Turnkey Bar and Residential
For Sale
$995,000
299 Smith St, Perth Amboy, NJ 08861
Sale includes a well-established bar business, liquor license #33, and a spacious 4-bedroom apartment.
Property Size3,304 SF
Price / SF$301.15
Days on Market46
Property Features for 299 Smith St
General Information
Standard status
Active
Size
3,304 SF
Additional Details
Business Included
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$11,210
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
ENRIQUE HERNANDEZ
Source:
Exprealty
Added: Jun 29
Changed: Aug 8
Last Checked: Aug 12 at 12:05PM
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 PETRA BEST REALTY LLC
Investment Insights
Based on property information with market context.
This turnkey offering combines commercial real estate and an established bar business, La Vega Bar, with a long track record and a loyal customer base. The sale includes liquor license #33 and a spacious 4-bedroom apartment, providing flexibility for owner occupancy or additional rental income.
The property is located at 299 Smith St in Perth Amboy, NJ, and is being offered as a single package sale with the business and real estate included.
In addition to the bar, the included residential component is a 4-bedroom apartment, which can support either live-in use or income generation alongside the operating business.
The property is located at 299 Smith St in Perth Amboy, NJ, and is being offered as a single package sale with the business and real estate included.
In addition to the bar, the included residential component is a 4-bedroom apartment, which can support either live-in use or income generation alongside the operating business.
Key Highlights
- Sale includes a well‑established La Vega Bar business with a loyal customer base
- Includes liquor license #33
- Commercial real estate included in the sale
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
$50,809
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
5.11%
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%
$1,016,180
$1.0M
Cap Rate 7%
$725,843
$725.8K
Cap Rate 9%
$564,544
$564.5K
Market Conditions
NOI Build-Up for 3,304 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
$99.1K $30.00/SF
− Vacancy
−$6.7K −$2.04/SF
EGI
$92.4K $27.96/SF
− OpEx
−$41.6K −$12.58/SF
NOI
$50.8K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,016,180
Cap Rate 7%
$725,843
Cap Rate 9%
$564,544
Alternative Uses
Best Use
Apartment 5plus
$725.8K
$635.1K – $846.8K
NOI $50,809 @ 7.0% cap · market cap 5.11%
Second Best
Specialty Retail
$721.8K
$631.6K – $842.1K
NOI $50,527 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$862.7K
$754.9K – $1.01M
NOI $60,392 @ 7.0% cap · market cap 6.07%
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
1,628
Businesses Nearby
53k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Electronics 10%
Dining 7%
Apparel 6%
PNC Bank
Shops & Services
13,747 visits/mo
0.3 miles
Chase Bank
Shops & Services
12,006 visits/mo
0.3 miles
Dollar General
Shops & Services
6,535 visits/mo
0.4 miles
BP
Shops & Services
4,582 visits/mo
0.4 miles
Dunkin' Donuts
Dining
3,797 visits/mo
0.3 miles
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- La Playita Sports Bar — 96-98 2nd St, Perth Amboy, NJ 08861
- La Vega Bar — 299 Smith St, Perth Amboy, NJ 08861
- New Rainbow Bar & Liquor — Perth Amboy, NJ 08861
- Jass Restaurant & Lounge — 270 Madison Ave, Perth Amboy, NJ 08861
- Cacheo Sport Bar — Davidson St, Perth Amboy, NJ 08861
Frequently Asked Questions
What type of property is this?
Bar & Pub - Sale includes a well-established bar business, liquor license #33, and a spacious 4-bedroom apartment.
Where is this bar & pub located?
The property is located at 299 Smith St Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Sale includes a well‑established La Vega Bar business with a loyal customer base; Includes liquor license #33; Commercial real estate included in the sale
