Bar Property With Income
For Sale
$950,000
1553-1555 Summit Ave, Hillside, NJ 07205
Established bar business includes a liquor license, furnishings, inventory, and an attached income-producing unit.
Property Size3,999 SF
Price / SF$237.56
Days on Market25
Property Features for 1553-1555 Summit Ave
General Information
Standard status
Active
Size
3,999 SF
Additional Details
Furnished
Yes
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1944
Listing Agency:
CORCORAN SAWYER SMITH
(551) 399-5525
Listed By:
DAVID LINCOLN WILSON
Source:
Luminancerealty
Added: Aug 6
Changed: Aug 30
Last Checked: Aug 30 at 9:43AM
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 CORCORAN SAWYER SMITH
Investment Insights
Based on property information with market context.
This 3,999-square-foot bar property at 1553-1555 Summit Ave includes the operational components of an established hospitality business. The sale includes a liquor license, inventory, furniture, fixtures, and a security system, along with an attached unit that produces additional income.
The business has operated at the property for 15 years and includes food service and live DJ entertainment. Built in 1944, the property combines an existing bar operation with an attached income-producing component.
The business has operated at the property for 15 years and includes food service and live DJ entertainment. Built in 1944, the property combines an existing bar operation with an attached income-producing component.
Key Highlights
- 3,999‑square‑foot bar property at 1553‑1555 Summit Ave
- Liquor license, inventory, furniture, fixtures, and security system included
- Attached income‑producing unit
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
$61,156
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
6.44%
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%
$1,223,120
$1.2M
Cap Rate 7%
$873,657
$873.7K
Cap Rate 9%
$679,511
$679.5K
Market Conditions
NOI Build-Up for 3,999 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
$86.4K $21.60/SF
− Vacancy
−$4.8K −$1.21/SF
EGI
$81.5K $20.39/SF
− OpEx
−$20.4K −$5.10/SF
NOI
$61.2K $15.29/SF
Area
Union 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%
$1,223,120
Cap Rate 7%
$873,657
Cap Rate 9%
$679,511
Alternative Uses
Best Use
Specialty Retail
$873.7K
$764.5K – $1.02M
NOI $61,156 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$913.7K – $1.22M
NOI $73,095 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,825
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
14,419 visits/mo
0.4 miles
Sunoco
Shops & Services
8,289 visits/mo
0.5 miles
Demographics for 07205, NJ
22,432
Population
7,550
Households
3
Avg Household Size
39
Median Age
29%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
8,011
Density / Sq Mi
$98,558
Median Household Income
$47,633
Median Earnings
$1,712
Median Rent
$363,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lekki Lounge NJ — 256 Hollywood Ave, Hillside, NJ 07205
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- Tankys Bar & Grill — 330 Long Ave, Hillside, NJ 07205
- El Sabor Criollo — 240 Long Ave, Hillside, NJ 07205
- Carli's Lounge — 1555 Summit Ave, Hillside, NJ 07205
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established bar business includes a liquor license, furnishings, inventory, and an attached income-producing unit.
Where is this bar & pub located?
The property is located at 1553-1555 Summit Ave Hillside, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,999‑square‑foot bar property at 1553‑1555 Summit Ave; Liquor license, inventory, furniture, fixtures, and security system included; Attached income‑producing unit
