Boardwalk-Adjacent Restaurant
1003 Ocean Terrace Seaside Heights, NJ 08751
For Sale
$1,500,000
Pending
COMMERCIAL - Seaside Heights, NJ
Property Size7,740 SF
Lot Size0.13 Acres
Days on Market171
Property Features for 1003 Ocean Terrace
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
1
Parking features
Off Street, On Street
Interior features
Internal Loading, Refrigeration
Exterior features
Lighting
Basement
Walk-Out Access, Full
Standard status
Pending
APN
27-00060-0000-00009
Size
7,740 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
30580
Utilities
Sewer type
Public Sewer
Water source
Public
Water front features
Beach Front, Ocean Front
Water front
1
Building Details
Year built
1940
Floors in Building
2
Flooring type
Tile, Concrete
Building materials
Block
Roof type
Flat, Asphalt
Listing Agency:
Childers Sotheby's Intl Realty
(732) 793-5500
Listed By:
Jeffrey M Childers · License #0895595
(732) 793-5500
Added: Feb 6
Changed: Jul 10
Last Checked: Jul 27 at 8:06PM
MLS# 22603340
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 restaurant building is located directly on the north end of the Seaside Heights Boardwalk. The property includes a basement-level operations area with offices, three walk-ins, storage, and a prep kitchen, along with additional storage that provides direct access to a loading bay. The building is connected with gas, electricity, and water, and it has an ANSUL and basement-level fire suppression system in place. New roof and signage were installed in 2025.
The current restaurant has approximately three years remaining on its lease. The site is in a high-foot-traffic area with close proximity to Casino Pier and Breakwater Beach, and there is parking around the property.
Zoned for Resort Recreational use, the current structure can be used as is or expanded for additional best-use possibilities.
The current restaurant has approximately three years remaining on its lease. The site is in a high-foot-traffic area with close proximity to Casino Pier and Breakwater Beach, and there is parking around the property.
Zoned for Resort Recreational use, the current structure can be used as is or expanded for additional best-use possibilities.
Key Highlights
- Beachfront location directly on the north end of the Seaside Heights Boardwalk
- Commercial building with internal loading and a basement office area plus three walk‑ins and a prep kitchen
- Utilities connected: gas, electricity, and water; public water and public sewer
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building with extensive basement prep, walk-ins, and a direct-access loading bay, with a current lease in place.
Where is this conventional 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: Beachfront location directly on the north end of the Seaside Heights Boardwalk; Commercial building with internal loading and a basement office area plus three walk‑ins and a prep kitchen; Utilities connected: gas, electricity, and water; public water and public sewer
