Restaurant with Attached Income
For Sale
$950,000
1553-1555 Summit Ave, Hillside, NJ 07205
For sale as a built restaurant operation with an attached income-producing unit and included liquor license, inventory, and equipment.
Property Size3,999 SF
Price / SF$237.56
Days on Market182
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
Listed By:
DAVID LINCOLN WILSON
(551) 399-5525
Source:
Luminancerealty
Added: Apr 24
Changed: Oct 15
Last Checked: Oct 6 at 12:29AM
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
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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.
The offering at 1553 Summit Ave #1553 is a fully built restaurant/bar business and includes the items needed to operate, such as a liquor license, inventory, security system, furniture, and fixtures. The property is also described as having an attached income-producing unit, which is included as part of the sale.
The property is located at 1553-1555 Summit Ave Unit 1553 in Hillside Township, NJ 07205.
The sale is structured to support an operator looking to take over an existing, ready-to-run concept, with the attached unit positioned to provide additional revenue alongside the main business.
The property is located at 1553-1555 Summit Ave Unit 1553 in Hillside Township, NJ 07205.
The sale is structured to support an operator looking to take over an existing, ready-to-run concept, with the attached unit positioned to provide additional revenue alongside the main business.
Key Highlights
- Built restaurant operation for sale with an attached income‑producing unit
- Sale includes liquor license, inventory, security system, furniture, and fixtures/equipment for the operation
- Corner lot with handicapped access and freestanding exterior features
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,156
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Lekki Lounge NJ — 256 Hollywood Ave, Hillside, NJ 07205
- Regional Bar — 430 Long Ave, Hillside, NJ 07205
- 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 - For sale as a built restaurant operation with an attached income-producing unit and included liquor license, inventory, and equipment.
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: Built restaurant operation for sale with an attached income‑producing unit; Sale includes liquor license, inventory, security system, furniture, and fixtures/equipment for the operation; Corner lot with handicapped access and freestanding exterior features
