Building Details

Year Built 1930

Listing Agency: WEICHERT REALTORS Show Phone

Listed By: NICOLE LEVINE

Source: Corcoran

Added: Feb 28 Changed: Aug 20 Last Checked: Aug 21 at 8:54AM

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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 WEICHERT REALTORS

Investment Insights

Based on property information with market context.

This is a 2.2-acre riverfront property with a 2600-square-foot building, presenting an investment opportunity for a restaurant. The property includes a Class A liquor license and used kitchen equipment. The building requires extensive renovations.

Key Highlights

• Riverfront property offers a unique opportunity.
• Sprawling 2.2 acres of land.
• Includes a Class A liquor license.

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

$39,761

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

8.84%

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%

$795,220 $795.2K

Cap Rate 7%

$568,014 $568.0K

Cap Rate 9%

$441,789 $441.8K

Market Conditions

NOI Build-Up for 2,600 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

$56.2K $21.60/SF

− Vacancy

−$3.1K −$1.21/SF

EGI

$53.0K $20.39/SF

− OpEx

−$13.3K −$5.10/SF

NOI

$39.8K $15.29/SF

Area

Hunterdon 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%

$795,220

Cap Rate 7%

$568,014

Cap Rate 9%

$441,789

Alternative Uses

Best Use

Specialty Retail

$568.0K

$497.0K – $662.7K (±1% cap)

NOI $39,761 @ 7.0% cap · market cap 8.84%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$678.9K

$594.1K – $792.1K (±1% cap)

NOI $47,524 @ 7.0% cap · market cap 10.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Restaurants

Suggested Use

Top Pick Dental Office Auto Parts Store Hair Salon Parking Lot & Garage HVAC Service Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

146

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 08827, NJ

4,531

Population

1,644

Households

2.8

Avg Household Size

46

Median Age

49%

College-Educated

96%

High-School Grad

18.1 sq mi

ZIP Area

250

Density / Sq Mi

$128,589

Median Household Income

$62,695

Median Earnings

$1,223

Median Rent

$428,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Restaurant - 2.2-acre riverfront restaurant property with liquor license for sale.

Where is this restaurant located?

The property is located at 23 Musconetcong River Road Hampton, NJ.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Riverfront property offers a unique opportunity.; Sprawling 2.2 acres of land.; Includes a Class A liquor license.