Waterfront Mixed-Use
For Sale
Contact for pricing
97 SAND SHORE RD, Budd Lake, NJ 07828
Ground-floor restaurant space includes a built-out kitchen, lake views, and a private outdoor deck.
Property Size3,000 SF
Price / SF$396.67
Days on Market124
Property Features for 97 SAND SHORE RD
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
L- Lake Zone
Investment Type
Owner/User
Additional Details
Floor
Ground
Patio
Yes
Amenities
private outdoor deck
Building Details
Year Built
2023
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
KW Commercial
Listed By:
Jason Trembicki · License #NJ
Source:
Crexi
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 9:00PM
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 KW Commercial
Investment Insights
Based on property information with market context.
Built in 2023, this 3,000-square-foot mixed-use property contains two units arranged for commercial and residential use. The ground level is configured as restaurant space with a built-out kitchen, dining area, lake-facing views, and a private outdoor deck. Above, a loft-style apartment offers three bedrooms, two bathrooms, oversized windows, and direct water views.
The offering also includes a second lot across the street that provides parking. Deeded water rights are included and support marina use, subject to applicable approvals. The property is located within the L-Lake Zone and combines waterfront restaurant improvements with an upper-level residential unit.
The offering also includes a second lot across the street that provides parking. Deeded water rights are included and support marina use, subject to applicable approvals. The property is located within the L-Lake Zone and combines waterfront restaurant improvements with an upper-level residential unit.
Key Highlights
- 3,000‑square‑foot mixed‑use building completed in 2023
- Two‑unit configuration with restaurant space and a 3‑bedroom apartment
- Ground‑floor restaurant includes a built‑out kitchen and private outdoor deck
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
$46,134
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
3.88%
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%
$922,680
$922.7K
Cap Rate 7%
$659,057
$659.1K
Cap Rate 9%
$512,600
$512.6K
Market Conditions
NOI Build-Up for 3,000 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
$90.0K $30.00/SF
− Vacancy
−$6.1K −$2.04/SF
EGI
$83.9K $27.96/SF
− OpEx
−$37.7K −$12.58/SF
NOI
$46.1K $15.38/SF
Area
Morris County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$922,680
Cap Rate 7%
$659,057
Cap Rate 9%
$512,600
Alternative Uses
Best Use
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,134 @ 7.0% cap · market cap 3.88%
Second Best
Specialty Retail
$655.4K
$573.5K – $764.6K
NOI $45,878 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Days Inn Budd Lake
Hotels & Casinos
1,251 visits/mo
0.5 miles
Demographics for 07828, NJ
14,473
Population
5,970
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
1,019
Density / Sq Mi
$96,989
Median Household Income
$57,074
Median Earnings
$1,483
Median Rent
$433,200
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?
Mixed-use property - Ground-floor restaurant space includes a built-out kitchen, lake views, and a private outdoor deck.
Where is this mixed-use property located?
The property is located at 97 SAND SHORE RD Budd Lake, NJ.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 3,000‑square‑foot mixed‑use building completed in 2023; Two‑unit configuration with restaurant space and a 3‑bedroom apartment; Ground‑floor restaurant includes a built‑out kitchen and private outdoor deck
