Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    240 Main St Fort Lee, NJ 07024

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $299,000

    Well-established chicken restaurant with outdoor seating and low rent.

    Property Features for 240 Main St

    General Information

    Standard status
    Contract

    We can help!

    Listing Contact
    Woohwa Jung
    Source: Corcoran

    Listing Agency: KINGSTONE REALTY LLC Listing Agent: Woohwa Jung

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Established Restaurant on Main Street

    This well-established chicken restaurant is centrally located on Main Street in Fort Lee. The business has been successfully operated by the owner for 10 years. The property features low rent, including taxes. Indoor tables are available, and outdoor seating is permitted by the town. This business presents great potential for future growth.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lee
    County
    Bergen
    State
    New Jersey
    Longitude
    -73.9718455
    Latitude
    40.8516324

    Nearby Similar for Sale

    • $1,550,000

      Large Home with In-Law Suite

      Large home with in-law suite, perfect for professionals.
      209 Tremont Ave, Fort Lee, NJ 07024
      View Details
    • $1,299,000
      0.12 Acres

      Two-Family Property in Desirable Location

      Two-unit property near shops, schools, and transportation.
      2455 3Rd St, Fort Lee, NJ 07024
      View Details
    • $1,299,000

      Two-Family Home in Fort Lee

      Two-family property near Fort Lee and Englewood Cliffs border.
      2455 3Rd St, Fort Lee, NJ 07024
      View Details
    • $1,747,000
      2,465 SF

      Spacious Ranch with Private Pool

      Single-family ranch in desirable Fort Lee neighborhood, near NYC.
      1070 Cumbermeade Rd, Fort Lee, NJ 07024
      View Details
    • $5,900,000

      New Office Building For Sale

      Brand new office building on Palisade Ave, Fort Lee.
      1310 Palisade Ave, Fort Lee, NJ 07024
      View Details
    • $328,000

      Established Restaurant in Urban Area

      Well-equipped restaurant suitable for diverse groups in urban area.
      1357 16Th St, Fort Lee, NJ 07024
      View Details
    • $380,000

      Prime Fort Lee Professional Space

      1,500 sqft professional space in a high-traffic Fort Lee location.
      1323 Anderson Ave, Fort Lee, NJ 07024
      View Details
    • $888,000

      Restaurant Space in Hudson Lights

      Equipped restaurant space in high-traffic Fort Lee location.
      2060 Hudson St, Fort Lee, NJ 07024
      View Details
    • $1,450,000

      Commercial Building on Route 46

      Commercial building with high traffic and parking on Route 46.
      1666 Bergen Blvd, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Cash Flowing Investment Opportunity

      Key money investment with tenants in place for immediate cashflow.
      200 Main St, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Fully Leased Retail/Office Investment Property

      Freestanding commercial building in Fort Lee, NJ, fully leased.
      1618 Parker Ave, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Established Pet Grooming Business

      Turnkey pet grooming business in high-traffic Fort Lee shopping plaza.
      1475 Bergen Blvd, Fort Lee, NJ 07024
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Well-established chicken restaurant with outdoor seating and low rent.
    Where is this conventional restaurant located?
    The property is located at 240 Main St Fort Lee, NJ.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Centrally located on Main Street in Fort Lee.; - Low rent, including taxes.; - Established business with 10 years of successful operation.
    (201) 313-1002
    Request Owner's contact information
    240 Main St Fort Lee, NJ 07024
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    240 Main St
    Fort Lee, NJ 07024
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 Main St Fort Lee, NJ 07024
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Woohwa Jung
    (201) 313-1002 (201) 658-5206
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!