Historic Hotel with Ocean
For Sale
$3,150,000
5 Abbott Avenue, Ocean Grove, NJ 07756
Historic Ocean Grove hotel with restaurant and ocean views.
Property Size9,427 SF
Price / SF$334.15
Days on Market404
Property Features for 5 Abbott Avenue
General Information
Standard status
Active
Size
9,427 SF
Property subtype
Commercial
Building Details
Year Built
1871
Listing Agency:
RE/MAX Gateway
Listed By:
Alfredo Fresnedo · License #8333376
(732) 361-0770
Source:
Actionplusrealty
Added: Sep 13, 2025
Changed: Oct 21
Last Checked: Oct 21 at 12:12AM
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 RE/MAX Gateway
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Investment Insights
Based on property information with market context.
This historic hotel in Ocean Grove presents an investment opportunity with growth potential. The building is situated on a double lot near the beach. It features 20 rentable rooms, 21 full bathrooms, and 3 half bathrooms. The property also includes 3 porches that offer panoramic ocean views, as well as owner's quarters. A 49-seat restaurant with a private entrance is located on the street level. Currently, the restaurant is used for guest breakfasts and an ice cream parlor that is open to the public, but it could be converted into a full-service restaurant. The property is 9,427 square feet. The business currently operates seasonally.
Key Highlights
- Steps to Ocean Grove's award‑winning beach.
- Historic hotel with 20 renting rooms and a 49‑seat restaurant.
- Solid investment opportunity with huge growth potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,165
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,883,300
$2.9M
Cap Rate 7%
$2,059,500
$2.1M
Cap Rate 9%
$1,601,833
$1.6M
Market Conditions
NOI Build-Up for 9,427 SF
Gross rent
$203.6K $21.60/SF
− Vacancy
−$11.4K −$1.21/SF
EGI
$192.2K $20.39/SF
− OpEx
−$48.1K −$5.10/SF
NOI
$144.2K $15.29/SF
Area
Monmouth 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 Rate 5%
$2,883,300
Cap Rate 7%
$2,059,500
Cap Rate 9%
$1,601,833
Alternative Uses
Best Use
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $144,165 @ 7.0% cap · market cap 4.58%
Second Best
Hotel Hospitality
$1.01M
$881.6K – $1.18M
NOI $70,526 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,310 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,514
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 32%
Home Improvements & Furnishings 7%
Dunkin' Donuts
Dining
6,671 visits/mo
0.5 miles
BP
Shops & Services
3,291 visits/mo
0.5 miles
Ocean Grove Hardware
Home Improvements & Furnishings
764 visits/mo
0.1 miles
U-Haul Neighborhood Dealer
Shops & Services
285 visits/mo
0.5 miles
Demographics for 07756, NJ
3,164
Population
2,831
Households
1.1
Avg Household Size
58
Median Age
64%
College-Educated
92%
High-School Grad
0.4 sq mi
ZIP Area
7,910
Density / Sq Mi
$74,410
Median Household Income
$58,148
Median Earnings
$1,212
Median Rent
$764,200
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Hotel - Historic Ocean Grove hotel with restaurant and ocean views.
Where is this hotel located?
The property is located at 5 Abbott Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Steps to Ocean Grove's award‑winning beach.; Historic hotel with 20 renting rooms and a 49‑seat restaurant.; Solid investment opportunity with huge growth potential.
