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    314 42nd Sea Isle City, NJ 08243

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    Claim this Listing
    For Sale
    $6,999,999

    Restaurant - Sea Isle City, NJ

    Added:
    Oct 30, 2025
    Days on Market:
    168
    Last Refresh:
    Apr 15 at 9:06 pm

    Property Features for 314 42nd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Off Street, Paved or Surfaced
    Security features
    Fire Alarm
    Interior features
    Handicap Features, Restroom, Smoke/Fire Alarm, Storage
    Exterior features
    Dock/Pier/Slip, Restrooms, Storage Building, Sign
    Dock
    1
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    15569

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Flooring type
    Hardwood, Linoleum, Vinyl
    Building materials
    Frame
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Keith Reidy

    Listing agent Keith Reidy License #0017328

    Listing office SEA ISLE REALTY 6300 Landis Avenue, NJ

    Listing date Oct 30, 2025

    MLS# 253201 Listing URL

    Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Iconic Restaurant and Entertainment Destination

    The Oar House Pub, a dining and entertainment destination in Sea Isle City since 1970, is available for sale. Situated on the bay on 42nd Street, this establishment offers food, beverages, and live entertainment with waterfront views. The main floor includes three bars and two dining areas accommodating 200 guests, along with a stage for bands and musicians. The front bar seats 25 patrons with additional table seating. The second-floor bar can host 100 guests and is suitable for private parties and banquets. The outside "Alley Bar" provides live entertainment and can serve 40 guests. Boat slips are available. Included in the sale is on-site kitchen equipment, warehouse-stored equipment, tables, booths, dinnerware, flatware, linens, and bar equipment. The sale price includes the business, building, specified contents, and liquor license. Purchase options include continuing the tradition of providing food, beverages, and entertainment. The property is zoned commercial and residential, allowing for the development of residential units with commercial space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Law Firm Spa & Massage Center Dental Office Hair Salon Real Estate Agency Restaurant Nail Salon Building Supply Skin Care Clinic Gym & Fitness Center

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

    Similar Places Nearby

    • LaCosta Lounge & Deck Bar — 4000 Landis Ave, Sea Isle City, NJ 08243
    • Oar House Pub — 318 42nd Pl, Sea Isle City, NJ 08243
    • Ludlam Bar & Grill — 4004 Landis Ave, Sea Isle City, NJ 08243
    • Alley Bar — 314 42nd Pl, Sea Isle City, NJ 08243
    • Sandbar & Grill — 27 40th St, Sea Isle City, NJ 08243

    Location Insight

    • Map
    • Local Demand
    City
    Sea Isle City
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.6952317
    Latitude
    39.1562041

    Nearby Similar for Sale

    • $199,000

      Commercial Unit in Sea Isle

      Two-story commercial unit suitable for retail and office use.
      8305 Landis, Sea Isle City, NJ 08243
      View Details
    • $1,400,000
      3,500 SF

      Mixed-Use Property Near Beach

      Residential and commercial mix-used property a block from the beach.
      4911 LANDIS Avenue, SEA ISLE CITY, NJ 08243
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Bayfront restaurant and bar with live entertainment and development potential.
    Where is this bar & pub located?
    The property is located at 314 42nd Sea Isle City, NJ.
    What is the asking price?
    The asking price for this property is $6,999,999.
    What are key features of this property?
    This property features: Waterfront location on the bay with dock/pier/slip access.; Includes business, building, specified contents, and liquor license.; Established business with a 50+ year history and reputation.
    (973) 723-7398
    We can help!
    Listing Contact
    Keith Reidy
    Real Estate License ID: 0017328
    Learn More
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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.

    More about this property
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