Multi-Tenant Retail and Restaurant
For Sale
$1,250,000
533 Highland Ave, Westville, NJ 08096
On-site restaurant and antique store anchor a multi-unit building, with space on the second floor previously configured as apartments.
Property Size9,000 SF
Price / SF$138.89
Days on Market366
Property Features for 533 Highland Ave
General Information
Standard status
Active
Size
9,000 SF
Additional Details
Business Included
Yes
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
HomeSmart First Advantage Realty
(856) 363-3000
Listed By:
Hakan Karahan · License #9693664
(856) 363-3000
Source:
Exprealty
Added: Aug 5, 2025
Changed: Jul 10
Last Checked: Jul 31 at 1:46PM
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 HomeSmart First Advantage Realty
Investment Insights
Based on property information with market context.
This commercial building totals approximately 9,000 square feet and is set up for multiple tenants. The first floor contains three units, including space currently used by an antique store and a restaurant. The second floor has been used as apartments in the past, with the layout previously supporting three separate apartment units, and it can be converted back to that use.
The property is located at 533 Highland Ave in Westville, NJ. Public remarks indicate it is currently operated with multiple tenants, including the restaurant and antique store on site.
For buyers and operators, the configuration supports a retail-forward first floor with food and general retail uses already present. The second-floor arrangement offers flexibility for an owner considering a return to residential apartments, or for repurposing that level to align with a tenant mix. The multi-unit setup can also appeal to those looking for a single ownership structure that includes both restaurant and retail operations within the same building.
The property is located at 533 Highland Ave in Westville, NJ. Public remarks indicate it is currently operated with multiple tenants, including the restaurant and antique store on site.
For buyers and operators, the configuration supports a retail-forward first floor with food and general retail uses already present. The second-floor arrangement offers flexibility for an owner considering a return to residential apartments, or for repurposing that level to align with a tenant mix. The multi-unit setup can also appeal to those looking for a single ownership structure that includes both restaurant and retail operations within the same building.
Key Highlights
- Commercial building with multiple tenants, including an on‑site restaurant and antique store
- About 9,000 total SF of building space
- First floor includes 3 units: two currently used by the antique store and one restaurant unit
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.4k | $17.04 |
| − Vacancy | −$7.8k | −$0.87 |
| EGI | $145.5k | $16.17 |
| − OpEx | −$43.7k | −$4.85 |
| NOI | $101.9k | $11.32 |
9,000 SF · lease $17.04/SF/yr · vacancy 5.10% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.65M
$1.44M – $1.92M
NOI $115,304 @ 7.0% cap · market cap 9.22%
Second Best
Retail
$1.46M
$1.27M – $1.70M
NOI $101,877 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $211,768 @ 7.0% cap · market cap 16.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08096, NJ
36,355
Population
15,013
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
13.9 sq mi
ZIP Area
2,615
Density / Sq Mi
$89,483
Median Household Income
$49,480
Median Earnings
$1,446
Median Rent
$248,400
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?
Conventional restaurant - On-site restaurant and antique store anchor a multi-unit building, with space on the second floor previously configured as apartments.
Where is this conventional restaurant located?
The property is located at 533 Highland Ave Westville, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Commercial building with multiple tenants, including an on‑site restaurant and antique store; About 9,000 total SF of building space; First floor includes 3 units: two currently used by the antique store and one restaurant unit
