Bar and Pub with
For Sale
$975,000
386 E Westfield Ave #386, Roselle Park, NJ 07204
The property combines restaurant operations, a Class C liquor license, and a three-bedroom apartment.
Property Size3,750 SF
Price / SF$260
Days on Market90
Property Features for 386 E Westfield Ave #386
General Information
Standard status
Active
Size
3,750 SF
Total Parking Spaces
7
Property subtype
Commercial
Zoning
Commercial
Restaurant
Seating Capacity
70
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Building Details
Building Size
3,750 SF
Year Built
1950
Stories
2
Units
2
Listing Agency:
Coldwell Banker Realty
(908) 233-5555
Listed By:
Alan A. Rasmussen
Source:
Betterhomerealestate
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 9:06AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 3,750-square-foot bar and restaurant property includes a three-bedroom apartment, a fully equipped kitchen, dining room, and a bar designed for 70 seats. The interior features hand-painted wall murals, while four bathrooms serve the combined restaurant and apartment components. Furniture, fixtures, and equipment are included, along with a Class C Retailers Liquor License.
Located on Westfield Avenue, the property also provides a seven-car parking lot. Building systems include a newer rooftop HVAC unit, and the structure dates to 1950. The offering brings together hospitality space, restaurant equipment, licensed bar operations, and residential accommodation in one commercial property.
Located on Westfield Avenue, the property also provides a seven-car parking lot. Building systems include a newer rooftop HVAC unit, and the structure dates to 1950. The offering brings together hospitality space, restaurant equipment, licensed bar operations, and residential accommodation in one commercial property.
Key Highlights
- 3,750‑square‑foot restaurant and bar with a three‑bedroom apartment
- Bar configured for 70 seats with hand‑painted dining room murals
- Fully equipped kitchen plus included furniture, fixtures, and equipment
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
$57,348
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
5.88%
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%
$1,146,960
$1.1M
Cap Rate 7%
$819,257
$819.3K
Cap Rate 9%
$637,200
$637.2K
Market Conditions
NOI Build-Up for 3,750 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
$81.0K $21.60/SF
− Vacancy
−$4.5K −$1.21/SF
EGI
$76.5K $20.39/SF
− OpEx
−$19.1K −$5.10/SF
NOI
$57.3K $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%
$1,146,960
Cap Rate 7%
$819,257
Cap Rate 9%
$637,200
Alternative Uses
Best Use
Specialty Retail
$819.3K
$716.9K – $955.8K
NOI $57,348 @ 7.0% cap · market cap 5.88%
Second Best
Mixed Use
$707.1K
$618.8K – $825.0K
NOI $49,500 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$979.2K
$856.8K – $1.14M
NOI $68,544 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
90k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Home Improvements & Furnishings 33%
Electronics 5%
Dining 2%
The Home Depot
Home Improvements & Furnishings
29,814 visits/mo
0.3 miles
Dollar Tree
Shops & Services
19,289 visits/mo
0.5 miles
Chase Bank
Shops & Services
10,851 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,464 visits/mo
0.1 miles
AutoZone
Shops & Services
6,026 visits/mo
0.5 miles
Demographics for 07204, NJ
13,984
Population
5,373
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
11,653
Density / Sq Mi
$104,418
Median Household Income
$55,974
Median Earnings
$1,585
Median Rent
$405,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - The property combines restaurant operations, a Class C liquor license, and a three-bedroom apartment.
Where is this bar & pub located?
The property is located at 386 E Westfield Ave #386 Roselle Park, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,750‑square‑foot restaurant and bar with a three‑bedroom apartment; Bar configured for 70 seats with hand‑painted dining room murals; Fully equipped kitchen plus included furniture, fixtures, and equipment
