Bayfront Restaurant and Development
For Sale
$850,000
102 Delaware, Fortescue, NJ 08321
Bayfront restaurant property includes six additional lots across the street, plus a residential home and beach access.
Property Size4,000 SF
Price / SF$212.50
Days on Market171
Property Features for 102 Delaware
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
1920
Listing Agency:
EXP Realty, LLC
Listed By:
Kritika Chand · License #2334926
(646) 748-6040
Source:
Riverfoxrealty
Added: Mar 24
Changed: Sep 8
Last Checked: Sep 9 at 11:27PM
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
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.
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 = 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
$56,043
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
6.59%
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%
$1,120,860
$1.1M
Cap Rate 7%
$800,614
$800.6K
Cap Rate 9%
$622,700
$622.7K
Market Conditions
NOI Build-Up for 4,000 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
$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 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%
$1,120,860
Cap Rate 7%
$800,614
Cap Rate 9%
$622,700
Alternative Uses
Best Use
Specialty Retail
$800.6K
$700.5K – $934.1K
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
NOI $420,422 @ 7.0% cap · market cap 49.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
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Market
Vacancy Rate% for Retail in Northeast region
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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
