Mixed-Use Restaurant
For Sale
$1,750,000
117 Boulevard, Seaside Heights, NJ 08751
Commercial Sale, Seaside Heights, NJ
Property Size3,225 SF
Lot Size0.08 Acres
Price / SF$542.64
Days on Market147
Property Features for 117 Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
3
Interior features
Refrigeration
Exterior features
Outdoor Shower
Fencing
Fenced
Fireplace
1
Lot features
Corner Lot
Directions
From GSP: Take Exit 82 to Rt 37 East. Follow signs for Seaside Heights. Located on the corner of Lincoln & Boulevard.
Subdivision
Seaside Heights
Standard status
Active
APN
27-00010-0000-00001
Size
3,225 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11841
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
3
Listing Agency:
Goldstone Realty
Listed By:
Sidney Loundy · License #1541994
(732) 898-3400
Added: Apr 14
Changed: Sep 7
Last Checked: Sep 7 at 11:06AM
MLS# 22610207
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 mixed-use property includes a restaurant business, the building, and equipment as part of the sale. The 3,225-square-foot structure was built in 1940 and features a brick exterior, refrigeration, forced-air heating, central air, and window-unit cooling. A basement, fenced grounds, outdoor shower, fireplace, and public water and sewer further support the property’s existing configuration.
The building occupies a 0.08-acre corner site at 117 Boulevard in Seaside Heights, at the intersection of Lincoln and the Boulevard. Three rentable spaces are positioned above the restaurant, including two apartments that are currently rented. The property also includes a public-water connection and public sewer service.
The building occupies a 0.08-acre corner site at 117 Boulevard in Seaside Heights, at the intersection of Lincoln and the Boulevard. Three rentable spaces are positioned above the restaurant, including two apartments that are currently rented. The property also includes a public-water connection and public sewer service.
Key Highlights
- Mixed‑use property with restaurant business, building, and equipment included
- 3,225‑square‑foot building on a 0.08‑acre corner site
- Three rentable spaces above the restaurant, including two rented apartments
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
$49,594
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
2.83%
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%
$991,880
$991.9K
Cap Rate 7%
$708,486
$708.5K
Cap Rate 9%
$551,044
$551.0K
Market Conditions
NOI Build-Up for 3,225 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
$96.8K $30.00/SF
− Vacancy
−$6.6K −$2.04/SF
EGI
$90.2K $27.96/SF
− OpEx
−$40.6K −$12.58/SF
NOI
$49.6K $15.38/SF
Area
Ocean 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%
$991,880
Cap Rate 7%
$708,486
Cap Rate 9%
$551,044
Alternative Uses
Best Use
Apartment 5plus
$708.5K
$619.9K – $826.6K
NOI $49,594 @ 7.0% cap · market cap 2.83%
Second Best
Specialty Retail
$704.6K
$616.5K – $822.0K
NOI $49,319 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$842.1K
$736.9K – $982.5K
NOI $58,948 @ 7.0% cap · market cap 3.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
7-Eleven
Shops & Services
2,117 visits/mo
0.4 miles
Three Brothers Pizza
Dining
530 visits/mo
0.2 miles
Marathon
Shops & Services
263 visits/mo
0.4 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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines a restaurant operation with three rentable spaces, including two rented apartments.
Where is this mixed-use property located?
The property is located at 117 Boulevard Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Mixed‑use property with restaurant business, building, and equipment included; 3,225‑square‑foot building on a 0.08‑acre corner site; Three rentable spaces above the restaurant, including two rented apartments
