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    5 Abbott Ave Ocean Grove, NJ 07756

    For Sale
    $3,795,000

    COMMERCIAL - Ocean Grove, NJ

    Property size:
    9,427 SF
    Lot size:
    0.05 Acres
    Days on Market:
    165
    Last Refresh:
    Dec 6 at 1:06 am

    Property Features for 5 Abbott Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    35-00230-0000-00015
    Parking features
    On Street
    Basement
    Full, Finished
    Size
    9,427 SF
    Lot size
    0.05 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1871
    Floors in Building
    5

    RE/MAX Gateway (732) 361-0770

    Listing agent Alfredo Fresnedo (732) 361-0770

    Listing date Jun 25, 2025

    Copyright © 2025 Monmouth Ocean Regional Realtors and Monmouth Ocean Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Hotel with Ocean Views

    This historic hotel in Ocean Grove, New Jersey, presents a solid investment opportunity with growth potential. Situated on a double lot, the building is located steps from the beach. The property features 20 rentable rooms, 21 full bathrooms, and 3 half bathrooms. It also includes 3 large porches that offer panoramic ocean views, as well as owner's quarters. A 49-seat restaurant with a private entrance is located on the street level. Currently, the restaurant is used for guest breakfasts and an ice cream parlor open to the public, but it could be converted into a full-service restaurant. The property is currently operating seasonally, but has the potential to operate year-round.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lillagaard Bed & Breakfast Bed & Breakfast Waves at the Lillagaard Ice ... Ice Cream Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Grove
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.004822
    Latitude
    40.209744

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    FAQs

    What type of property is this?
    Hotel - Historic Ocean Grove hotel with restaurant and ocean views for sale.
    Where is this hotel located?
    The property is located at 5 Abbott Ave Ocean Grove, NJ.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: - Steps to Ocean Grove's award-winning beach.; - Historic hotel with 20 renting rooms and a 49-seat restaurant.; - Solid investment opportunity with huge growth potential.
    (732) 361-0770
    Request Owner's contact information
    5 Abbott Ave Ocean Grove, NJ 07756
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    Realmo Value Estimation

    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.

    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.

    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
    5 Abbott Ave Ocean Grove, NJ 07756
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