Seaside Heights Boardwalk Restaurant
1003 Ocean Terrace Seaside Heights, NJ 08751
1003 Ocean Terrace, Seaside Heights, NJ, 08751
$1,500,000
Pending
For Sale
$1,500,000
Pending
Prime boardwalk location with existing restaurant and expansion potential.
Property Size7,740 SF
Lot Size0.13 Acres
Days on Market167
Property Features for 1003 Ocean Terrace
General Information
- Standard status
- Pending
- Size
- 7,740 SF
- Lot size
- 0.13 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1940
Listing agency
CHILDERS SOTHEBY'S INTL REALTY
(732) 793-5500
Listed by
JEFFREY M CHILDERS · License #0895595
Source
Corcoran
Added: Feb 6 Updated: Jul 10 at 3:47PM Checked: Jul 22 at 8:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CHILDERS SOTHEBY'S INTL REALTY
Investment Insights
Based on property information with market context.
Located directly on the north end of Seaside Heights Boardwalk, this property benefits from high foot traffic and close proximity to Casino Pier and Breakwater Beach, with ample parking nearby. The existing restaurant has 3 years remaining on its lease. The building, totaling 7,740 square feet, is connected with gas, electricity, and water, and features an ANSUL and basement-level fire suppression system. A new roof and signage are scheduled for installation in 2025. The property includes a large basement with offices, three walk-in units, storage, a prep kitchen, and a loading bay with direct access. Situated in the Resort Recreational Zone, the current structure can be used as is or expanded for optimal use.
Key Highlights
- Directly on the north end of Seaside Heights Boardwalk in a high‑foot traffic area.
- Existing restaurant lease in place for 3 years providing immediate income.
- Large basement with offices, three walk‑ins, prep kitchen, storage, and direct access loading bay.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $167.2k | $21.60 |
| − Vacancy | −$9.4k | −$1.21 |
| EGI | $157.8k | $20.39 |
| − OpEx | −$39.5k | −$5.10 |
| NOI | $118.4k | $15.29 |
7,740 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,366 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,475 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Restaurants
Similar For Sale Nearby
Similar Off Market Nearby
- Jersey Food Truck — 16 Dupont Ave, Seaside Heights, NJ 08751
- Catering by William — 14 N St, Seaside Park, NJ 08752
FAQs
What type of property is this?
Restaurant - Prime boardwalk location with existing restaurant and expansion potential.
Where is this restaurant located?
The property is located at 1003 Ocean Terrace Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Directly on the north end of Seaside Heights Boardwalk in a high‑foot traffic area.; Existing restaurant lease in place for 3 years providing immediate income.; Large basement with offices, three walk‑ins, prep kitchen, storage, and direct access loading bay.
