Freestanding Corner Restaurant
For Sale
$749,900
Pending
383 E Main St, Denville, NJ 07834
Freestanding corner restaurant building with dedicated parking and included kitchen infrastructure for immediate restaurant operations.
Property Size1,614 SF
Days on Market95
Property Features for 383 E Main St
General Information
Standard status
Pending
Size
1,614 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,925
Building Details
Building Size
1,614 SF
Year Built
1960
Stories
2
Units
1
Listed By:
MICHELLE M. ADAMS
Source:
Elliman
Added: Jun 3
Changed: Aug 15
Last Checked: Sep 4 at 3:33PM
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 MICHELLE M. ADAMS
Investment Insights
Based on property information with market context.
This freestanding commercial building is currently operating as a restaurant grill. The sale includes all trade fixtures, furniture, equipment, and kitchen infrastructure, supporting straightforward continuity for a qualified operator. The property also features a flexible layout intended to accommodate a range of commercial uses, subject to township approvals.
The building sits on a prominent corner lot positioned along a busy business corridor, providing strong street presence and easy access from multiple directions. The site offers ample dedicated off-street parking, a practical advantage for customer convenience, staff access, and deliveries in a downtown-area setting. While bike and walk scores indicate moderate alternative access, the property also offers commuter connectivity with access to the Denville and Mt Tabor Train Stations within a half mile.
For buyers or restaurant operators, the included equipment and kitchen infrastructure reduce the need for major initial build-out for continued food service use. For other prospective tenants and buyers, the flexible layout may support different commercial concepts, subject to township approvals.
The building sits on a prominent corner lot positioned along a busy business corridor, providing strong street presence and easy access from multiple directions. The site offers ample dedicated off-street parking, a practical advantage for customer convenience, staff access, and deliveries in a downtown-area setting. While bike and walk scores indicate moderate alternative access, the property also offers commuter connectivity with access to the Denville and Mt Tabor Train Stations within a half mile.
For buyers or restaurant operators, the included equipment and kitchen infrastructure reduce the need for major initial build-out for continued food service use. For other prospective tenants and buyers, the flexible layout may support different commercial concepts, subject to township approvals.
Key Highlights
- Freestanding commercial building built in 1960 on a prominent corner lot with strong street presence
- Includes all trade fixtures, furniture, equipment, and kitchen infrastructure for restaurant operations
- Dedicated off‑street parking for customer and delivery convenience
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
$24,683
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
3.29%
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%
$493,660
$493.7K
Cap Rate 7%
$352,614
$352.6K
Cap Rate 9%
$274,256
$274.3K
Market Conditions
NOI Build-Up for 1,614 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
$34.9K $21.60/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$32.9K $20.39/SF
− OpEx
−$8.2K −$5.10/SF
NOI
$24.7K $15.29/SF
Area
Morris 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%
$493,660
Cap Rate 7%
$352,614
Cap Rate 9%
$274,256
Alternative Uses
Best Use
Specialty Retail
$352.6K
$308.5K – $411.4K
NOI $24,683 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$421.4K
$368.8K – $491.7K
NOI $29,501 @ 7.0% cap · market cap 3.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 19%
Dollar Tree
Shops & Services
16,174 visits/mo
0.3 miles
TD Bank
Shops & Services
4,862 visits/mo
0.3 miles
Dunkin' Donuts
Dining
4,826 visits/mo
0.3 miles
Demographics for 07834, NJ
17,966
Population
7,122
Households
2.5
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
11.6 sq mi
ZIP Area
1,549
Density / Sq Mi
$162,644
Median Household Income
$76,968
Median Earnings
$1,707
Median Rent
$552,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Caffe Delhi — 276 E Main St, Denville, NJ 07834
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding corner restaurant building with dedicated parking and included kitchen infrastructure for immediate restaurant operations.
Where is this conventional restaurant located?
The property is located at 383 E Main St Denville, NJ.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Freestanding commercial building built in 1960 on a prominent corner lot with strong street presence; Includes all trade fixtures, furniture, equipment, and kitchen infrastructure for restaurant operations; Dedicated off‑street parking for customer and delivery convenience
