Building Details

Building Size 6,000 SF

Year Built 1960

Buildings 1

Listing Agency: Benchmark Realty Group LLC

Listed By: Charles Frank Show Phone

Source: Sackmanrealty

Added: Mar 28 Changed: Oct 9 Last Checked: Oct 10 at 1:58AM

Report an Issue

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 Benchmark Realty Group LLC

Investment Insights

Based on property information with market context.

This stand-alone restaurant building at 47 Tennent Road provides 6,000 SF (+-) for a customized final buildout. The interior is prepared for sheetrock and finishing, while rough inspections have been completed and passed. Restaurant approval and open permits are currently in place.

Infrastructure includes 600-amp electrical service, newly installed natural gas, and a 20' commercial hood with full ventilation. A new sprinkler system, manhole connection, upgraded street water line, and valve system have also been completed. The site offers 28 parking spaces, including ADA parking, and the building was constructed in 1960.

Key Highlights

• 6,000 SF (+-) stand‑alone restaurant building
• Restaurant approval and open permits currently in place
• 600‑amp electrical service and newly installed natural gas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,757

Cap Rate

6.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,835,140 $1.8M

Cap Rate 7%

$1,310,814 $1.3M

Cap Rate 9%

$1,019,522 $1.0M

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$129.6K $21.60/SF

− Vacancy

−$7.3K −$1.21/SF

EGI

$122.3K $20.39/SF

− OpEx

−$30.6K −$5.10/SF

NOI

$91.8K $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%

$1,835,140

Cap Rate 7%

$1,310,814

Cap Rate 9%

$1,019,522

Alternative Uses

Best Use

Specialty Retail

$1.31M

$1.15M – $1.53M (±1% cap)

NOI $91,757 @ 7.0% cap · market cap 6.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,670 @ 7.0% cap · market cap 7.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant HVAC Service Big Box & Wholesale Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Sprinkler system

Yes

Utilities to site

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

241

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 07751, NJ

21,493

Population

7,567

Households

2.8

Avg Household Size

42

Median Age

65%

College-Educated

96%

High-School Grad

16.6 sq mi

ZIP Area

1,295

Density / Sq Mi

$172,576

Median Household Income

$86,544

Median Earnings

$2,636

Median Rent

$663,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Flex Space with Warehouse

Morganville, NJ 07751

Contact for pricing

18,000 SF

View details

Renovated Salon Retail Space

479 State Route 79, Morganville, NJ 07751

$120,000

View details

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Standalone restaurant property with completed infrastructure and customizable interior buildout.

Where is this conventional restaurant located?

The property is located at 47 Tennent Road Morganville, NJ.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: 6,000 SF (+-) stand‑alone restaurant building; Restaurant approval and open permits currently in place; 600‑amp electrical service and newly installed natural gas