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    Seaside Heights Boardwalk Commercial Building Title is generated by Realmo AI

    1003 Ocean Terrace, Seaside Heights, NJ 08751

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    Claim this Listing
    Pending
    $1,500,000

    COMMERCIAL - Seaside Heights, NJ

    Property size:
    7,740 SF
    Lot size:
    0.13 Acres
    Added:
    Feb 6, 2026
    Days on Market:
    106
    Last Refresh:
    May 23 at 2:06 am

    Property Features for 1003 Ocean Terrace

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking
    1
    Parking features
    On Street, Off Street
    Interior features
    Internal Loading, Refrigeration
    Exterior features
    Lighting
    Basement
    Walk-Out Access, Full
    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
    Ocean Front, Beach Front
    Water front
    1

    Building Details

    Year built
    1940
    Floors in Building
    2
    Flooring type
    Concrete, Tile
    Building materials
    Block
    Roof type
    Flat, Asphalt

    We can help!

    Listing Contact
    Jeffrey M Childers

    Listing agent Jeffrey M Childers License #0895595

    Listing office Childers Sotheby's Intl Realty 554 Route 35 N, Normandy Beach, NJ

    Listing date Feb 6, 2026

    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.

    HighLights

    • Directly on the Seaside Heights Boardwalk in a high‑foot traffic area near Casino Pier & Breakwater Beach.
    • Existing restaurant with 3 years remaining on the lease provides immediate income.
    • Large basement with offices, three walk‑ins, storage, prep kitchen, and direct access loading bay.
    • Located in Resort Recreational Zone, allowing for current use or expansion possibilities.
    • New roof and signage installed in 2025.
    • Building connected with gas, electricity, and water; ANSUL and basement‑level fire suppression system in place.

    Overview

    Located directly on the north end of Seaside Heights Boardwalk, this commercial building benefits from high foot traffic and close proximity to Casino Pier & Breakwater Beach. The property is situated in an area with ample parking. The current restaurant tenant has 3 years remaining on their lease. The building is connected with gas, electricity, and water, and features an ANSUL and basement-level fire suppression system. A new roof and signage are planned for installation in 2025. The property includes a large basement with offices, three walk-ins, storage, a prep kitchen, and a storage area with direct access to a loading bay. Zoned Resort Recreational, the existing structure can be used as is or expanded for optimal use.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $1.32M
    NOI $118,366 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.69M
    NOI $118,366 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.37M
    NOI $118,366 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $167.2k $21.60
    − Vacancy −$9.4k −$1.21
    EGI $157.8k $20.39
    − OpEx −$39.5k −$5.10
    NOI $118.4k $15.29
    7,740 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.69M
    $1.48M – $1.97M (±1% cap)
    NOI $118,366 @ 7.0% cap · market cap 7.89%
    Second Best
    Retail
    $1.58M
    $1.38M – $1.84M (±1% cap)
    NOI $110,475 @ 7.0% cap · market cap 7.36%
    Theoretical Best
    Office A
    $2.02M
    $1.77M – $2.36M (±1% cap)
    NOI $141,475 @ 7.0% cap · market cap 9.43%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Similar Places Nearby

    • Jersey Food Truck — 16 Dupont Ave, Seaside Heights, NJ 08751
    • Catering by William — 14 N St, Seaside Park, NJ 08752

    Location Insight

    • Map
    • Local Demand
    City
    Seaside Heights
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0705119
    Latitude
    39.9439227

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    FAQs

    What type of property is this?
    Restaurant - Commercial building on Seaside Heights Boardwalk with high foot traffic.
    Where is this 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: Directly on the Seaside Heights Boardwalk in a high‑foot traffic area near Casino Pier & Breakwater Beach.; Existing restaurant with 3 years remaining on the lease provides immediate income.; Large basement with offices, three walk‑ins, storage, prep kitchen, and direct access loading bay.
    (732) 793-5500
    We can help!
    Listing Contact
    Jeffrey M Childers
    Real Estate License ID: 0895595
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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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