Restaurant with Rental Income
For Sale
$1,500,000
15 Main St, Clinton, NJ 08809
Restaurant, equipment, rental units, and building lot for sale.
Property Size3,200 SF
Lot Size0.08 Acres
Price / SF$468.75
Days on Market200
Property Features for 15 Main St
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,301
Amenities
Central air
Asphalt Shingle Roof
2 Units Cooling
3 Units Heating
Off-Street Parking
Building Details
Year Built
1910
Listing Agency:
HAVEN REAL ESTATE COLLECTIVE
(908) 224-2836
Listed By:
ROBERT H STEEG
Source:
Corcoran
Added: Feb 2
Changed: Aug 20
Last Checked: Aug 21 at 7:32AM
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
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 = 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
$53,556
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
3.57%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 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.
