Oceanfront Tap
For Sale
$2,499,900
919 Ocean Terrace, Seaside Heights, NJ 08751
Recently renovated corner tap house on the boardwalk with indoor and outdoor seating and an included liquor license.
Property Size6,000 SF
Price / SF$416.65
Days on Market1345
Property Features for 919 Ocean Terrace
General Information
Standard status
Active
Size
6,000 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$26,728
Amenities
Central Air
3
Concrete, Other
Flat
Parking. Corner Lot.
3 Parking Spaces. Off Street, On Site.
40 x 144
Beach. Corner.
Listing Agency:
Seaside Heights Realty Inc.
(732) 793-5200
Listed By:
Michael Loundy · License #8435976
(732) 793-5200
Source:
Xome
Added: Dec 26, 2022
Changed: Aug 12
Last Checked: Aug 31 at 1:04PM
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 Seaside Heights Realty Inc.
Investment Insights
Based on property information with market context.
This recently renovated corner boardwalk and oceanfront tap house is offered as an estate sale. The main level features a great open layout at the boardwalk level with both inside and outside seating. A large basement provides additional space that may be suited for expansion and back-of-house needs, including potential offices, walk-ins, storage, and kitchen support.
The property includes a consumption liquor license and is positioned adjacent to Casino Pier, with rides and amusements at your doorstep.
The overall configuration supports both current restaurant and bar operations and future interior upgrades, including room to add a kitchen at the main level while leveraging the basement for added capacity.
The property includes a consumption liquor license and is positioned adjacent to Casino Pier, with rides and amusements at your doorstep.
The overall configuration supports both current restaurant and bar operations and future interior upgrades, including room to add a kitchen at the main level while leveraging the basement for added capacity.
Key Highlights
- Recently renovated corner boardwalk and oceanfront tap house with open layout at the boardwalk level
- Indoor and outdoor seating, plus parking with 3 on‑site off‑street spaces
- Includes a consumption liquor license
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
$91,757
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
3.67%
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%
$1,835,140
$1.8M
Cap Rate 7%
$1,310,814
$1.3M
Cap Rate 9%
$1,019,522
$1.0M
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$7.3K −$1.21/SF
EGI
$122.3K $20.39/SF
− OpEx
−$30.6K −$5.10/SF
NOI
$91.8K $15.29/SF
Area
Ocean County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$1,835,140
Cap Rate 7%
$1,310,814
Cap Rate 9%
$1,019,522
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,757 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,670 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
7-Eleven
Shops & Services
2,117 visits/mo
0.1 miles
Three Brothers Pizza
Dining
530 visits/mo
0.5 miles
Marathon
Shops & Services
263 visits/mo
0.1 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Pier at Seaside — 2 Ocean Terrace, Seaside Heights, NJ 08751
- Sawmill Beach Bar — 1800 boardwalk, seaside park, nj 08752
- Sand Bar Seaside Park — 1807 Boardwalk #5, Seaside Park, NJ 08752
- Barrel Brothers Wine & Spirits — 13 Boulevard, Seaside Heights, NJ 08751
- Bamboo Bar — 201 Boulevard, Seaside Heights, NJ 08751
Frequently Asked Questions
What type of property is this?
Bar & Pub - Recently renovated corner tap house on the boardwalk with indoor and outdoor seating and an included liquor license.
Where is this bar & pub located?
The property is located at 919 Ocean Terrace Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $2,499,900.
What are key features of this property?
This property features: Recently renovated corner boardwalk and oceanfront tap house with open layout at the boardwalk level; Indoor and outdoor seating, plus parking with 3 on‑site off‑street spaces; Includes a consumption liquor license
