Restaurant with Attached Income
1553-1555 SUMMIT AVE Unit 1553 Hillside, NJ 07205
For Sale
$950,000
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 Market108
Property Features for 1553-1555 SUMMIT AVE Unit 1553
General Information
- Standard status
- Active
- Size
- 3,999 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1944
Listing Agency:
CORCORAN SAWYER SMITH
(551) 399-5525
Listed By:
DAVID LINCOLN WILSON
(551) 399-5525
Source:
Xome
Added: Apr 7
Changed: Jul 23
Last Checked: Jul 23 at 5:34PM
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.
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 For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.4k | $21.60 |
| − Vacancy | −$4.8k | −$1.21 |
| EGI | $81.5k | $20.39 |
| − OpEx | −$20.4k | −$5.10 |
| NOI | $61.2k | $15.29 |
3,999 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Off Market Nearby
- Lekki Lounge NJ — 256 Hollywood Ave, Hillside, NJ 07205
- El Sabor Criollo — 240 Long Ave, Hillside, NJ 07205
- Regional Bar — 430 Long Ave, Hillside, NJ 07205
- Carli's Lounge — 1555 Summit Ave, Hillside, NJ 07205
- Tankys Bar & Grill — 330 Long Ave, Hillside, NJ 07205
FAQs
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 Unit 1553 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
