Historic Hotel With
For Sale
$3,150,000
5 Abbott Avenue, Ocean Grove, NJ 07756
Twenty guest rooms, extensive porch space, and ocean views support a hospitality use with an on-site dining area.
Property Size9,427 SF
Days on Market229
Property Features for 5 Abbott Avenue
General Information
Standard status
Active
Size
9,427 SF
Property subtype
Commercial
Additional Details
Floor
Ground
Business Included
Yes
Seating Capacity
49
Building Details
Building Size
9,427 SF
Year Built
1871
Buildings
1
Listing Agency:
RE/MAX Gateway
(732) 361-0770
Listed By:
Alfredo Fresnedo · License #8333376
(732) 361-0770
Source:
Sackmanrealty
Added: Dec 19, 2025
Changed: Jul 31
Last Checked: Aug 5 at 5:04AM
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.
Built in 1871, this historic hotel in Ocean Grove includes 20 renting rooms, 21 full baths, and 3 half baths. The property also offers owners quarters and 3 large porches with panoramic ocean views. A street-level restaurant with a private entrance provides a separate commercial component within the building.
The 49-seat restaurant is currently used for guest breakfast and as an ice cream parlor open to the public. The property sits on a double lot at 5 Abbott Avenue, steps from Ocean Grove’s beach. Its existing room count, hospitality layout, restaurant space, and seasonal operating history create a clearly defined hotel and dining configuration.
The 49-seat restaurant is currently used for guest breakfast and as an ice cream parlor open to the public. The property sits on a double lot at 5 Abbott Avenue, steps from Ocean Grove’s beach. Its existing room count, hospitality layout, restaurant space, and seasonal operating history create a clearly defined hotel and dining configuration.
Key Highlights
- 20 renting rooms with 21 full baths and 3 half baths
- 49‑seat street‑level restaurant with private entrance
- 3 large porches with panoramic ocean views
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 4.58%
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.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,742
Businesses Nearby
43k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 41%
Home Improvements & Furnishings 2%
Burger King
Dining
7,250 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,091 visits/mo
0.4 miles
PNC Bank
Shops & Services
6,825 visits/mo
0.4 miles
Dunkin' Donuts
Dining
6,671 visits/mo
0.4 miles
The UPS Store
Shops & Services
3,924 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Twenty guest rooms, extensive porch space, and ocean views support a hospitality use with an on-site dining area.
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: 20 renting rooms with 21 full baths and 3 half baths; 49‑seat street‑level restaurant with private entrance; 3 large porches with panoramic ocean views
