Boardwalk Restaurant
For Sale
$1,500,000
Pending
1003 Ocean Terrace, Seaside Heights, NJ 08751
Commercial Sale, Seaside Heights, NJ
Property Size7,740 SF
Lot Size0.13 Acres
Days on Market210
Property Features for 1003 Ocean Terrace
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Use, Mixed, Commercial
Rooms
Basement
Parking
1
Parking features
On Street, Off Street
Interior features
Internal Loading, Refrigeration
Exterior features
Lighting
Basement
Walk-Out Access, Full
Lot features
Dead End Street, Oceanfront, Oceanside, Sidewalks, Beachfront, Corner Lot
Directions
Corner of Sheridan Ave and Ocean Terrace.
Subdivision
Seaside Heights
Standard status
Pending
APN
27-00060-0000-00009
Size
7,740 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
30580
Utilities
Sewer type
Public Sewer
Water source
Public
Water front features
Beach Front, Ocean Front
Water front
1
Amenities
basement
offices
walk-ins
storage
prep kitchen
loading bay
signage
Building Details
Year built
1940
Floors in Building
2
Flooring type
Tile, Concrete
Building materials
Block
Roof type
Asphalt, Flat
Listing Agency:
Childers Sotheby's Intl Realty
(732) 793-5500
Listed By:
Jeffrey M Childers · License #0895595
(732) 779-3087
Added: Feb 6
Changed: Sep 4
Last Checked: Sep 4 at 5:06PM
MLS# 22603340
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 7,740-square-foot conventional restaurant building occupies 0.13 acres at 1003 Ocean Terrace. The property includes a basement with offices, three walk-ins, storage, a prep kitchen, and direct access to a loading bay. Existing infrastructure includes gas, electricity, public water, public sewer, ANSUL protection, and a basement-level fire suppression system. Interior features include refrigeration, tile and concrete flooring, and internal loading. The building is constructed of block and has flat and asphalt roofing.
Positioned on the north end of the Seaside Heights Boardwalk with beach and ocean frontage, the property is near Casino Pier and Breakwater Beach. Parking is available both on street and off street. The property is located in the Resort Recreational Zone and may be used in its current configuration or expanded. The current restaurant lease has 3 years remaining. A new roof and signage were installed in 2025.
Positioned on the north end of the Seaside Heights Boardwalk with beach and ocean frontage, the property is near Casino Pier and Breakwater Beach. Parking is available both on street and off street. The property is located in the Resort Recreational Zone and may be used in its current configuration or expanded. The current restaurant lease has 3 years remaining. A new roof and signage were installed in 2025.
Key Highlights
- 7,740‑square‑foot restaurant building on 0.13 acres
- Positioned on the north end of the Seaside Heights Boardwalk with beach and ocean frontage
- Basement includes offices, three walk‑ins, storage, prep kitchen, and direct‑access loading bay
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
$118,366
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
7.89%
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%
$2,367,320
$2.4M
Cap Rate 7%
$1,690,943
$1.7M
Cap Rate 9%
$1,315,178
$1.3M
Market Conditions
NOI Build-Up for 7,740 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
$167.2K $21.60/SF
− Vacancy
−$9.4K −$1.21/SF
EGI
$157.8K $20.39/SF
− OpEx
−$39.5K −$5.10/SF
NOI
$118.4K $15.29/SF
Area
Ocean 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%
$2,367,320
Cap Rate 7%
$1,690,943
Cap Rate 9%
$1,315,178
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,366 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,475 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
7-Eleven
Shops & Services
2,117 visits/mo
0.1 miles
Three Brothers Pizza
Dining
530 visits/mo
0.5 miles
Marathon
Shops & Services
263 visits/mo
0.1 miles
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
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 - Oceanfront restaurant property with a leased operation, commercial infrastructure, and basement support space in the Resort Recreational Zone.
Where is this conventional restaurant located?
The property is located at 1003 Ocean Terrace Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,740‑square‑foot restaurant building on 0.13 acres; Positioned on the north end of the Seaside Heights Boardwalk with beach and ocean frontage; Basement includes offices, three walk‑ins, storage, prep kitchen, and direct‑access loading bay
