Restaurant and Bar with
For Sale
$975,000
386 E Westfield Ave, Roselle Park, NJ 07204
Fully equipped restaurant and bar with a three-bedroom apartment and capacity for 70 seats, plus on-site parking.
Property Size3,750 SF
Price / SF$260
Days on Market69
Property Features for 386 E Westfield Ave
General Information
Standard status
Active
Size
3,750 SF
Total Parking Spaces
7
Property subtype
Commercial
Additional Details
Business Included
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$13,303
Amenities
Central air
Asphalt Shingle Roof
1 Unit Cooling
2 Units Heating
Blacktop Driveway
Central Air Cooling
Off-Street Parking
On-Street Parking
Parking Lot-Exclusive
Wall A/C Unit(s) Cooling
Building Details
Year Built
1950
Listing Agency:
COLDWELL BANKER REALTY
(908) 233-5555
Listed By:
ALAN A. RASMUSSEN
Source:
Corcoran
Added: Jun 2
Changed: Aug 8
Last Checked: Jun 4 at 1:52AM
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 for-sale restaurant and bar property includes approximately 3,750 square feet and comes with the furniture, fixtures, and equipment included. The space is built around a dining room with hand-painted wall murals and a full bar with seating capacity for 70. The offering also includes a fully equipped kitchen, along with four bathrooms total, split between the restaurant and the apartment.
The property features a newer rooftop HVAC system and includes a 7-car parking lot. A Class C retailers liquor license is included with the sale.
The layout supports dual use as an operating restaurant/bar with an attached three-bedroom apartment, creating on-site living while maintaining a commercial concept. With the kitchen, bar, dining room, and liquor license already in place, the space is well-suited for an operator looking to open with minimal buildout and to combine business and residential needs in one purchase.
The property features a newer rooftop HVAC system and includes a 7-car parking lot. A Class C retailers liquor license is included with the sale.
The layout supports dual use as an operating restaurant/bar with an attached three-bedroom apartment, creating on-site living while maintaining a commercial concept. With the kitchen, bar, dining room, and liquor license already in place, the space is well-suited for an operator looking to open with minimal buildout and to combine business and residential needs in one purchase.
Key Highlights
- 3,750 SF restaurant/bar plus a spacious 3‑bedroom apartment
- Restaurant features include a dining room with hand‑painted wall murals and a 70‑seat bar
- Fully equipped kitchen and includes 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
—
—
no second resolved use
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
Turnkey business
Opportunity
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 - Fully equipped restaurant and bar with a three-bedroom apartment and capacity for 70 seats, plus on-site parking.
Where is this bar & pub located?
The property is located at 386 E Westfield Ave 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 SF restaurant/bar plus a spacious 3‑bedroom apartment; Restaurant features include a dining room with hand‑painted wall murals and a 70‑seat bar; Fully equipped kitchen and includes furniture, fixtures, and equipment
