Restaurant Building with Build-Out
For Sale
$1,400,000
47 Tennent Road, Morganville, NJ 07751
COMMERCIAL - Morganville, NJ
Property Size6,000 SF
Lot Size0.81 Acres
Price / SF$233.33
Days on Market155
Property Features for 47 Tennent Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Residential, Professional
Parking
30
Parking features
Open
Security features
Security System
Interior features
Handicapped, Refrigeration
Exterior features
Lighting
Basement
Crawl Space
Accessibility
Accessible Approach with Ramp
Directions
79 to Tennent Road
Subdivision
Morganville
Standard status
Active
APN
30-00149-0000-00002
Size
6,000 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15931
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Tile, Wood
Building materials
Stone, Block, Stucco
Roof type
Shingle
Listing Agency:
Benchmark Realty Group LLC
(732) 440-9663
Listed By:
Charles Frank
(732) 440-9663
Added: Mar 28
Changed: Aug 10
Last Checked: Aug 29 at 5:06AM
MLS# 22608246
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This stand-alone restaurant property contains approximately 6,000 square feet on a 0.81-acre site. The building is under construction and prepared for the next phase of work, with rough inspections completed and passed. The interior is ready for sheetrock and final buildout, supporting a customized owner-occupied or restaurant configuration. Existing improvements include a 20' commercial hood with full ventilation, refrigeration, tile and wood flooring, central air, forced-air heating, and accessible ramp approach.
Infrastructure includes 600-amp electrical service, newly installed natural gas, a new sprinkler system with manhole connection, upgraded street water line, and valve system. The property has public water and public sewer, open parking with 28 spaces including ADA parking, and open permits in place for restaurant use. Located at 47 Tennent Road in Morganville, New Jersey, the building was constructed in 1960 and features stone, block, and stucco exterior materials.
Infrastructure includes 600-amp electrical service, newly installed natural gas, a new sprinkler system with manhole connection, upgraded street water line, and valve system. The property has public water and public sewer, open parking with 28 spaces including ADA parking, and open permits in place for restaurant use. Located at 47 Tennent Road in Morganville, New Jersey, the building was constructed in 1960 and features stone, block, and stucco exterior materials.
Key Highlights
- Approximately 6,000 SF restaurant building on a 0.81‑acre site
- 600‑amp electrical service and newly installed natural gas
- 20' commercial hood with full ventilation
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
$91,757
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
6.55%
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%
$1,835,140
$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
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
$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 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%
$1,835,140
Cap Rate 7%
$1,310,814
Cap Rate 9%
$1,019,522
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
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
NOI $109,670 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Stand-alone restaurant property with upgraded infrastructure, open permits, and an interior ready for final customization.
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: Approximately 6,000 SF restaurant building on a 0.81‑acre site; 600‑amp electrical service and newly installed natural gas; 20' commercial hood with full ventilation
