Renovated 18-Room
For Sale
$2,300,000
61 Sumner Avenue, Seaside Heights, NJ 08751
Commercial Sale, Seaside Heights, NJ
Property Size9,830 SF
Lot Size0.16 Acres
Price / SF$233.98
Days on Market126
Property Features for 61 Sumner Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Route 37 - over the bridge to Sumner Ave
Subdivision
Seaside Heights
Standard status
Active
APN
27-00006-01-00059
Size
9,830 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
24114
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
on-site laundry facilities
lobby/office area
Building Details
Floors in Building
3
Listing Agency:
Keller Williams Realty Freehold
(732) 536-9010
Listed By:
Iftikhar Haq · License #0789304
(732) 769-1110
Added: May 7
Changed: Sep 7
Last Checked: Sep 9 at 1:06AM
MLS# 22613392
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 fully renovated motel comprises two buildings with 18 modern guest rooms arranged in double-queen, double-king, and single-queen configurations. The property also includes two large suites accommodating up to 10 guests each, a two-bedroom Grande Suite with a full kitchen, living and dining areas, and a studio apartment with its own kitchen. Additional improvements include a lobby and office with guest seating, on-site laundry facilities, and off-street parking.
Located at 61 Sumner Avenue in Seaside Heights, the motel is within walking distance of the beach, boardwalk, dining, amusements, and water park. The property is near the town entrance and an active redevelopment area. Public water and public sewer serve the site. The property contains 9,830 square feet on 0.16 acres.
Located at 61 Sumner Avenue in Seaside Heights, the motel is within walking distance of the beach, boardwalk, dining, amusements, and water park. The property is near the town entrance and an active redevelopment area. Public water and public sewer serve the site. The property contains 9,830 square feet on 0.16 acres.
Key Highlights
- 18 guest rooms across two buildings
- 9,830 square feet on 0.16 acres
- Two suites accommodating up to 10 guests each
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
$71,440
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
3.11%
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%
$1,428,800
$1.4M
Cap Rate 7%
$1,020,571
$1.0M
Cap Rate 9%
$793,778
$793.8K
Market Conditions
NOI Build-Up for 9,830 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
$176.9K $18.00/SF
− Vacancy
−$26.5K −$2.70/SF
EGI
$150.4K $15.30/SF
− OpEx
−$79.0K −$8.03/SF
NOI
$71.4K $7.27/SF
Area
Ocean County, NJ
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,428,800
Cap Rate 7%
$1,020,571
Cap Rate 9%
$793,778
Alternative Uses
Best Use
Hotel Hospitality
$1.02M
$893.0K – $1.19M
NOI $71,440 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $2.99M
NOI $179,677 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Motel - Two-building lodging property with suites, kitchens, lobby space, laundry, and off-street guest parking.
Where is this motel located?
The property is located at 61 Sumner Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 18 guest rooms across two buildings; 9,830 square feet on 0.16 acres; Two suites accommodating up to 10 guests each
