Historic Hotel with Street-Level
5 Abbott Avenue Ocean Grove, NJ 07756
5 Abbott Avenue, Ocean Grove, NJ, 07756
$3,150,000
For Sale
$3,150,000
COMMERCIAL - Ocean Grove, NJ
Property Size9,427 SF
Lot Size0.05 Acres
Price / SF$334.15
Days on Market211
Property Features for 5 Abbott Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Basement
- Finished, Full
- 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
45 Main Ave., Ocean Grove, NJ
Listed by
Alfredo Fresnedo · License #8333376
(732) 361-0770
Added: Dec 19, 2025 Checked: Jul 18 at 7:06 am
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.
Investment Insights
Based on property information with market context.
Historic Ocean Grove hotel featuring 20 renting rooms with 21 full baths and 3 half baths, plus owners quarters. The property also includes three large porches with panoramic ocean views.
A street-level restaurant is part of the building and has a private entrance. Public remarks indicate it is currently used for guests’ breakfast and an ice cream parlor open to the public.
The hotel and restaurant are described as operating seasonally, and the building is situated on a double lot.
A street-level restaurant is part of the building and has a private entrance. Public remarks indicate it is currently used for guests’ breakfast and an ice cream parlor open to the public.
The hotel and restaurant are described as operating seasonally, and the building is situated on a double lot.
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 4.58%
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 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 hotel offering 20 renting rooms and a street-level restaurant with a private entrance.
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.
