Turnkey Corner Restaurant and
For Sale
$1,750,000
117 Boulevard, Seaside Heights, NJ 08751
COMMERCIAL - Seaside Heights, NJ
Property Size3,225 SF
Lot Size0.08 Acres
Price / SF$542.64
Days on Market131
Property Features for 117 Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
3
Interior features
Refrigeration
Exterior features
Outdoor Shower
Fencing
Fenced
Fireplace
1
Lot features
Corner Lot
Directions
From GSP: Take Exit 82 to Rt 37 East. Follow signs for Seaside Heights. Located on the corner of Lincoln & Boulevard.
Subdivision
Seaside Heights
Standard status
Active
APN
27-00010-0000-00001
Size
3,225 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11841
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1940
Floors in Building
3
Listing Agency:
Goldstone Realty
(732) 898-3400
Listed By:
Sidney Loundy · License #1541994
(732) 898-3400
Added: Apr 14
Changed: Aug 4
Last Checked: Aug 22 at 8:06AM
MLS# 22610207
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.
Turnkey corner restaurant with a charming brick facade, operated as a year-round Seaside Heights staple. The sale includes the business, the building, and the equipment. Above the deli are three rentable spaces, including two rented apartments.
The property sits on the corner of Lincoln and the Boulevard in Seaside Heights, NJ.
With restaurant operations on the ground level and multiple rentable units above, the building offers an income-generating configuration in a single ownership.
The property sits on the corner of Lincoln and the Boulevard in Seaside Heights, NJ.
With restaurant operations on the ground level and multiple rentable units above, the building offers an income-generating configuration in a single ownership.
Key Highlights
- Turnkey restaurant business, building, and equipment included in sale.
- Established, year‑round successful business in seasonal Seaside Heights.
- Prime corner location at Lincoln & the Boulevard with significant curb appeal.
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
$53,974
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
3.08%
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%
$1,079,480
$1.1M
Cap Rate 7%
$771,057
$771.1K
Cap Rate 9%
$599,711
$599.7K
Market Conditions
NOI Build-Up for 3,225 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
$82.4K $25.56/SF
− Vacancy
−$5.3K −$1.65/SF
EGI
$77.1K $23.91/SF
− OpEx
−$23.1K −$7.17/SF
NOI
$54.0K $16.74/SF
Area
Ocean County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$1,079,480
Cap Rate 7%
$771,057
Cap Rate 9%
$599,711
Alternative Uses
Best Use
Multifamily LT 5
$771.1K
$674.7K – $899.6K
NOI $53,974 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$708.5K
$619.9K – $826.6K
NOI $49,594 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$842.1K
$736.9K – $982.5K
NOI $58,948 @ 7.0% cap · market cap 3.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Under-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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant on a corner with three rentable spaces above, including two rented apartments.
Where is this conventional restaurant located?
The property is located at 117 Boulevard Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Turnkey restaurant business, building, and equipment included in sale.; Established, year‑round successful business in seasonal Seaside Heights.; Prime corner location at Lincoln & the Boulevard with significant curb appeal.
