Historic Hotel with Ocean
5 Abbott Avenue Ocean Grove, NJ 07756
5 Abbott Avenue, Ocean Grove, NJ, 07756
$3,395,000
For Sale
$3,395,000
Historic Ocean Grove hotel with restaurant and ocean views.
Property Size9,427 SF
Lot Size0.05 Acres
Price / SF$360.14
Days on Market213
Property Features for 5 Abbott Avenue
General Information
- Standard status
- Active
- Size
- 9,427 SF
- Lot size
- 0.05 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1871
Listing Agency
RE/MAX GATEWAY
(732) 361-0770
Listed by
ALFREDO FRESNEDO · License #8333376
Source
Corcoran
Added: Dec 19, 2025 Updated: Jul 6 at 9:57 am Checked: Jul 20 at 4:04 am
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
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $203.6k | $21.60 |
| − Vacancy | −$11.4k | −$1.21 |
| EGI | $192.2k | $20.39 |
| − OpEx | −$48.1k | −$5.10 |
| NOI | $144.2k | $15.29 |
9,427 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $144,165 @ 7.0% cap · market cap 4.25%
Second Best
Hotel Hospitality
$1.01M
$881.6K – $1.18M
NOI $70,526 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,310 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lillagaard Bed & Breakfast
Bed & Breakfast
Waves at the Lillagaard Ice ...
Grocery & Convenience Store
Similar For Sale Nearby
FAQs
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 $3,395,000.
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.
