Historic Hotel with
For Sale
$3,150,000
5 Abbott Avenue, Ocean Grove, NJ 07756
Commercial Sale, Ocean Grove, NJ
Property Size9,427 SF
Lot Size0.05 Acres
Price / SF$334.15
Days on Market302
Property Features for 5 Abbott Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
On Street
Basement
Finished, Full
Subdivision
Ocean Grove
Directions
East on Main, right on Central, left on Abbott
Standard status
Active
APN
35-00230-0000-00015
Size
9,427 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
34256
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Water front
1
Building Details
Year built
1871
Floors in Building
4
Listing Agency:
RE/MAX Gateway
(732) 361-0770
Listed By:
Alfredo Fresnedo · License #8333376
(732) 763-2961
Added: Dec 19, 2025
Changed: Oct 2
Last Checked: Oct 17 at 8:06AM
MLS# 22537035
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1871, this 9,427-square-foot hotel occupies a 0.05-acre double lot in Ocean Grove. The property includes 20 guest rooms, 21 full baths, 3 half baths, owner quarters, and 3 large porches with ocean views. A 49-seat restaurant occupies the street level with its own entrance and is currently used for guest breakfast and an ice cream parlor open to the public.
The property is located near Ocean Grove beach and includes on-street parking. Public water and public sewer serve the building, while baseboard heating is installed throughout. The combination of lodging, food-service space, private ownership quarters, and outdoor porches creates a distinctive hospitality configuration.
The property is located near Ocean Grove beach and includes on-street parking. Public water and public sewer serve the building, while baseboard heating is installed throughout. The combination of lodging, food-service space, private ownership quarters, and outdoor porches creates a distinctive hospitality configuration.
Key Highlights
- 20 guest rooms with 21 full baths and 3 half baths
- 9,427‑square‑foot hotel on a 0.05‑acre double lot
- 49‑seat street‑level restaurant with private entrance
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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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Hotel - Guest lodging, owner quarters, broad porches, and a street-level restaurant support hospitality and food-service operations.
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 guest rooms with 21 full baths and 3 half baths; 9,427‑square‑foot hotel on a 0.05‑acre double lot; 49‑seat street‑level restaurant with private entrance
