Restaurant with Rental Income
For Sale
$1,500,000
15 - 17 Main St, Clinton, NJ 08809
Restaurant, equipment, rental units, and building lot for sale.
Property Size3,200 SF
Price / SF$468.75
Days on Market228
Property Features for 15 - 17 Main St
General Information
Standard status
Active
Size
3,200 SF
Building Details
Year Built
1910
Listing Agency:
HAVEN REAL ESTATE COLLECTIVE
Listed By:
ROBERT H STEEG
(908) 224-2836
Source:
Thebansalteam
Added: Mar 5
Changed: Oct 15
Last Checked: Oct 7 at 1:18PM
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 HAVEN REAL ESTATE COLLECTIVE
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Investment Insights
Based on property information with market context.
The sale includes the real estate, business, and equipment of Dora Restaurant, a long-established upscale modern restaurant. The restaurant features an outdoor dining area and operates as a BYOB establishment, as it does not have a liquor license. The property also includes two upstairs rental units, providing additional income potential. Furthermore, the sale encompasses a separate building lot next door, complete with building plans. The property size is 3200 square feet.
Key Highlights
- Sale includes real estate, established Dora Restaurant business, and equipment.
- Two upstairs rental units provide income potential.
- Includes a separate building lot next door with building plans.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,556
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,120
$1.1M
Cap Rate 7%
$765,086
$765.1K
Cap Rate 9%
$595,067
$595.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$81.8K $25.56/SF
− Vacancy
−$5.3K −$1.65/SF
EGI
$76.5K $23.91/SF
− OpEx
−$23.0K −$7.17/SF
NOI
$53.6K $16.74/SF
Area
Hunterdon County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,120
Cap Rate 7%
$765,086
Cap Rate 9%
$595,067
Alternative Uses
Best Use
Multifamily LT 5
$765.1K
$669.5K – $892.6K
NOI $53,556 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$703.0K
$615.1K – $820.2K
NOI $49,210 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08809, NJ
7,255
Population
2,353
Households
3.1
Avg Household Size
44
Median Age
52%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
1,051
Density / Sq Mi
$127,169
Median Household Income
$68,209
Median Earnings
$1,721
Median Rent
$413,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant, equipment, rental units, and building lot for sale.
Where is this conventional restaurant located?
The property is located at 15 - 17 Main St Clinton, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Sale includes real estate, established Dora Restaurant business, and equipment.; Two upstairs rental units provide income potential.; Includes a separate building lot next door with building plans.
