Two-Story Restaurant
For Sale
$1,950,000
3119 Revere Blvd, Brigantine, NJ 08203
COMMERCIAL/INDUSTRIAL, Brigantine, NJ
Property Size6,750 SF
Price / SF$288.89
Days on Market95
Property Features for 3119 Revere Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Business District, Corner
Directions
Take Atl-Brig Blvd. to Revere Blvd. Property is on the left side.
Subdivision
Brigantine City
Standard status
Active
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
13730
Listing Agency:
Soleil Sotheby's International Realty-B
(609) 264-5543
Listed By:
RALPH (PAUL) BUSCO · License #0569707
(609) 515-0530
Added: Jun 17
Changed: Sep 3
Last Checked: Sep 19 at 4:06AM
MLS# 608988
Copyright © 2026 South Jersey Shore Regional 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.
Located at 3119 Revere Blvd in Brigantine, New Jersey, this two-story restaurant property contains 6,750 square feet of bar and restaurant space. The building previously operated as Cellar 32 Bar & Restaurant and includes seating for 240 patrons, along with 25 off-street parking spaces.
The property is positioned near Lighthouse Circle, CVS, and year-round retail neighbors. A Plenary Retail Consumption License with Broad Package Privilege is included. The site can support a renewed restaurant and bar operation with liquor-store use, while mixed-use commercial and residential use is permitted in the zone.
The property is positioned near Lighthouse Circle, CVS, and year-round retail neighbors. A Plenary Retail Consumption License with Broad Package Privilege is included. The site can support a renewed restaurant and bar operation with liquor-store use, while mixed-use commercial and residential use is permitted in the zone.
Key Highlights
- 6,750‑square‑foot, two‑story bar and restaurant building
- Seating capacity for 240 patrons
- 25 off‑street parking spaces
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
$104,429
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
5.36%
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%
$2,088,580
$2.1M
Cap Rate 7%
$1,491,843
$1.5M
Cap Rate 9%
$1,160,322
$1.2M
Market Conditions
NOI Build-Up for 6,750 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
$145.8K $21.60/SF
− Vacancy
−$6.6K −$0.97/SF
EGI
$139.2K $20.63/SF
− OpEx
−$34.8K −$5.16/SF
NOI
$104.4K $15.47/SF
Area
Atlantic County, NJ
Vacancy
4.50%
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%
$2,088,580
Cap Rate 7%
$1,491,843
Cap Rate 9%
$1,160,322
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,429 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,956 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 77%
Home Improvements & Furnishings 23%
ACME Markets
Groceries
17,717 visits/mo
0.5 miles
Brigantine Ace Hardware
Home Improvements & Furnishings
5,329 visits/mo
0.1 miles
Demographics for 08203, NJ
7,725
Population
9,340
Households
0.8
Avg Household Size
56
Median Age
46%
College-Educated
93%
High-School Grad
6.6 sq mi
ZIP Area
1,170
Density / Sq Mi
$88,906
Median Household Income
$57,510
Median Earnings
$1,499
Median Rent
$485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a plenary retail consumption liquor license with broad package privilege.
Where is this conventional restaurant located?
The property is located at 3119 Revere Blvd Brigantine, NJ.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 6,750‑square‑foot, two‑story bar and restaurant building; Seating capacity for 240 patrons; 25 off‑street parking spaces
