Long-Standing Restaurant on Major
For Sale
$450,000
15 BLACK HORSE PIKE, Williamstown, NJ 08094
Restaurant property on E Black Horse Pike with over 30 years of continuous operation and existing infrastructure for continued use.
Property Size1,904 SF
Price / SF$236.34
Days on Market135
Property Features for 15 BLACK HORSE PIKE
General Information
Standard status
Active
Size
1,904 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$411
Amenities
Central Air
3
Parking.
Lot.
Building Details
Year Built
1965
Listing Agency:
Coldwell Banker Realty
(646) 508-8121
Listed By:
Chun Liu · License #2443037
(646) 508-8121
Source:
Xome
Added: Mar 28
Changed: Aug 8
Last Checked: Aug 9 at 4:35AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This for-sale restaurant location has been successfully operated for over 30 years and is currently supported by existing structure and infrastructure designed for restaurant use. The property is positioned for continued operation or updates to fit a new concept, with the benefit of ongoing performance as described in the public remarks.
Located at 15 E Black Horse Pike in Williamstown, NJ, the site sits along a highly visible, high-traffic commercial corridor, supporting consistent exposure to passing traffic. The offering is presented with the instruction that staff should not be approached or business operations disturbed; all showings must be scheduled through the listing agent.
The property tax component is also noted as low in the remarks, which may be relevant for buyers evaluating operating costs and total ownership expense.
Located at 15 E Black Horse Pike in Williamstown, NJ, the site sits along a highly visible, high-traffic commercial corridor, supporting consistent exposure to passing traffic. The offering is presented with the instruction that staff should not be approached or business operations disturbed; all showings must be scheduled through the listing agent.
The property tax component is also noted as low in the remarks, which may be relevant for buyers evaluating operating costs and total ownership expense.
Key Highlights
- Restaurant property on E Black Horse Pike with over 30 years of continuous operation.
- Existing structure supports ongoing restaurant use, with infrastructure in place for continued operation or customization.
- High‑traffic corridor location along Black Horse Pike.
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
$29,117
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
6.47%
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%
$582,340
$582.3K
Cap Rate 7%
$415,957
$416.0K
Cap Rate 9%
$323,522
$323.5K
Market Conditions
NOI Build-Up for 1,904 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
$41.1K $21.60/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$38.8K $20.39/SF
− OpEx
−$9.7K −$5.10/SF
NOI
$29.1K $15.29/SF
Area
Middlesex 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%
$582,340
Cap Rate 7%
$415,957
Cap Rate 9%
$323,522
Alternative Uses
Best Use
Specialty Retail
$416.0K
$364.0K – $485.3K
NOI $29,117 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.2K
$435.0K – $580.0K
NOI $34,802 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
824
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
CubeSmart Self Storage
Shops & Services
824 visits/mo
0.4 miles
Demographics for 08094, NJ
40,774
Population
15,878
Households
2.6
Avg Household Size
41
Median Age
28%
College-Educated
94%
High-School Grad
54.8 sq mi
ZIP Area
744
Density / Sq Mi
$92,125
Median Household Income
$52,681
Median Earnings
$1,420
Median Rent
$260,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property on E Black Horse Pike with over 30 years of continuous operation and existing infrastructure for continued use.
Where is this conventional restaurant located?
The property is located at 15 BLACK HORSE PIKE Williamstown, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Restaurant property on E Black Horse Pike with over 30 years of continuous operation.; Existing structure supports ongoing restaurant use, with infrastructure in place for continued operation or customization.; High‑traffic corridor location along Black Horse Pike.
