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    Historic Hotel with Ocean Views Title is generated by Realmo AI

    5 Abbott Avenue, Ocean Grove, NJ 07756

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    Claim this Listing
    For Sale
    $3,395,000

    COMMERCIAL - Ocean Grove, NJ

    Property size:
    9,427 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $360/SF
    Added:
    Dec 19, 2025
    Days on Market:
    149
    Last Refresh:
    May 17 at 12:06 am

    Property Features for 5 Abbott Avenue

    General Information

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

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    34256

    Utilities

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

    Building Details

    Year built
    1871
    Floors in Building
    4

    We can help!

    Listing Contact
    Alfredo Fresnedo
    Alfredo Fresnedo

    Listing agent Alfredo Fresnedo License #8333376

    Listing office RE/MAX Gateway 45 Main Ave., Ocean Grove, NJ

    Listing date Dec 19, 2025

    MLS# 22537035

    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

    • 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.
    • Three huge porches with panoramic ocean views.
    • Located on a double lot.
    • Includes owner's quarters.

    Overview

    This historic hotel in Ocean Grove, New Jersey, presents a solid investment opportunity with significant growth potential. Situated on a double lot, the property is located steps from the award-winning beach. The building 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 9,427 square feet in size and sits on a 0.05-acre lot. The business currently operates seasonally, but offers the possibility of year-round operation as a hotel and restaurant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lillagaard Bed & Breakfast Bed & Breakfast Waves at the Lillagaard Ice ... Grocery & Convenience Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Skin Care Clinic Grocery & Convenience Store

    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
    -74.004875
    Latitude
    40.209903

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      Historic Hotel with Ocean Views

      Historic Ocean Grove hotel with restaurant and ocean views.
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      View Details

    FAQs

    What type of property is this?
    Hotel - Ocean Grove hotel with restaurant and ocean views for sale.
    Where is this hotel located?
    The property is located at 5 Abbott Avenue Ocean Grove, NJ.
    What is the asking price?
    The asking price for this property is $3,395,000.
    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
    We can help!
    Listing Contact
    Alfredo Fresnedo
    Alfredo Fresnedo
    Real Estate License ID: 8333376
    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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