Seaside Heights Restaurant and
For Sale
$1,750,000
117 Boulevard, Seaside Heights, NJ 08751
Turnkey restaurant with three rentable apartments in Seaside Heights.
Property Size3,225 SF
Price / SF$542.64
Days on Market146
Property Features for 117 Boulevard
General Information
Standard status
Active
Size
3,225 SF
Building Details
Year Built
1940
Listing Agency:
Goldstone Realty
Listed By:
Sidney Loundy · License #1541994
(732) 898-3400
Source:
Obrienrealtyllc
Added: Apr 14
Changed: Sep 4
Last Checked: Sep 5 at 11:38AM
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 Goldstone Realty
Investment Insights
Based on property information with market context.
This property features a turnkey restaurant business with a history of operation in Seaside Heights. The sale includes the business, building, and equipment. The building has a brick facade and is located on the corner of Lincoln and the Boulevard. Above the deli are three rentable spaces, including two rented apartments. The property size is 3225 square feet.
Key Highlights
- Turnkey restaurant business, building, and equipment included in sale.
- Established, year‑round successful business in a seasonal location.
- Prime corner location at Lincoln and 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
$49,319
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
2.82%
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%
$986,380
$986.4K
Cap Rate 7%
$704,557
$704.6K
Cap Rate 9%
$547,989
$548.0K
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
$69.7K $21.60/SF
− Vacancy
−$3.9K −$1.21/SF
EGI
$65.8K $20.39/SF
− OpEx
−$16.4K −$5.10/SF
NOI
$49.3K $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%
$986,380
Cap Rate 7%
$704,557
Cap Rate 9%
$547,989
Alternative Uses
Best Use
Specialty Retail
$704.6K
$616.5K – $822.0K
NOI $49,319 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 81%
Shops & Services 19%
ACME Markets
Groceries
15,228 visits/mo
0.2 miles
Spirits Unlimited
Groceries
7,882 visits/mo
0.2 miles
TD Bank
Shops & Services
2,963 visits/mo
0.1 miles
7-Eleven
Shops & Services
2,117 visits/mo
0.4 miles
Marathon
Shops & Services
263 visits/mo
0.5 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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant with three rentable apartments in Seaside Heights.
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 a seasonal location.; Prime corner location at Lincoln and the Boulevard with significant curb appeal.
