Korean BBQ Restaurant with Ice
New
For Sale
$490,000
349 Matawan, Matawan, NJ 07747
The restaurant combines dine-in seating with takeout, delivery, catering, bubble tea, and ice cream service.
Property Size1,250 SF
Price / SF$392
Days on Market4
Property Features for 349 Matawan
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Seating Capacity
90
Amenities
Central Air Heating
Gas Heating
Listing Agency:
PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY-ENGLEWOOD CLIFFS
(201) 585-8080
Listed By:
YVONNE CHUNG
(201) 220-2207
Source:
Corcoran
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:02AM
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 PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY-ENGLEWOOD CLIFFS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
ONO Korean BBQ is an operating restaurant in a shopping plaza in Matawan, New Jersey. The approximately 1,250-square-foot space seats up to 90 guests and includes a fully equipped kitchen, 11 refrigerators, an ice cream machine, and storage. The menu and services include Korean BBQ, bubble tea, ice cream, catering, takeout, and delivery.
The property is located at 349 Matawan and has access to plaza parking. The restaurant’s existing service mix spans on-premises dining and off-site orders, with catering also offered.
The property is located at 349 Matawan and has access to plaza parking. The restaurant’s existing service mix spans on-premises dining and off-site orders, with catering also offered.
Key Highlights
- Approximately 1,250 SF with seating for up to 90 guests
- Restaurant equipment includes 11 refrigerators and an ice cream machine
- Offers Korean BBQ, bubble tea, ice cream, catering, takeout, and delivery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,116
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,320
$382.3K
Cap Rate 7%
$273,086
$273.1K
Cap Rate 9%
$212,400
$212.4K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$27.0K $21.60/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$25.5K $20.39/SF
− OpEx
−$6.4K −$5.10/SF
NOI
$19.1K $15.29/SF
Area
Monmouth 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 Rate 5%
$382,320
Cap Rate 7%
$273,086
Cap Rate 9%
$212,400
Alternative Uses
Best Use
Specialty Retail
$273.1K
$239.0K – $318.6K
NOI $19,116 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.4K
$285.6K – $380.8K
NOI $22,848 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07747, NJ
31,915
Population
13,134
Households
2.4
Avg Household Size
43
Median Age
51%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
2,493
Density / Sq Mi
$124,896
Median Household Income
$61,503
Median Earnings
$1,840
Median Rent
$464,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The restaurant combines dine-in seating with takeout, delivery, catering, bubble tea, and ice cream service.
Where is this conventional restaurant located?
The property is located at 349 Matawan Matawan, NJ.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Approximately 1,250 SF with seating for up to 90 guests; Restaurant equipment includes 11 refrigerators and an ice cream machine; Offers Korean BBQ, bubble tea, ice cream, catering, takeout, and delivery
