Turnkey Sports Bar and
For Sale
$999,999
Pending
29 Mill St, Mount Holly, NJ 08060
Fully equipped sports bar and restaurant with liquor license included.
Property Size6,560 SF
Lot Size0.13 Acres
Days on Market695
Property Features for 29 Mill St
General Information
Standard status
Pending
Size
6,560 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,843
Amenities
Corner
Building Details
Year Built
1900
Listing Agency:
WEICHERT REALTORS - PRINCETON
(609) 921-1900
Listed By:
NATALIE SCHANNE · License #1647304
Source:
Corcoran
Added: Sep 14, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:33AM
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 - PRINCETON
Investment Insights
Based on property information with market context.
This is a 6,560 square foot, two-story corner property in the historic downtown business district of Mount Holly, New Jersey. The property is located near a popular bar and restaurant row on High Street and Mill Street, adjacent to Rowan Culinary Arts School, and close to public, private, and street parking. The fully built-out bar and restaurant includes a liquor license and has two bar areas with seating for up to 294 patrons. The main level features a double-sided bar suitable for 200+ patrons, while the upstairs bar is ideal for private parties of 30-60+ people. A rooftop deck offers seating for 30+ people. The kitchen is stocked with over $100,000 in restaurant supplies, high-quality cooking appliances, warmers, two walk-in coolers, and one walk-in freezer. The bar areas are equipped with plumbing, keg distribution equipment, and TVs for sports viewing. The main floor includes an elevated platform/stage for live music or performances, a pool table, and 16+ four-seat dining tables with chairs. There are four bathrooms with 7+ fixtures. The property has three exterior entrances: Mill Street, Paxton Street, and a delivery door on Paxton Street. The Paxton Street entrance includes an area for to-go alcohol sales from front-loading refrigerators, tobacco, and lotto tickets. Upstairs, there is a medium-sized private office area and a full bathroom with a shower, which could potentially be converted into a 1-2 bedroom apartment per zoning. The main floor also has an office near the kitchen. The property is located near new Cannabis Shops, and presents a potential opportunity for a brewery. It has easy access to I-95, NJ Turnpike, and Routes 130 and 38 to Philadelphia.
Key Highlights
- Includes a valuable liquor license, a significant asset.
- Turnkey operation with fully built‑out bar and restaurant, including over $100k in restaurant supplies and high‑quality appliances.
- Prime corner location in a popular bar and restaurant district with ample parking nearby.
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
$84,575
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
8.46%
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%
$1,691,500
$1.7M
Cap Rate 7%
$1,208,214
$1.2M
Cap Rate 9%
$939,722
$939.7K
Market Conditions
NOI Build-Up for 6,560 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
$118.1K $18.00/SF
− Vacancy
−$5.3K −$0.81/SF
EGI
$112.8K $17.19/SF
− OpEx
−$28.2K −$4.30/SF
NOI
$84.6K $12.89/SF
Area
Burlington County, NJ
Vacancy
4.50%
Lease Rate
$18.00 /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%
$1,691,500
Cap Rate 7%
$1,208,214
Cap Rate 9%
$939,722
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,575 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$13.72M
$12.01M – $16.01M
NOI $960,408 @ 7.0% cap · market cap 96.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
4,969 visits/mo
0.2 miles
Demographics for 08060, NJ
25,426
Population
10,198
Households
2.5
Avg Household Size
38
Median Age
38%
College-Educated
96%
High-School Grad
21.6 sq mi
ZIP Area
1,177
Density / Sq Mi
$107,165
Median Household Income
$59,035
Median Earnings
$1,619
Median Rent
$292,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Local Lounge — 66 High St, Mt Holly, NJ 08060
- Train Wreck Distillery — 25 Madison Ave, Mt Holly, NJ 08060
- The Union Firehouse — 18 Washington St, Mt Holly, NJ 08060
- Village Idiot Brewing Company — 42 High St, Mt Holly, NJ 08060
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully equipped sports bar and restaurant with liquor license included.
Where is this bar & pub located?
The property is located at 29 Mill St Mount Holly, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Includes a valuable liquor license, a significant asset.; Turnkey operation with fully built‑out bar and restaurant, including over $100k in restaurant supplies and high‑quality appliances.; Prime corner location in a popular bar and restaurant district with ample parking nearby.
