Freestanding Restaurant with Dining
223 New St #1, Woodland Park, NJ 07424
For Sale
$975,000
The restaurant layout includes a dining area, equipped kitchen and on-site parking.
Property Size2,653 SF
Lot Size0.23 Acres
Price / SF$367.51
Days on Market488
Property Features for 223 New St #1
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Additional Details
Highway Access
Seating Capacity
Currently Operating
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Realty One Group Legend
(973) 686-7777
Listed By:
Huseyin Tatar
(973) 910-0535
Source:
Culturaunitedrealty
Added: Jul 10, 2025
Changed: Nov 7
Last Checked: Nov 8 at 3:30PM
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 Realty One Group Legend
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding restaurant property contains a 2,653-square-foot building on a 10,000-square-foot lot. The interior includes a dining area with seating for up to 85 guests and an equipped kitchen. The property is currently operating as a pizzeria and is zoned C-4A.
Located in Woodland Park near Rifle Camp Road, the property is minutes from Routes 80 and 46. The building was constructed in 1970.
Located in Woodland Park near Rifle Camp Road, the property is minutes from Routes 80 and 46. The building was constructed in 1970.
Key Highlights
- 2,653‑square‑foot restaurant building on a 10,000‑square‑foot lot
- Dining area accommodates up to 85 guests
- Equipped kitchen and on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,572
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,440
$811.4K
Cap Rate 7%
$579,600
$579.6K
Cap Rate 9%
$450,800
$450.8K
Market Conditions
NOI Build-Up for 2,653 SF
Gross rent
$57.3K $21.60/SF
− Vacancy
−$3.2K −$1.21/SF
EGI
$54.1K $20.39/SF
− OpEx
−$13.5K −$5.10/SF
NOI
$40.6K $15.29/SF
Area
Passaic 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%
$811,440
Cap Rate 7%
$579,600
Cap Rate 9%
$450,800
Alternative Uses
Best Use
Specialty Retail
$579.6K
$507.2K – $676.2K
NOI $40,572 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$692.8K
$606.2K – $808.2K
NOI $48,493 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
271k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Apparel 27%
Dining 24%
Shops & Services 13%
ShopRite
Groceries
93,820 visits/mo
0.4 miles
Kohl's
Apparel
66,312 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
23,496 visits/mo
0.3 miles
Taco Bell
Dining
21,629 visits/mo
0.3 miles
Krispy Kreme Doughnuts
Dining
18,755 visits/mo
0.3 miles
Demographics for 07424, NJ
26,776
Population
11,243
Households
2.4
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
5.7 sq mi
ZIP Area
4,698
Density / Sq Mi
$104,122
Median Household Income
$47,894
Median Earnings
$1,771
Median Rent
$477,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The restaurant layout includes a dining area, equipped kitchen and on-site parking.
Where is this conventional restaurant located?
The property is located at 223 New St #1 Woodland Park, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 2,653‑square‑foot restaurant building on a 10,000‑square‑foot lot; Dining area accommodates up to 85 guests; Equipped kitchen and on‑site parking
