.
Business and building are included in the offering, with the additional note that the business may be sold only with a future option to purchase the building.
Key Highlights
- 1940‑built restaurant building with takeout setup, outdoor area, and second‑floor space for private parties and events
- Business and building included, with option to sell business only and later purchase the building
- Liquor license included
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.2k | $22.80 |
| − Vacancy | −$5.9k | −$1.48 |
| EGI | $85.3k | $21.32 |
| − OpEx | −$21.3k | −$5.33 |
| NOI | $64.0k | $15.99 |
4,000 SF · lease $22.80/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$913.6K
$799.4K – $1.07M
NOI $63,954 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,711 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant building with takeout setup, outdoor area, and second-floor space for private parties and events.
Where is this conventional restaurant located?
The property is located at 1452 Lower Rd Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 1940‑built restaurant building with takeout setup, outdoor area, and second‑floor space for private parties and events; Business and building included, with option to sell business only and later purchase the building; Liquor license included
