Turnkey Corner Restaurant
For Sale
Contact for pricing
339 South Avenue W, Westfield, NJ 07090
Turnkey breakfast and lunch restaurant with seating, counter service, and a well-equipped kitchen plus outdoor option.
Property Size1,000 SF
Price / SF$299
Days on Market54
Property Features for 339 South Avenue W
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Business for Sale, Retail
Additional Details
Business Included
Yes
Listing Agency:
KELLER WILLIAMS ELITE REALTORS
(732) 549-1998
Listed By:
AMIRA IBRAHIM
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 10 at 3:55PM
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 KELLER WILLIAMS ELITE REALTORS
Investment Insights
Based on property information with market context.
This is a running, owner-operated breakfast and lunch restaurant offered as a takeover opportunity. The space includes approximately 1,000 square feet of seating, counter, and kitchen area, along with an additional approximately 750 square feet in the basement for storage and a vegetable cooler. The property features a high-visibility glass facade as a corner building, with about 40 inside seats and about 10 outside. The kitchen and equipment are described as meticulously maintained, and training can be provided during the handover period. Staff is also available to support the transition.
The restaurant is positioned at a busy intersection opposite the Westfield Train Station. The public remarks note ample parking and convenient proximity to public transport, supporting easy customer access for walk-in and takeout business.
For an operator seeking a ready-to-run breakfast and lunch concept, this layout provides both customer service areas and dedicated back-of-house capacity for storage and cooler needs. With a maintained kitchen setup and staff-in-place, the new ownership can focus on continuity of service during and after the takeover period, with dinner service noted as recently paused by the seller.
The restaurant is positioned at a busy intersection opposite the Westfield Train Station. The public remarks note ample parking and convenient proximity to public transport, supporting easy customer access for walk-in and takeout business.
For an operator seeking a ready-to-run breakfast and lunch concept, this layout provides both customer service areas and dedicated back-of-house capacity for storage and cooler needs. With a maintained kitchen setup and staff-in-place, the new ownership can focus on continuity of service during and after the takeover period, with dinner service noted as recently paused by the seller.
Key Highlights
- Owner‑operated breakfast/lunch restaurant at a busy intersection opposite Westfield Train Station
- About 1,000 sq ft seating, counter, and kitchen area
- About 750 sq ft basement with ample storage and vegetable cooler
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
$15,293
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%
$305,860
$305.9K
Cap Rate 7%
$218,471
$218.5K
Cap Rate 9%
$169,922
$169.9K
Market Conditions
NOI Build-Up for 1,000 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
$21.6K $21.60/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$20.4K $20.39/SF
− OpEx
−$5.1K −$5.10/SF
NOI
$15.3K $15.29/SF
Area
Union 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%
$305,860
Cap Rate 7%
$218,471
Cap Rate 9%
$169,922
Alternative Uses
Best Use
Specialty Retail
$218.5K
$191.2K – $254.9K
NOI $15,293 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,471
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Stop & Shop
Groceries
22,563 visits/mo
0.4 miles
Demographics for 07090, NJ
31,056
Population
11,093
Households
2.8
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
4,635
Density / Sq Mi
$212,700
Median Household Income
$106,123
Median Earnings
$2,211
Median Rent
$930,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Bagel Chateau — 223 South Avenue E, Westfield, NJ 07090
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Turnkey breakfast and lunch restaurant with seating, counter service, and a well-equipped kitchen plus outdoor option.
Where is this breakfast & diner located?
The property is located at 339 South Avenue W Westfield, 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: Owner‑operated breakfast/lunch restaurant at a busy intersection opposite Westfield Train Station; About 1,000 sq ft seating, counter, and kitchen area; About 750 sq ft basement with ample storage and vegetable cooler
