Two-Level Japanese Fusion
For Sale
Contact for pricing
23 E Palisade Ave, Englewood, NJ 07631
Fully equipped hospitality operation with dining, lounge, bar, kitchen, storage, and back-of-house areas.
Property Size10,000 SF
Price / SF$179.90
Days on Market185
Property Features for 23 E Palisade Ave
General Information
Standard status
Active
Size
10,000 SF
Class
A
Property subtype
Business for Sale
Financials
Asking Price
$1,799,000
Business Included
Yes
Restaurant
Seating Capacity
220
Equipment Included
Yes
Liquor License
Yes
Listing Agency:
Christie's International Real Estate
(914) 262-2598
Listed By:
Bryan Lanza · License #NY 10401287317
Source:
Crexi
Added: Feb 27
Changed: Aug 31
Last Checked: Aug 31 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 Christie's International Real Estate
Investment Insights
Based on property information with market context.
This restaurant business occupies 10,000 square feet across two levels at 23 East Palisade Avenue in Englewood. The main floor provides approximately 5,000 square feet of dining, lounge, and bar space with seating for 220 guests. A lower level of approximately 5,000 square feet contains the prep kitchen, storage, and back-of-house support areas.
The operation is offered with lease assumption and transfer of a Plenary Retail Consumption Liquor License. The lease has seven years remaining and includes one five-year extension option. The concept combines Japanese cuisine with a Tex-Mex fusion component and is designed for both dining and evening lounge use. Interior elements include red accent walls, subdued lighting, upscale finishes, and a bar-focused environment.
Located in downtown Englewood, the business is positioned within an established dining corridor near Manhattan and a substantial residential base.
The operation is offered with lease assumption and transfer of a Plenary Retail Consumption Liquor License. The lease has seven years remaining and includes one five-year extension option. The concept combines Japanese cuisine with a Tex-Mex fusion component and is designed for both dining and evening lounge use. Interior elements include red accent walls, subdued lighting, upscale finishes, and a bar-focused environment.
Located in downtown Englewood, the business is positioned within an established dining corridor near Manhattan and a substantial residential base.
Key Highlights
- 10,000 square feet arranged across two levels
- Approximately 5,000 square feet of main‑level dining, lounge, and bar space
- Seating capacity for 220 guests
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
$152,928
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
8.50%
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%
$3,058,560
$3.1M
Cap Rate 7%
$2,184,686
$2.2M
Cap Rate 9%
$1,699,200
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$12.1K −$1.21/SF
EGI
$203.9K $20.39/SF
− OpEx
−$51.0K −$5.10/SF
NOI
$152.9K $15.29/SF
Area
Bergen 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%
$3,058,560
Cap Rate 7%
$2,184,686
Cap Rate 9%
$1,699,200
Alternative Uses
Best Use
Specialty Retail
$2.18M
$1.91M – $2.55M
NOI $152,928 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2,813
Businesses Nearby
197k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Dining 30%
Shops & Services 26%
Electronics 4%
ShopRite
Groceries
77,809 visits/mo
0.1 miles
McDonald's
Dining
13,634 visits/mo
Starbucks
Dining
10,878 visits/mo
0.2 miles
Chipotle Mexican Grill
Dining
10,747 visits/mo
0.0 miles
IHOP
Dining
10,588 visits/mo
0.3 miles
Demographics for 07631, NJ
29,308
Population
12,047
Households
2.4
Avg Household Size
40
Median Age
46%
College-Educated
90%
High-School Grad
4.9 sq mi
ZIP Area
5,981
Density / Sq Mi
$101,398
Median Household Income
$53,056
Median Earnings
$1,925
Median Rent
$497,500
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 hospitality operation with dining, lounge, bar, kitchen, storage, and back-of-house areas.
Where is this conventional restaurant located?
The property is located at 23 E Palisade Ave Englewood, NJ.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 10,000 square feet arranged across two levels; Approximately 5,000 square feet of main‑level dining, lounge, and bar space; Seating capacity for 220 guests
