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    Turnkey Restaurant with Bar, Patio Title is generated by Realmo AI

    535 Central Ave, New Providence, NJ 07974

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    Claim this Listing
    For Sale
    $450,000

    Business - New Providence Boro, NJ

    Property size:
    2,880 SF
    Price / SF:
    $156/SF
    Added:
    Oct 7, 2025
    Days on Market:
    229
    Last Refresh:
    May 23 at 7:06 pm

    Property Features for 535 Central Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMM
    Rooms
    Basement
    Parking features
    Parking Lot
    Basement Y/N
    1
    Standard status
    Active
    Size
    2,880 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    JAMES BACZEWSKI

    Listing agent JAMES BACZEWSKI

    Listing office WERNER REALTY 1465 UNION VALLEY ROAD, West Milford, NJ

    Listing date Oct 7, 2025

    MLS# 3991185 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Attached to a hotel, providing access to hotel guest traffic.
    • Turnkey and recently updated, offering a move‑in ready restaurant space.
    • High visibility and easy access from the highway.
    • Includes a banquet room that can accommodate up to 120 guests.
    • Offers a total of 103 indoor seats (bar and dining) and 50 outdoor seats.
    • Features a brand‑new patio.

    Overview

    This well-maintained and recently updated restaurant is move-in ready and features excellent highway visibility and easy access. The property includes 18 bar seats, 85 indoor dining seats, and a new patio with 50 outdoor seats. A spacious banquet room can accommodate up to 120 guests. The 2,880 square-foot property is attached to a hotel, making it suitable for capturing both local and traveler traffic. The property is located in New Providence Boro, Union County, New Jersey and is zoned COMM. This turnkey restaurant with bar, patio and banquet room offers potential for growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Beyond Delicious Catering LLC — 41 Spring St, New Providence, NJ 07974

    Location Insight

    • Map
    • Local Demand
    City
    New Providence
    County
    Union
    State
    New Jersey
    Longitude
    -74.4025983
    Latitude
    40.6982867

    Nearby Similar for Sale

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      Turnkey Restaurant in New Providence

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    • $1,500,000
      4,216 SF

      Renovated Mixed-Use Trophy Property

      Renovated 3,800 SF mixed-use property near NP train station.
      82 Floral Ave, New Providence Boro, NJ 07974
      View Details
    • $950,000

      Well-Maintained Two-Unit Home

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      166 1st St, New Providence, NJ 07974
      View Details

    FAQs

    What type of property is this?
    Restaurant - Updated restaurant with bar, patio, and banquet room connected to hotel.
    Where is this restaurant located?
    The property is located at 535 Central Ave New Providence, NJ.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Attached to a hotel, providing access to hotel guest traffic.; Turnkey and recently updated, offering a move‑in ready restaurant space.; High visibility and easy access from the highway.
    (973) 657-9222
    We can help!
    Listing Contact
    JAMES BACZEWSKI
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    535 Central Ave, New Providence Boro, NJ 07974-1561
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