Tommy’s Inn Restaurant Business
For Sale
Contact for pricing
568 Monmouth Rd, Millstone, NJ 08510
Restaurant business for sale near Six Flags Great Adventure.
Property Size2,385 SF
Lot Size4.25 Acres
Price / SF$209.22
Days on Market1081
Property Features for 568 Monmouth Rd
General Information
Standard status
Active
Size
2,385 SF
Lot size
4.25 Acres
Property subtype
Business for Sale
Zoning
HC-1 ~ Highway Commercial
Listing Agency:
Stafford Smith Realty
(732) 747-1000
Listed By:
Ray Smith · License #NJ CO-8300337
Source:
Crexi
Added: Aug 25, 2023
Changed: Aug 8
Last Checked: Aug 8 at 11:11AM
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 Stafford Smith Realty
Investment Insights
Based on property information with market context.
A business opportunity to own Tommy’s Inn Restaurant, situated in a 2,385-square-foot, one-story restaurant building on a 4.25-acre lot. The property is located near Six Flags Great Adventure and is surrounded by a mix of established businesses and upcoming developments. The restaurant has septic and well systems. The real estate is not included in the sale; the real estate rent is $5,000 per month, and taxes are $1,000 per month. The liquor license and/or lease with furniture, fixtures, and equipment can be sold separately. The property offers convenient access to Highway 9, Interstate 95, and 195.
Key Highlights
- Established restaurant business opportunity: Tommy’s Inn At Millstone.
- Prime location: 2,385 Sq. Ft. building on 4.25 acres near Six Flags Great Adventure.
- Surrounded by successful businesses and upcoming developments.
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
$36,473
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
7.31%
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%
$729,460
$729.5K
Cap Rate 7%
$521,043
$521.0K
Cap Rate 9%
$405,256
$405.3K
Market Conditions
NOI Build-Up for 2,385 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
$51.5K $21.60/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$48.6K $20.39/SF
− OpEx
−$12.2K −$5.10/SF
NOI
$36.5K $15.29/SF
Area
Somerset 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%
$729,460
Cap Rate 7%
$521,043
Cap Rate 9%
$405,256
Alternative Uses
Best Use
Specialty Retail
$521.0K
$455.9K – $607.9K
NOI $36,473 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.8K
$544.9K – $726.6K
NOI $43,594 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
78k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 26%
Wawa
Shops & Services
49,867 visits/mo
0.4 miles
Taco Bell
Dining
12,748 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
7,842 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,481 visits/mo
0.4 miles
Demographics for 08510, NJ
5,101
Population
1,891
Households
2.7
Avg Household Size
45
Median Age
62%
College-Educated
95%
High-School Grad
17.7 sq mi
ZIP Area
288
Density / Sq Mi
$201,875
Median Household Income
$61,711
Median Earnings
$645,200
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 - Restaurant business for sale near Six Flags Great Adventure.
Where is this conventional restaurant located?
The property is located at 568 Monmouth Rd Millstone, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Established restaurant business opportunity: Tommy’s Inn At Millstone.; Prime location: **2,385 Sq. Ft. building on 4.25 acres near Six Flags Great Adventure.**; Surrounded by successful businesses and upcoming developments.
