Red Bank Pizzeria
For Sale
Contact for pricing
177 Broad St, Red Bank, NJ 07701
Fully equipped, renovated pizzeria for sale in downtown Red Bank.
Property Size1,890 SF
Price / SF$492.06
Days on Market997
Property Features for 177 Broad St
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Retail
Lease Type
NNN
Building Details
Stories
1
Tenancy
Single
Listing Agency:
VRI
(732) 264-9593
Listed By:
Anthony Genovese · License #NJ1859350
Source:
Crexi
Added: Nov 17, 2023
Changed: Aug 8
Last Checked: May 12 at 8:38PM
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 VRI
Investment Insights
Based on property information with market context.
This is an opportunity to own a fully equipped and recently renovated pizzeria located in downtown Red Bank. The 1,890 square foot space, situated on Broad Street, features indoor seating for over 40 guests, with the potential for additional outdoor seating. A shared rear parking lot is available. The zoning (CCD-1) allows for multiple commercial uses. The property is suitable for a restaurant operator looking to launch quickly or an investor seeking a ready-to-lease asset in a high-demand market. Included in the sale are (2) Double Baker Pride Pizza Ovens, (2) Hoods & Ansul Fire Suppression System, (2) Pizza Low Boys, Walk-in Box Refrigerator, 60-Quart Hobart Dough Mixer, 3-Bay Sink + Hand Sink, (2) Deep Fryers + Range, Security Camera System, and Decorative Chandeliers. All equipment is in working condition.
Key Highlights
- Fully equipped, recently renovated pizzeria: Plug‑and‑play opportunity.
- Prime downtown Red Bank location on Broad Street.**
- 1,890 SF space with indoor seating for 40+ guests and potential for outdoor seating.
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
$28,903
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
3.11%
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%
$578,060
$578.1K
Cap Rate 7%
$412,900
$412.9K
Cap Rate 9%
$321,144
$321.1K
Market Conditions
NOI Build-Up for 1,890 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
$40.8K $21.60/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$38.5K $20.39/SF
− OpEx
−$9.6K −$5.10/SF
NOI
$28.9K $15.29/SF
Area
Monmouth 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%
$578,060
Cap Rate 7%
$412,900
Cap Rate 9%
$321,144
Alternative Uses
Best Use
Specialty Retail
$412.9K
$361.3K – $481.7K
NOI $28,903 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$493.5K
$431.8K – $575.8K
NOI $34,546 @ 7.0% cap · market cap 3.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,790
Businesses Nearby
85k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 41%
Electronics 7%
Apparel 4%
Dunkin' Donuts
Dining
12,301 visits/mo
0.3 miles
Citizens Bank
Shops & Services
11,395 visits/mo
0.2 miles
Starbucks
Dining
9,912 visits/mo
0.2 miles
Bank of America
Shops & Services
8,100 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,690 visits/mo
0.3 miles
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped, renovated pizzeria for sale in downtown Red Bank.
Where is this conventional restaurant located?
The property is located at 177 Broad St Red Bank, NJ.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Fully equipped, recently renovated pizzeria: **Plug‑and‑play opportunity.**; Prime downtown Red Bank location on Broad Street.**; 1,890 SF space with indoor seating for 40+ guests and potential for outdoor seating.
