Restaurant with Private Event
For Sale
$1,350,000
1452 Lower Rd #1&2, Elizabeth, NJ 07208
The two-level property includes a takeout operation, an outdoor area, and a second-floor room for private gatherings.
Property Size4,000 SF
Price / SF$337.50
Days on Market104
Property Features for 1452 Lower Rd #1&2
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Zoning
mixed
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Currently Operating
Yes
Amenities
private event space
Building Details
Building Size
4,000 SF
Year Built
1940
Buildings
1
Stories
2
Units
1
Listing Agency:
Re/Max New Millennium Group
(908) 282-1234
Listed By:
Antonio Pereira
(908) 403-3356
Source:
Culturaunitedrealty
Added: Jul 17
Changed: Oct 26
Last Checked: Oct 26 at 3:47AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,000-square-foot restaurant property includes takeout service, an outdoor area, and a second-floor space for private parties and events. The two levels contain four bathrooms and two bars, with one bar on each floor. Restaurant equipment and a liquor license are included, along with the right to operate under the Rei Da Manivela name. Updates include flooring, bathrooms, lighting, electrical, and plumbing work.
The building and restaurant business are offered together. The business may also be sold separately, with a future option to purchase the building. The property was built in 1940 and is zoned mixed.
The building and restaurant business are offered together. The business may also be sold separately, with a future option to purchase the building. The property was built in 1940 and is zoned mixed.
Key Highlights
- 4,000‑square‑foot restaurant property with takeout service and an outdoor area
- Second‑floor space accommodates private parties and events
- Four bathrooms and two bars, distributed across two levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,954
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,080
$1.3M
Cap Rate 7%
$913,629
$913.6K
Cap Rate 9%
$710,600
$710.6K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$91.2K $22.80/SF
− Vacancy
−$5.9K −$1.48/SF
EGI
$85.3K $21.32/SF
− OpEx
−$21.3K −$5.33/SF
NOI
$64.0K $15.99/SF
Area
Elizabeth, NJ
Vacancy
6.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,080
Cap Rate 7%
$913,629
Cap Rate 9%
$710,600
Alternative Uses
Best Use
Specialty Retail
$913.6K
$799.4K – $1.07M
NOI $63,954 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,711 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
32k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 28%
Groceries 16%
Apparel 3%
Dollar General
Shops & Services
16,133 visits/mo
0.1 miles
Dunkin' Donuts
Dining
8,798 visits/mo
0.4 miles
Save-A-Lot
Groceries
5,060 visits/mo
0.5 miles
REI
Apparel
969 visits/mo
0.1 miles
U-Haul
Shops & Services
839 visits/mo
0.4 miles
Demographics for 07208, NJ
33,561
Population
12,958
Households
2.6
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
18,645
Density / Sq Mi
$61,873
Median Household Income
$36,373
Median Earnings
$1,364
Median Rent
$425,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The two-level property includes a takeout operation, an outdoor area, and a second-floor room for private gatherings.
Where is this conventional restaurant located?
The property is located at 1452 Lower Rd #1&2 Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 4,000‑square‑foot restaurant property with takeout service and an outdoor area; Second‑floor space accommodates private parties and events; Four bathrooms and two bars, distributed across two levels
