Restaurant Building with Short
For Sale
$999,999
168 McWhorter St #1, Newark, NJ 07105
Commercially zoned building occupied by a restaurant, with the operating business excluded from the sale.
Property Size2,400 SF
Days on Market453
Property Features for 168 McWhorter St #1
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
2,400 SF
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Re/Max First Realty Ii
(908) 664-1500
Listed By:
Rocco Lobrace · License #1969580
(908) 664-1500
Source:
Betterhomerealestate
Added: Jun 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:12AM
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 Re/Max First Realty Ii
Investment Insights
Based on property information with market context.
This commercial property is being offered as a building-only sale at 168 McWhorter St #1 in Newark City, New Jersey. The premises are currently occupied by a restaurant, while the restaurant business itself is not part of the transaction. Commercial zoning is identified for the property.
The existing lease has less than one year remaining, giving the next owner a defined lease horizon. The property is located in Newark’s Ironbound section. Additional properties at 170 McWhorter St and 68 Garden St are also available for separate purchase or as part of a package.
The existing lease has less than one year remaining, giving the next owner a defined lease horizon. The property is located in Newark’s Ironbound section. Additional properties at 170 McWhorter St and 68 Garden St are also available for separate purchase or as part of a package.
Key Highlights
- Building‑only sale at 168 McWhorter St #1, Newark City, NJ 07105
- Restaurant business currently operating in the space is excluded
- Existing lease has less than one year remaining
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
$43,718
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
4.37%
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%
$874,360
$874.4K
Cap Rate 7%
$624,543
$624.5K
Cap Rate 9%
$485,756
$485.8K
Market Conditions
NOI Build-Up for 2,400 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
$63.4K $26.40/SF
− Vacancy
−$5.1K −$2.11/SF
EGI
$58.3K $24.29/SF
− OpEx
−$14.6K −$6.07/SF
NOI
$43.7K $18.22/SF
Area
ZIP 07105
Vacancy
8.00%
Lease Rate
$26.40 /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%
$874,360
Cap Rate 7%
$624,543
Cap Rate 9%
$485,756
Alternative Uses
Best Use
Specialty Retail
$624.5K
$546.5K – $728.6K
NOI $43,718 @ 7.0% cap · market cap 4.37%
Second Best
Retail
$523.6K
$458.1K – $610.9K
NOI $36,651 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$858.4K
$751.1K – $1.00M
NOI $60,088 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,901
Businesses Nearby
213k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 29%
Groceries 22%
Home Improvements & Furnishings 2%
Seabra's Market
Groceries
47,485 visits/mo
0.4 miles
McDonald's
Dining
45,223 visits/mo
0.3 miles
Dollar Tree
Shops & Services
18,019 visits/mo
0.5 miles
BP
Shops & Services
14,035 visits/mo
0.4 miles
Exxon
Shops & Services
11,797 visits/mo
0.2 miles
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
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
- Pages Restaurant On the Mall — 150 Halsey St, Newark, NJ 07102
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned building occupied by a restaurant, with the operating business excluded from the sale.
Where is this conventional restaurant located?
The property is located at 168 McWhorter St #1 Newark, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Building‑only sale at 168 McWhorter St #1, Newark City, NJ 07105; Restaurant business currently operating in the space is excluded; Existing lease has less than one year remaining
