Building Details

Year Built 1920

Listing Agency: EXP Realty, LLC

Listed By: Kritika Chand · License #2334926 Show Phone

Source: Riverfoxrealty

Added: Mar 24 Changed: Oct 13 Last Checked: Oct 5 at 10:01PM

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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 EXP Realty, LLC

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Investment Insights

Based on property information with market context.

This offering pairs an existing bayfront restaurant setup with additional development flexibility. The sale includes the restaurant property, a residential home, and beach access, along with six additional lots located directly across the street.

The site is positioned for Delaware Bay waterfront enjoyment, with open water presence and direct proximity to the bay. The property also benefits from a recent public sewer addition.

Buyers are encouraged to perform their own due diligence regarding development potential and permitted uses before planning next steps.

Key Highlights

• Bayfront restaurant property on the Delaware Bay
• Restaurant is currently set up for dining use
• Includes six additional lots directly across the street

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,043

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,120,860 $1.1M

Cap Rate 7%

$800,614 $800.6K

Cap Rate 9%

$622,700 $622.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$78.0K $19.50/SF

− Vacancy

−$3.3K −$0.82/SF

EGI

$74.7K $18.68/SF

− OpEx

−$18.7K −$4.67/SF

NOI

$56.0K $14.01/SF

Area

Cumberland County, NJ

Vacancy

4.20%

Lease Rate

$19.50 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,120,860

Cap Rate 7%

$800,614

Cap Rate 9%

$622,700

Alternative Uses

Best Use

Specialty Retail

$800.6K

$700.5K – $934.1K (±1% cap)

NOI $56,043 @ 7.0% cap · market cap 6.59%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.01M

$5.26M – $7.01M (±1% cap)

NOI $420,422 @ 7.0% cap · market cap 49.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Waterfront Land

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Explore this area Business Placement

Demographics for 08321, NJ

189

Population

298

Households

0.6

Avg Household Size

57

Median Age

18%

College-Educated

88%

High-School Grad

8.8 sq mi

ZIP Area

21

Density / Sq Mi

$52,500

Median Household Income

$213,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Waterfront Land - Bayfront restaurant property includes six additional lots across the street, plus a residential home and beach access.

Where is this waterfront land located?

The property is located at 102 Delaware Fortescue, NJ.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Bayfront restaurant property on the Delaware Bay; Restaurant is currently set up for dining use; Includes six additional lots directly across the street